In a bold move to dominate the U.S. boating and marina industry, Blackstone has announced plans to acquire Safe Harbor Marinas, the country’s largest marina and superyacht servicing company, from Sun Communities Inc. for a staggering $5.65 billion. The deal, disclosed Monday, underscores Blackstone’s aggressive investment strategy in infrastructure and leisure sectors, positioning it as a key player in the high-end maritime market.
The Largest Marina Network in the U.S.
Safe Harbor, headquartered in Dallas, operates a vast network of 138 marinas across the U.S. and Puerto Rico, catering to boat owners, yachting enthusiasts, and marine service providers. The acquisition aligns with Blackstone Infrastructure’s broader vision of tapping into lucrative, long-term growth trends in travel, leisure, and coastal real estate.
“Marinas benefit from key long-term thematic tailwinds, including the growth of travel and leisure as well as population inflows into coastal cities,” said Heidi Boyd, senior managing director at Blackstone’s infrastructure division. “We believe Safe Harbor is the best-positioned company in this sector, and we look forward to working with their terrific team to invest behind their existing marinas and expand their footprint.”
Sun Communities Shifts Strategic Focus
Southfield, Michigan-based Sun Communities Inc. is divesting Safe Harbor as part of a strategic refocus on its core manufactured housing and recreational vehicle communities business. The company had originally acquired Safe Harbor in October 2020 for approximately $2 billion. Now, with the sale expected to close in the second quarter of this year, Sun Communities projects pre-tax proceeds of roughly $5.5 billion after transaction costs.
