In a significant move within the marina industry, Blackstone Infrastructure has agreed to acquire Safe Harbor Marinas—the largest marina and superyacht servicing business in the United States—from Sun Communities, Inc. for $5.65 billion. This all-cash transaction is expected to close in the second half of 2025, pending customary closing conditions.

Safe Harbor Marinas operates 138 marinas across the U.S. and Puerto Rico, offering extensive boat storage and servicing facilities. The company has experienced substantial growth, expanding from 101 marinas in 2020 to its current portfolio.

Sun Communities, a real estate investment trust (REIT) specializing in manufactured housing and recreational vehicle communities, acquired Safe Harbor in October 2020 for approximately $2.1 billion. The sale to Blackstone represents a significant return on investment for Sun Communities. Gary Shiffman, Chairman and CEO of Sun, stated, "We are very pleased with this transaction which further accelerates Sun’s strategy to improve the Company’s leverage profile and refocus on our core segments."

For Blackstone Infrastructure, the acquisition aligns with its strategy to invest in sectors with strong growth potential. Heidi Boyd, Senior Managing Director in Blackstone’s infrastructure business, commented, "Marinas benefit from key long-term thematic tailwinds including the growth of travel and leisure as well as population inflows into coastal cities."

The marina industry has seen increased demand, partly due to a pandemic-era boating boom. This trend has led to higher demand for marina storage slips, presenting opportunities for owners to modernize facilities and adjust rents.

This acquisition underscores the dynamic nature of the marina industry and highlights strategic shifts by major investment firms and REITs in response to evolving market conditions.