Blackstone said Feb. 24 that its funds managed by Blackstone Infrastructure agreed to acquire Safe Harbor Marinas, the largest marina and superyacht service business in the U.S., from Sun Communities, Inc., for $5.65 billion. Rockland's Safe Harbor Marina is included in the transaction.

Blackstone Infrastructure is an investor across energy, transportation, digital infrastructure and water and waste infrastructure sectors, according to its company description.

Sun Communities, Inc., is a real estate investment trust that owns and operates or has an interest in manufactured housing and recreational vehicle communities. It agreed to sell 100% of its interests in the Safe Harbor Marinas business.

Sun Communities, Inc., acquired Safe Harbor Marinas, LLC in October 2020 from Yachting Solutions. At that point, Sun Communities acquired 99 marinas owned and operated by Safe Harbor and eight marinas Safe Harbor managed on behalf of third parties.
 
Now, Safe Harbor owns and operates 138 marinas across the U.S. and Puerto Rico.
 
“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 in Blackstone’s infrastructure business. "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 to expand their footprint.”

Blackstone continued: "This transaction builds on Blackstone Infrastructure’s diverse portfolio and speaks to the strong momentum of the business, which has grown approximately 40% year-over-year since inception, now managing $55 billion of assets (figures as of December 31, 2024). Blackstone Infrastructure invests in leading companies in sectors with strong tailwinds, and its portfolio companies include: QTS, the largest data center provider in the US; AirTrunk, the largest data center platform in the Asia-Pacific region; Carrix, the largest marine terminal operator in North America; Invenergy, the largest private renewables developer in the United States, among many others."
 

About Blackstone Infrastructure
Blackstone Infrastructure is an active investor across energy, transportation, digital infrastructure and water and waste infrastructure sectors. We seek to apply a long-term buy-and-hold strategy to large-scale infrastructure assets with a focus on delivering stable, long-term capital appreciation together with a predictable annual cash flow yield. Our approach to infrastructure investing is one that focuses on responsible stewardship and stakeholder engagement to create value for our investors and the communities we serve.