Blackstone buys Safe Harbor in multi-billion deal
USA: Blackstone Infrastructure, an active investor in the energy, transportation, digital infrastructure and water and waste infrastructure sectors, has bought Safe Harbor Marinas from Sun Communities, Inc., for $5.65 billion.
Safe Harbor owns and operates 138 marinas across the USA and Puerto Rico and is an industry leader in the boat storage and servicing industry.
Heidi Boyd, senior managing director for Blackstone Infrastructure, commented: “Marinas benefit from long-term thematic tailwinds including the growth of travel and leisure as well as population inflows into coastal cities. 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.”
The transaction builds on Blackstone’s diverse portfolio, which now holds $55 billion of assets.