Blackstone Completes Acquisition of Safe Harbor Marinas for $5.65 Billion
Deal News | Apr 30, 2025 | Blackstone
Blackstone, a leading private equity firm, announced the completion of its acquisition of Safe Harbor Marinas from Sun Communities, Inc. for $5.65 billion. Safe Harbor, the largest owner and operator of marinas globally, will now have the backing of Blackstone Infrastructure's extensive resources and expertise to enhance its operations and pursue new growth opportunities. The transaction, originally announced in February 2025, marks a significant expansion of Blackstone’s infrastructure portfolio and its commitment to long-term investments in large-scale assets. Financial advisement for Blackstone was provided by notable firms such as Wells Fargo and J.P. Morgan Securities, while legal advisement was facilitated by Gibson, Dunn & Crutcher LLP and Simpson Thacher & Bartlett LLP.
Sectors
- Private Equity
- Infrastructure
- Maritime
Geography
- United States – The geographic focus of the transaction as both Blackstone and Safe Harbor are major U.S.-based entities, operating within the U.S. market.
Industry
- Private Equity – Relevant because Blackstone is a major player in the private equity sector, and this acquisition is a significant addition to its portfolio.
- Infrastructure – Pertains to the nature of Blackstone Infrastructure’s investments and its focus on long-term ownership of large-scale infrastructure assets.
- Maritime – Given Safe Harbor’s role as the largest operator of marinas, this industry classification is pertinent.
Financials
- $5.65 billion – The acquisition price paid by Blackstone Infrastructure for Safe Harbor Marinas.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Blackstone Infrastructure | Buyer | Company | A division of Blackstone focused on infrastructure investments including energy, transportation, and other sectors. |
| Safe Harbor Marinas | Target Company | Company | The largest owner and operator of marinas in the world, providing services to the global boating community. |
| Sun Communities, Inc. | Vendor | Company | Previous owner of Safe Harbor, a public real estate investment trust. |
| Wells Fargo, J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC | Financial Advisor | Company | Provided financial advisory services to Blackstone Infrastructure during the acquisition. |
| Gibson, Dunn & Crutcher LLP, Simpson Thacher & Bartlett LLP | Legal Advisor | Company | Served as legal advisors for Blackstone Infrastructure throughout the acquisition process. |
| Heidi Boyd | Senior Managing Director | Person | Senior Managing Director in Blackstone's infrastructure business. |
| Baxter Underwood | CEO | Person | CEO of Safe Harbor Marinas. |