Company Announcements

NEW YORK--(BUSINESS WIRE)--Apr. 30, 2025-- Blackstone (NYSE: BX) announced today that funds managed by Blackstone Infrastructure (“Blackstone”) have completed their acquisition of Safe Harbor Marinas (“Safe Harbor”), the largest marina and superyacht servicing business in the United States, from Sun Communities, Inc. (NYSE: SUI) for $5.65 billion.

Heidi Boyd, a Senior Managing Director in Blackstone’s infrastructure business, said, “We’re pleased to close this transaction and look forward to working with Safe Harbor’s terrific team to further develop their existing marinas and strategically scale their platform.”

“Blackstone offers a world of opportunity to Safe Harbor, and we couldn’t be more excited for the journey ahead,” said Baxter Underwood, CEO of Safe Harbor. “We are eager to pursue growth opportunities while maintaining our people-first culture and strong relationships with the local communities in which we operate, and we thank Sun Communities for its partnership over the past five years.”

The transaction was previously announced on February 24, 2025.

Wells Fargo, J.P. Morgan Securities LLC, and Goldman Sachs & Co. LLC served as financial advisors to Blackstone Infrastructure, while Gibson, Dunn & Crutcher LLP and Simpson Thacher & Bartlett LLP served as legal advisors.

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.

About Safe Harbor Marinas:

Safe Harbor is the largest owner and operator of marinas in the world. The company provides exceptional service and memorable experiences for the global boating community.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250430056790/en/

Paula Chirhart
Paula.Chirhart@Blackstone.com
347-463-5453

Safe Harbor
media@shmarinas.com

Source: Blackstone