Blackstone Infrastructure has officially completed its acquisition of Safe Harbor Marinas. The transaction sees Safe Harbor, which owns and operates 138 marinas across the US and Puerto Rico transferred from Sun Communities for $5.65 billion.

Heidi Boyd, Senior Managing Director at Blackstone Infrastructure, commented on the milestone: "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."

The transaction was previously announced on 24 February 2025 and builds on Blackstone Infrastructure's diverse portfolio. Blackstone Infrastructure invests in leading companies within different sectors including private equity, real estate, credit and insurance and infrastructure. 

Safe Harbor's Chief Executive Officer, Baxter Underwood, welcomed the new ownership, noting the potential for continued growth under Blackstone's guidance. "Blackstone offers a world of opportunity to Safe Harbor, and we couldn't be more excited for the journey ahead."

Financial advisory support for Blackstone was provided by Wells Fargo, J.P. Morgan Securities LLC and Goldman Sachs & Co. LLC. Legal advisors included Gibson, Dunn & Crutcher LLP and Simpson Thacher & Bartlett LLP.

"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," concluded Underwood.

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