Blackstone Infrastructure, a division of Blackstone Inc., has agreed to acquire Safe Harbor Marinas, the largest marina and superyacht servicing business in the United States, from Sun Communities for $5.65bn in an all-cash transaction.

The purchase price represents an approximate 21-times multiple on Safe Harbor’s estimated 2024 funds from operations and is subject to post-closing adjustments, according to a statement issued on Monday (24 February 2025).

Safe Harbor owns and operates 138 marinas across the US and Puerto Rico and is a leading operator in boat storage and servicing.