Blackstone Infrastructure today announced its acquisition of Safe Harbor Marinas, the largest marina and superyacht servicing business in the United States, from Sun Communities, Inc. for $5.65 billion.
The deal encompasses 138 marinas across the United States and Puerto Rico, including 11 locations in Rhode Island. Notable Newport County properties include Safe Harbor Newport Shipyard in Newport, Safe Harbor Island Park and New England Boatworks in Portsmouth, Safe Harbor Jamestown Boatyard in Jamestown, and Safe Harbor Sakonnet in Portsmouth.
Commenting on the announcement, Heidi Boyd, Senior Managing Director in Blackstone’s infrastructure business said, “Marinas benefit from key 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 acquisition adds to Blackstone Infrastructure’s diverse portfolio, which has grown approximately 40% year-over-year since inception and now manages $55 billion in assets as of December 31, 2024.
Blackstone Infrastructure’s portfolio includes other major infrastructure assets such as QTS, the largest data center provider in the US; AirTrunk, the largest data center platform in the Asia-Pacific region; Carrix, the largest marine terminal operator in North America; and Invenergy, the largest private renewables developer in the United States.
The transaction reflects Blackstone’s continued expansion under the leadership of Chairman, CEO and Co-Founder Stephen A. Schwarzman.
Stephen Schwarzman and his wife Christine own Miramar on Bellevue Avene in Newport. In an August 2024 story in Town & Country, the couple told the magazine that they would turn Miramar into a public museum following their deaths.