Home Economy Economic Activity Safe Harbor Marinas sells for $5.65B

Safe Harbor Marinas sells for $5.65B

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PBN Staff

-

02/25/2025

Safe Harbor Marinas — SAFE HARBOR MARINAS, with 11 locations in Rhode Island, has been sold to Blackstone Infrastructure for $5.65 billion.

PROVIDENCE – Safe Harbor Marinas, which owns and operates 138 marinas across the U.S. and Puerto Rico, including 11 locations in Rhode Island, has been sold to Blackstone Infrastructure for $5.65 billion, parent company Sun Communities Inc. announced. Blackstone Infrastructure is an active investor across energy, transportation, digital infrastructure, and water and waste infrastructure sectors.

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PROVIDENCE – Safe Harbor Marinas, which owns and operates 138 marinas across the U.S. and Puerto Rico, including 11 locations in Rhode Island, has been sold to Blackstone Infrastructure for $5.65 billion, parent company Sun Communities Inc. announced. Blackstone Infrastructure is an active investor across energy, transportation, digital infrastructure, and water and waste infrastructure sectors. The company said the transaction, which was completed on Monday, builds on its diverse portfolio and speaks to the strong momentum of the business, which has grown by approximately 40% year over year since its inception, now managing $55 billion of assets as of Dec. 31, 2024, according to a news release. Blackstone's portfolio includes: QTS, the largest data center provider in the U.S.; 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, according to the release. “Marinas benefit from key long-term thematic tailwinds including the growth of travel and leisure as well as population inflows into coastal cities,” Heidi Boyd, senior managing director of Blackstone’s infrastructure business, said in a statement. “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.” Safe Harbor owns and operates 138 marinas across the U.S. and Puerto Rico. Its Rhode Island locations include: Safe Harbor Cove Haven in Barrington; Safe Harbor Jamestown Boatyard in Jamestown; Safe Harbor Newport Shipyard in Newport; Safe Harbor Silver Spring in South Kingstown; Safe Harbor Allen Harbor and Safe Harbor Wickford Cove, both in North Kingstown; Safe Harbor Cowesett and Safe Harbor Greenwich Bay, both in Warwick; and Safe Harbor Island Park, Safe Harbor New England Boatworks and Safe Harbor Sakonnet, all in Portsmouth. Wells Fargo served as lead financial adviser to Blackstone Infrastructure and committed financing for the transaction. Gibson, Dunn & Crutcher LLP and Simpson Thacher & Bartlett LLP served as legal advisers.