Sun Communities to Sell Marinas Business to Blackstone

Sun Communities to Sell Marinas Business to Blackstone for $5.65 Billion
The all-cash purchase of Safe Harbor Marinas by affiliates of Blackstone Infrastructure is expected to close in the second quarter.
Blackstone to buy Sun Communities' Safe Harbor marinas for $5.65B
Sun Communities (NYSE:SUI) stock climbed 5.4% in early Monday trading after the REIT agreed to sell its Safe Harbor marinas business to private equity giant Blackstone (NYSE:BX) for $5.65B in an all-cash transaction.
Blackstone paying $5.6 billion to buy Safe Harbor Marinas
Private equity giant Blackstone has agreed to acquire Safe Harbor Marinas, a Dallas-based marina and superyacht servicing company, for $5.65 billion from Sun Communities. Why it matters: This is a reminder that the pandemic-era boating boom didn't sink.
SUN COMMUNITIES, INC. ANNOUNCES SALE OF SAFE HARBOR MARINAS TO BLACKSTONE INFRASTRUCTURE IN AN ALL-CASH TRANSACTION FOR $5.65 BILLION
Re-focuses Business Strategy. Post-transaction, Sun’s North America MH and RV portfolio is expected to account for approximately 90% of the Company’s Net Operating Income (“NOI”), streamlining its strategic focus as a pure-play MH and RV owner and operator.
Sun Communities sells Safe Harbor Marinas to Blackstone for $5.6bn
Blackstone’s infrastructure arm is acquiring the largest marina and superyacht servicing business in the US from Sun Communities for $5.65bn (€5.4bn). The investment firm’s infrastructure funds have agreed to acquire Safe Harbor Marinas which owns and operates 138 marinas across the US and Puerto Rico.
REIT Sun Communities to sell superyacht unit to Blackstone for $5.65 billion
Sun Communities will sell its superyacht servicing business for $5.65 billion in cash, as the real estate investment trust aims to focus on its core segments and reduce debt, sending its shares up more than 5%.
Sun Communities to sell Safe Harbor Marinas business for $5.65B
Sun Communities (SUI) has entered into a definitive agreement to sell 100% of its interests in the Safe Harbor Marinas business to affiliates
Sun Communities’ Stock Surges After Blackstone Agrees To Acquire Its Safe Harbor Marinas Business: Retail’s Unconvinced Yet
Shares of real estate investment trust Sun Communities Inc. (SUI) soared approximately 7% on Monday after Blackstone Inc. (BX) announced that funds managed by Blackstone Infrastructure will acquire Safe Harbor Marinas,
Blackstone Buys Superyacht and Marina Servicer for $5.65 Billion
A unit of Blackstone Inc. agreed to acquire a marina and yacht servicing business for $5.65 billion in a bet on US boaters.
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