Feb 25, 2025 - Business

Blackstone paying $5.6 billion to buy Safe Harbor Marinas

Dan Primack

Illustration of a dollar sign made out of a wooden post on a boat dock. — Illustration: Allie Carl/Axios

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.

By the numbers: SHM operates 138 marinas, compared to the 101 it operated in 2020 when acquired by Sun Communities for $1.1 billion.

Look ahead: Expect that Blackstone will try to consolidate more of the fragmented marina industry.

Go deeper, via Bloomberg: "While boat sales tend to ebb and flow with consumer sentiment, storage slips tend to be in short supply in all economies, creating opportunities for marina owners to modernize properties and drive higher rents."

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Blackstone paying $5.6 billion to buy Safe Harbor Marinas

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