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Sun Communities to Sell Marinas Business to Blackstone

Hosted on MSN · 2d

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.

Wall Street Journal · 2d

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.

Axios on MSN · 1d

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.

1don MSN

This Top-Performing Investment's Big Splash Is Paying Off via a $1.3 Billion Windfall Profit

Sun Communities ( SUI 0.61%) made a big splash during the pandemic. The real estate investment trust (REIT) expanded its ...

2d

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.

Blackstone Reaches $5.7B Deal To Buy Superyacht Marina Owner

Sun Communities REIT will sell Safe Harbor Marinas to Blackstone Infrastructure in a $5.7B all-cash transaction.

1d

Safe Harbor Marinas, owner of multiple RI boatyards, sold to Blackstone private equity

Private equity giant Blackstone has acquired Safe Harbor Marinas, which bought up 14 Rhode Island marinas in just three years ...

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