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.
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.
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 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
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’ 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,
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 ...
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.
Sun Communities Inc (SUI) Q4 2024 Earnings Call Highlights: Strategic Asset Sales and Strong ...
Sun Communities Inc (SUI) reports a robust quarter with significant asset sales and improved financial metrics, despite ...
GlobeSt.com3d
Blackstone Buys Marina Portfolio in $5.7B Deal
Blackstone Infrastructure has agreed to acquire the Safe Harbor Marinas portfolio from Sun Communities for $5.65 billion in ...