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Sun Communities to Sell Marinas Business to Blackstone

Wall Street Journal · 3h

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.

Hosted on MSN · 6h

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.

Business Insider · 6h

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.

6h

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.

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