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Investors pour capital into marina real estate amid supply constraints
A major consolidation push is under way, including Safe Harbor, which will expand by adding MarineMax's 120 U.S. and Caribbean locations as the deal targets a year-end close.
Institutional investors are accelerating purchases in marina real estate, betting that limited waterfront supply, rising demand from affluent boat owners, and growing rents will keep returns attractive. Bisnow reports that capital markets are increasingly willing to finance marinas, with lenders and insurers more comfortable with the asset class, which is setting the stage for consolidation through 2027.
The trend is reflected in a large deal: Safe Harbor, owned by Blackstone, is moving to acquire boat retailer and marina operator MarineMax for $1.5B. The acquisition is expected to close by the end of the year, and Safe Harbor plans to add MarineMax's 120 locations in the U.S. and Caribbean to its existing 150-marina portfolio.
Bisnow cites evidence of pricing power in specific markets, including Miami, where rents for slips in publicly owned marinas rose 23% from about $42 per foot per month in 2019 to $52 today, according to city pricing documents. The article also notes that more than half of marinas report occupancy above 95%, based on an annual survey by Marina Dock Age.
Despite some softening in boat purchases in 2025 tied to tariff concerns and an uneasy economy, sales have picked back up in 2026. Boats Group data cited by Bisnow shows just under 6,000 vessels changed hands in July, up 18.2% year over year.