Southern Marinas (15 Locations)

Second-largest marina platform deal ever, behind only Blackstone's $5.65B Safe Harbor acquisition. KSL seeded the platform in May 2021 with principals who had 20+ years and 50+ marina deals on their resume. In under five years, they assembled 15 marinas across 10 states and flipped the portfolio to Stonepeak for $700-800M.

Named properties include Sequoyah Marina (Norris Lake, TN), Ocean Isle (NC Intracoastal), Cedar Creek (Old Hickory Lake, TN), and Millstone (Lake of the Ozarks, MO). Stonepeak plans to use Southern Marinas as a platform for further rollup. Deal closed February 2026.