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 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%.

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.