Sun Communities, Inc. Announces Agreement to Sell UK Assets

Sun Communities, Inc. has entered into a definitive agreement to sell its UK assets, including the Park Holidays business, to funds affiliated with Aermont Capital for approximately $1.03 billion in an all-cash transaction. This strategic move will allow Sun Communities to concentrate on its core North American manufactured housing (MH) and recreational vehicle (RV) portfolio. The transaction is expected to close in the second half of 2026, subject to regulatory approval from the UK Financial Conduct Authority. The sale is anticipated to result in non-cash charges of approximately $1.0 to $1.1 billion due to the sale price being less than the estimated net asset value of the Park Holidays business. The proceeds from the sale will be used to support investment in existing communities, pursue growth opportunities, and return capital to shareholders. The company has also updated its risk factors to include potential adverse effects of the sale, such as delays, disruptions, and the inability to realize anticipated benefits.