REIT Sun Communities to sell UK assets to Aermont Capital for $1.03 billion

صن كوميونيتيز

Sun Communities, Inc.

SUI

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- U.S. real estate investment trust Sun Communities SUI.N said on Thursday that it has entered into a deal to sell its UK assets, including its Park Holidays business to London-based asset management group Aermont Capital for £768 million ($1.03 billion).

Here are some details:

  • Under the deal, Aermont will acquire Park Holidays in an all-cash transaction, the Southfield, Michigan-based REIT said.

  • Sun Communities operates and develops manufactured housing and outdoor vacation properties, according to its website.

  • The deal with Aermont Capital would let Sun focus on its core manufactured housing and recreational vehicle portfolio, it said.

  • Aermont is a European asset management group focused on real estate and related investment activities.