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

Sun Communities, Inc.

Sun Communities, Inc.

SUI

0.00

May 20 (Reuters) - 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.


This page is machine-translated. Sahm tries to improve but does not guarantee the accuracy and reliability of the translation, and will not be liable for any loss or damage caused by any inaccuracy or omission of the translation. *Disclaimer: The above content only represents the author's personal position and opinion and does not represent any position of Sahm Capital Financial Company and Sahm cannot confirm the authenticity, accuracy, and originality of the above content. Investors should consider the risks of investment products in light of their circumstances before making any investment decisions. When necessary, please consult a professional investment advisor. Sahm does not provide any investment advice, nor does it make any commitments and guarantees.