GlobeNewswire·May 21, 2026, 2:33 AM ET

Sun Communities, Inc. Announces Agreement To Sell UK Assets For Approximately $1.03 Billion In An All-Cash Transaction

Sun Communities Inc. (NYSE: SUI) entered a definitive agreement to sell its UK assets, including the Park Holidays business, to funds affiliated with Aermont Capital.
The all-cash transaction has an enterprise value of £768 million, approximately $1.03 billion USD.
Proceeds from the sale will enable Sun Communities to focus on its core North American manufactured housing & RV portfolio while enhancing financial flexibility.
The total cash consideration received at closing is subject to customary locked box adjustments inclusive of Park Holidays' cash profits up to completion.
Post-transaction, North American MH & RV Real Property NOI is expected to generate approximately 95% of Sun's total NOI.
The transaction is subject to regulatory approval from the UK Financial Conduct Authority & is expected to close in the second half of 2026.
Lazard Frères & Co. LLC acts as financial advisor to Sun Communities, with Jones Day & Taft Stettinius & Hollister LLP as legal advisors.
Rothschild & Co acts as financial advisor to Aermont, with Macfarlanes acting as legal advisor.
Sun Communities is a REIT that, as of March 31, 2026, owned or operated a portfolio of 515 developed properties comprising approximately 179,300 developed sites in the US, Canada, & the UK.