Form 8-K · Current Report · Filed 2025-05-06
Sun Communities Completes Sale of Safe Harbor Marinas, Announces Redemption and Stock Repurchase
On April 30, 2025, Sun Communities, Inc. completed the initial closing of its sale of Safe Harbor Marinas, LLC to an affiliate of Blackstone Inc. for approximately $5.25 billion in cash. The Company also announced the redemption of its $500 million 5.500% Senior Notes due 2029 and $400 million 5.700% Senior Notes due 2033 on May 10, 2025. Additionally, the Company's Board authorized a special one-time cash distribution of $4.00 per share payable on May 22, 2025, and a stock repurchase program of up to $1 billion of its common stock.
- Filer
- Sun Communities Inc. SUI · NYSE
- Filed
- Accession
- 0000912593-25-000164
- CIK
- 0000912593
- Signal
- High impactReal Estate
- Source
- Official filing on sec.gov ↗
Items reported
Completion of Acquisition or Disposition of Assets
Regulation FD Disclosure
Other Events
Financial Statements and Exhibits
Market reaction
Close before filing
$130.40
Next session
-4.4%
Since filing
-6.2%
Latest close
$122.29
What happened, not what will happen — closing prices around the filing date.
Precedent
Previous filings from SUI reporting the same item, with the next session's move:
Exhibits (3)
About Sun Communities Inc.
Sun Communities Inc. is a real estate investment trust (REIT) specializing in the ownership and operation of manufactured home and recreational vehicle (RV) communities. Its primary function is to provide affordable housing options and vacation experiences across North America. Sun Communities is predominantly focused on the residential real estate sector, with a diversified portfolio that includes a mix of properties catering to different demographics and preferences. The company manages and develops a variety of properties that offer economically-priced manufactured housing communities and upscale RV resorts. These properties are strategically located in both urban and desirable vacation destinations, contributing to their attractiveness and market appeal. With a commitment to quality living experiences, Sun Communities also offers a range of community amenities and social activities to enhance the lifestyle of its residents. Within the financial market, Sun Communities plays a significant role in providing investors with the opportunity to gain exposure to the stable and growing manufactured housing and RV sectors. Through its extensive and diversified portfolio, Sun Communities is positioned as a leader in these niche real estate markets, supporting its reputation as a reliable and innovative REIT.
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