Follow-On Offering

Real Estate
Follow-On Offering

Summary

Baird served as bookrunner to Sun Communities, Inc. on this transaction.

About

Sun Communities, Inc. (“Sun Communities” or the “Company”) (NYSE: SUI) recently completed a follow-on offering of 5,250,000 common shares at a price of $66.50 per share, generating gross proceeds of approximately $349.1 million. Sun Communities intends to use the net proceeds from this offering to fund a portion of its roughly $1.68 billion acquisition of Carefree Communities Inc. (“Carefree”).

Sun Communities is a self-administered and self-managed real estate investment trust, or REIT. Sun Communities owns, operates and develops manufactured housing and recreational vehicle communities throughout the United States. The Company has been in the business of acquiring, operating, developing and expanding manufactured housing communities since 1975. Pro forma for the Carefree acquisition the Company will own and operate a portfolio of 334 properties located in 30 states and Canada, with 116,166 sites, 96% occupancy and 10,163 expansion sites. Sun Communities is headquartered in Southfield, Michigan.

For additional information about this transaction, please contact:

Peter Kies +1 (414) 765-7262
Tom O’Hare +1 (202) 303-1811
Gary Placek +1 (414) 765-3611
Real Estate
Follow-On Offering
Date
March 2016
Company
Sun Communities, Inc.
Transaction
M&A
Sectors
Real Estate
Target Location
North America

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