Deal Details
Follow-on Offering
Summary
Baird served as a co-manager on this offering
About
Sun Communities, Inc. (“Sun Communities” or the “Company”) (NYSE: SUI) recently completed a follow-on offering of 9,200,000 shares of common stock (including full exercise of the overallotment option) at a price of $139.50 per share, generating gross proceeds of approximately $1.3 billion. The Company intends to use the net proceeds, if any, received upon the future settlement of the forward sale agreement to fund the cash component of the consideration for its previously announced acquisition of Safe Harbor Marinas, LLC.Sun Communities is a publicly traded real estate investment trust that primarily owns and operates or has an interest in manufactured housing and recreational vehicle communities. As of June 30, 2020, the Company owned, operated, or had an interest in a portfolio of 426 communities comprising an aggregate of 142,832 developed sites in 33 states and Ontario, Canada. Sun Communities is headquartered in Southfield, Michigan.
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- Date
- October 2020
- Company
- Sun Communities, Inc.
- Transaction
- M&A
- Sectors
- Real Estate
- Target Geography
- North America
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