Sun Communities (SUI) to Acquire Carefree Communities in $1.68B Deal
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SUN COMMUNITIES, INC. TO ACQUIRE CAREFREE COMMUNITIES FOR $1.68 BILLION High-Quality Portfolio Focused in Prime Coastal Markets Conference Call Today at 5:00 PM EST
March 22, 2016 4:04 PM EDTSouthfield, MI, March 22, 2016 - Sun Communities, Inc. (NYSE: SUI) (the "Company") today announced that it has entered into an agreement to acquire all of the issued and outstanding shares of common stock of Carefree Communities Inc. ("Carefree Communities") from an affiliate of Centerbridge Capital Partners II, L.P. and its related entities.
Carefree Communities directly or indirectly owns 103 manufactured housing and recreational vehicle ("RV") communities, comprising 27,544 total sites, comprised of 9,829 developed manufactured housing sites and 17,725 RV sites, and approximately 396 additional manufactured housing sites and... More
