Description
Sun Communities is a publicly traded real estate investment trust that invests in manufactured housing communities, recreational vehicle resorts, and marinas. As of June 30, 2021 the company owned interests in 569 such communities in the United States and Canada consisting of over 153,300 developed sites and nearly 41,300 wet slips and dry storage spaces.
History
The company dates to 1975.
In December 1993, the company became a public company via an initial public offering.
As of June 30, 2020, the company owned interests in 426 such communities in the United States and Canada consisting of nearly 143,000 sites.
In March 1996, the company acquired 25 manufactured housing communities for $226 million.
In August 1996, the company made a hostile bid to buy Chateau Properties Inc. for $370 million in stock.
In September 1997, the company acquired 9 manufactured housing communities for $93 million.
In September 1999, the company opened its 4th community in Austin, Texas.
In April 2013, the company acquired Yogi Bear's Jellystone Park in Wyoming County, New York.
In August 2015, the company sold properties in Ohio and Michigan to UMH Properties for $34.5 million.
In June 2016, the company acquired a portfolio of 103-communities mostly located in California, Florida, and Ontario, Canada for $1.7 billion from an affiliate of Centerbridge Partners.
In October 2019, the company acquired a portfolio of 31 manufactured housing communities for $343.6 million.
In September 2020, the company acquired Safe Harbor Marinas for $2.11 billion.
