Sun Communities Completes UK Asset Sale to Aermont Capital

Southfield, MI, Sept. 22, 2026 /CourierPR/ -- Sun Communities, Inc., a real estate investment trust (REIT) that owns and operates or has an interest in manufactured housing (MH) and recreational vehicle (RV) communities, has completed the sale of its UK assets, including the Park Holidays business, to Aermont Capital, an affiliate of Panther Bidco Limited, in an all-cash transaction. The sale closed with the Company receiving net cash consideration of approximately $1.03 billion, after customary locked-box adjustments and transaction costs.

The sale positions Sun Communities, Inc. as a pure-play North American MH and RV-focused owner and operator, with the proceeds from the sale expected to be used primarily to repurchase shares, pay down debt, and for general corporate purposes. The transaction is expected to have a significant impact on the Company's financial health, as it will allow the Company to focus on its core business in North America.

In a statement, Charles Young, Sun’s Chief Executive Officer, expressed his gratitude to the Park Holidays team for their contributions throughout their ownership. He noted that the sale of Park Holidays positions Sun to execute on its strategy of driving long-term, durable growth through its best-in-class North American MH and RV platform, backed by a flexible, low-leverage balance sheet.

Year-to-date through September 21, 2026, the Company has repurchased approximately 3.5 million shares of its common stock for an aggregate amount of approximately $425 million. The sale of Park Holidays is expected to provide the Company with additional liquidity, allowing it to continue its share repurchase activity.

The Company expects to provide an update to its full-year 2026 outlook, reflecting the completion of the transaction and the related uses of proceeds, on its third quarter 2026 earnings call.

Lazard Frères & Co. LLC acted as lead financial advisor and BofA Securities, BMO Capital Markets, Citigroup, JP Morgan Securities LLC, and Wells Fargo also acted as financial advisors to the Company. Jones Day and Taft Stettinius & Hollister LLP acted as legal advisors to the Company on the transaction. ICR, LLC served as communications advisor to the Company. Rothschild & Co acted as financial advisor and Macfarlanes acted as legal advisor to Aermont.

The sale of Park Holidays to Aermont Capital is expected to have a positive impact on the Company's financial health, allowing it to focus on its core business in North America and continue its strategy of driving long-term, durable growth. The sale is expected to provide the Company with additional liquidity, allowing it to continue its share repurchase activity.