Sun Communities, Inc. (NYSE: SUI) has completed the sale of its United Kingdom business, Park Holidays, to Panther Bidco Limited, an affiliate of Aermont Capital. The transaction was finalized on September 22, 2026.
The sale was executed pursuant to a Purchase Agreement dated May 21, 2026, between Sun Communities Operating Limited Partnership and Panther Bidco Limited. At closing, the buyer paid cash consideration of approximately £772.3 million, which converts to approximately $1.05 billion. After accounting for customary locked-box adjustments and transaction costs, Sun Communities received net proceeds of approximately $1.03 billion.
The company stated that the proceeds from the sale will be used primarily for share repurchases, debt reduction, and general corporate purposes. Following the completion of the transaction, Sun Communities is positioning itself as a pure-play North American owner and operator of manufactured housing and recreational vehicle communities.
In related news, Sun Communities reported that through September 21, 2026, it had repurchased approximately 3.5 million shares of its common stock for an aggregate amount of approximately $425 million. The company indicated that it will provide an update to its full-year 2026 outlook during its third quarter 2026 earnings call.
Financial advisors for the transaction included Lazard Frères & Co. LLC (lead) and BofA Securities, BMO Capital Markets, Citigroup, JP Morgan Securities LLC, and Wells Fargo. Legal advisors were Jones Day and Taft Stettinius & Hollister LLP.
