An announcement from Sun Communities ( (SUI) ) is now available.
Sun Communities, Inc. announced the sale of its Safe Harbor Marinas to Blackstone Infrastructure for $5.65 billion, aiming to refocus its business strategy on its core MH and RV operations. The transaction is expected to significantly de-leverage Sun’s balance sheet, enhance financial flexibility, and generate an estimated book gain of approximately $1.3 billion, benefiting shareholders and reinforcing the company’s focus on durable annual income streams.
More about Sun Communities
Sun Communities, Inc. operates in the real estate industry, focusing primarily on manufactured housing (MH) and recreational vehicle (RV) communities. The company is a leading owner and operator of MH and RV properties in North America, aiming to streamline its operations as a pure-play MH and RV entity.
YTD Price Performance: 9.45%
Average Trading Volume: 836,237
Technical Sentiment Consensus Rating: Strong Sell
Current Market Cap: $17.07B
For a thorough assessment of SUI stock, go to TipRanks’ Stock Analysis page.