Reuters reports Sun Communities, Inc. is purchasing four eastern Michigan manufactured housing communities from a group of Rudgate affiliated entities for $70.8 million comprised of 1,996 manufactured home sites. Sun is also financing two other Rudgate communities, which it will then manage, also in eastern Michigan, comprising 1,598 manufactured housing sites. As MHProNews knows, Sun owns and operates 57,100 developed home sites from a portfolio of 164 communities. The transaction is expected to close in Nov. 2012.
(Image credit: Sun Communities, Inc.)