MHProNews has learned from RVBusiness that Sun Communities, Inc. has purchased ten recreational vehicle communities in seven states from Wis. to Maine for $111.47 million. Of the 3,700 sites, approximately 40 percent have RVs under annual rental contracts. Southfield, Mich.-based Sun—a real estate investment trust (REIT)–also acquired cottages and homes located in the communities for an additional $1.32 million. This acquisition increases Sun’s portfolio to 183 MH and RV communities comprising 67,381 developed sites.
(Photo credit: Sun Communities, Inc.)