SUN COMMUNITIES, INC. ANNOUNCES SALE OF SAFE HARBOR MARINAS TO BLACKSTONE INFRASTRUCTURE IN AN ALL-CASH TRANSACTION FOR $5.65 BILLION
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Sun Communities, Inc. has announced the sale of Safe Harbor Marinas to Blackstone Infrastructure for $5.65 billion in an all-cash transaction. This move strategically repositions Sun Communities as a pure-play MH and RV focused REIT, enhancing its flexibility through substantial de-leveraging and improving its margin and cash flow profile.
February 24, 2025 | 2:30 pm
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Sun Communities, Inc. has sold Safe Harbor Marinas to Blackstone Infrastructure for $5.65 billion, allowing it to focus on its core MH and RV business. This transaction will help Sun Communities de-leverage and improve its financial profile.
The sale of Safe Harbor Marinas allows Sun Communities to focus on its core business, which is likely to be viewed positively by investors. The transaction also improves the company's financial flexibility and margins, which should support its stock price in the short term.
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