An unknown buyer agreed to acquire 10.25% stake in Ingenia Communities Group from Sun Communities, Inc. $100 million.
October 11, 2023
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An unknown buyer agreed to acquire 10.25% stake in Ingenia Communities Group (ASX:INA) from Sun Communities, Inc. $100 million on October 12, 2023. Sun Communities has decided to dispose of its direct holdings in Ingenia shares and to use the net proceeds to pay down debt.
Sun Communities, Inc. is a fully integrated real estate investment trust (REIT). The Company owns manufactures housing (MH) and recreational vehicle (RV) communities and marinas in the United States, the United Kingdom, and Canada. The Company operates through three segments: MH communities, RV communities, and Marinas. The MH communities segment offers affordable housing to individuals and families, while also providing certain amenities. The RV communities offers affordable vacation opportunities to individuals and families with various amenities. The Marinas offers wet slip and dry storage space leases, end-to-end services, fuel sales and other amenities. The Company owns and operates, directly or indirectly, or had an interest in, a portfolio of 667 developed properties located in the United States, the United Kingdom, and Canada, including 353 MH communities, 179 RV communities and 135 marinas. The Companyâs properties contained an aggregate of 227,340 developed sites.
SUN COMMUNITIES, INC. 
