Following a story MHProNews posted Sept. 17 regarding Sun Communities, Inc.’s (SUI) announcement of a public offering to raise shares to help fund its recent $1.32 billion acquisition of 59 manufactured housing communities (MHCs) from Green Courte Partners, LLC, the offering is now closed. The 6,900,000 shares of commons stock, including 900,000 for the underwriter, brought in $50.60 per share, which will result in a net of $348.6 million. $311 million will be used to fund the cash portion of the acquisition, and the remainder will pay back loans, according to nasdaq.com. Sun Communities is a real estate investment trust (REIT) that owns and operates 184 manufactured housing and recreational vehicle communities comprising 69,580 home sites. ##

(Image credit: Sun Communities, Inc.)