---
schema_version: "secwatch.filing_event.v1"
accession: "0000912593-23-000133"
form_type: "8-K"
ticker: "SUI"
cik: "0000912593"
company_name: "SUN COMMUNITIES INC"
filed_at: "2023-03-27T23:59:59+00:00"
generated_at: "2026-06-17T16:05:22.347443+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Sun Communities issues $100M Series K preferred for marina assets

## Summary
- Issued 1,000,000 Series K Preferred Units at $100/unit (4.0% quarterly distribution) as consideration for contributed assets from Enmark Properties and Savannah Yacht Center.
- Units exchangeable into common OP units at $170 conversion price; each common unit is exchangeable for one share of SUI common stock.
- Partnership can force exchange after 5 years or if SUI stock trades at 120% of conversion price for 60 consecutive trading days.
- Holders can require redemption at $100/unit within 60 days after 5-year anniversary; Company agreed to register resale of underlying common stock within 60 days.

## SEC filing metadata
- accession: 0000912593-23-000133
- form_type: 8-K
- ticker: SUI
- cik: 0000912593
- company_name: SUN COMMUNITIES INC
- filed_at: 2023-03-27T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 1.01, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/912593/000091259323000133/0000912593-23-000133-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/912593/000091259323000133/sui-20230323.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000912593-23-000133
- JSON: https://secwatch.observer/filing/0000912593-23-000133.json
- Plain text: https://secwatch.observer/filing/0000912593-23-000133.txt

## Key facts
- Material Agreements
  SUN COMMUNITIES INC amended Eleventh Amendment to the Fourth Amended and Restated Agreement of Limited Partnership of SCOLP with Sun Communities Operating Limited Partnership (effective 2023-03-23).
  - Action: amendment
  - Counterparty: Sun Communities Operating Limited Partnership
  - Effective: 2023-03-23
  source text: On March 23, 2023, Sun Communities, Inc. (the “Company”), as general partner of its operating subsidiary Sun Communities Operating Limited Partnership (“SCOLP”), entered into the Eleventh Amendment to the Fourth Amended and Restated Agreement of Limited Partnership of SCOLP (the “Partnership Amendment”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/912593/000091259323000133/0000912593-23-000133-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.