---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-22-104282"
form_type: "8-K"
ticker: "SUI"
cik: "0000912593"
company_name: "SUN COMMUNITIES INC"
filed_at: "2022-04-13T23:59:59+00:00"
generated_at: "2026-06-26T07:48:36.613057+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Sun Communities closes £950M Park Holidays acquisition, upsizes credit facility to $4.2B, appoints new CFO

## Summary
- Acquired Park Holidays, UK's 2nd largest holiday-community owner, for £950M (~$1.3B); 186,044 shares issued to sellers.
- Credit facility expanded to $4.2B (with ability to upsize to $5.0B); revolving line $3.05B, term loan $1.15B; maturities extended to 2025/2027.
- CFO Karen Dearing retires effective May 2, 2022; Fernando Castro-Caratini appointed as new CFO, Secretary, and Treasurer.
- Castro-Caratini previously SVP Finance & Capital Markets at Sun Communities; base salary $550K, bonus up to 130%.
- Park Holidays operation consists of 40 owned/managed communities in UK seaside locations; adds UK exposure.

## SEC filing metadata
- accession: 0001193125-22-104282
- form_type: 8-K
- ticker: SUI
- cik: 0000912593
- company_name: SUN COMMUNITIES INC
- filed_at: 2022-04-13T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 8.01, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/912593/000119312522104282/0001193125-22-104282-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/912593/000119312522104282/d328673d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-22-104282
- JSON: https://secwatch.observer/filing/0001193125-22-104282.json
- Plain text: https://secwatch.observer/filing/0001193125-22-104282.txt

## Key facts
- Executive change
  Karen J. Dearing changed role as Executive Vice President - Special Projects at SUN COMMUNITIES INC.
  - Action: announced retirement from positions as Chief Financial Officer, Secretary and Treasurer and will remain as Executive Vice President - Special Projects
  - Role: Executive Vice President - Special Projects
  source text: on April 8, 2022, Karen J. Dearing announced her retirement from her positions as Chief Financial Officer, Secretary and Treasurer of the Company, effective as of May 2, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/912593/000119312522104282/0001193125-22-104282-index.htm
- Executive change
  Fernando Castro-Caratini was appointed as Executive Vice President, Chief Financial Officer, Secretary and Treasurer at SUN COMMUNITIES INC.
  - Action: appointed
  - Role: Executive Vice President, Chief Financial Officer, Secretary and Treasurer
  source text: Also on April 8, 2022, the Company appointed Fernando Castro-Caratini as its Executive Vice President, Chief Financial Officer, Secretary and Treasurer, effective as of May 2, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/912593/000119312522104282/0001193125-22-104282-index.htm

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