---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-032906"
form_type: "8-K"
ticker: "SUI"
cik: "0000912593"
company_name: "SUN COMMUNITIES INC"
filed_at: "2025-02-24T23:59:59+00:00"
generated_at: "2026-05-26T06:41:59.922254+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Sun Communities sells Safe Harbor Marinas to Blackstone for $5.65B, refocuses on MH/RV

## Summary
- All-cash purchase price of $5.65B, subject to post-closing adjustments; initial close expected Q2 2025.
- Pre-tax proceeds ~$5.5B to be used for debt reduction, dividends, and reinvestment in core MH/RV business.
- Net debt to pro forma EBITDA expected to drop from ~6.0x to 2.5–3.0x; estimated book gain ~$1.3B.
- Post-transaction, MH/RV portfolio expected to generate ~90% of NOI, positioning Sun as pure-play REIT.
- Certain properties (~10% of consideration) may transfer later subject to third-party consents.

## SEC filing metadata
- accession: 0001193125-25-032906
- form_type: 8-K
- ticker: SUI
- cik: 0000912593
- company_name: SUN COMMUNITIES INC
- filed_at: 2025-02-24T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/912593/000119312525032906/0001193125-25-032906-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/912593/000119312525032906/d919977d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-032906
- JSON: https://secwatch.observer/filing/0001193125-25-032906.json
- Plain text: https://secwatch.observer/filing/0001193125-25-032906.txt

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