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Sun Communities obtains up to $2B credit facility

Jun 15, 2021 - SNL Real Estate Daily

The new facility may be expanded by up to $1.0 billion in additional borrowings.

Manufactured home real estate investment trust Sun Communities Inc. and Sun Communities Operating LP signed a new credit agreement whereby the operating partnership may borrow as much as $2.0 billion under a revolving loan.

The new agreement combines and replaces an existing $750.0 million credit facility due May 21, 2023, and an existing $1.8 billion credit facility due Oct. 11, 2024.

Sun Communit...