Shearman & Sterling represented Citibank, N.A. as administrative agent and sole lead arranger in connection with £950 million in senior unsecured bridge financing commitments for Sun Communities, Inc.’s pending acquisition of Park Holidays UK.
Park Holidays UK is the second largest owner and operator of holiday communities in the UK, boasting ownership and operation of 40 communities in addition to owning two managed communities. The majority of its communities are located in highly coveted, seaside locations in the South of England. Sun Communities, Inc. (Ticker: SUI) is a Southfield, Michigan-based fully integrated real estate investment trust in the business of acquiring, operating, developing, and expanding, marinas, manufactured home communities, and recreational vehicle communities. Sun Communities, Inc. owns interests in at least 584 such communities spanning the United States and Canada.
The Shearman & Sterling team below included Alex Bakes.