Shearman And Sterling

News June 15, 2021

$2 Billion Senior Revolving Credit Facilities for Sun Communities

Shearman & Sterling represented Citibank, as administrative agent, in connection with $2 billion in credit facilities for Sun Communities Operating Limited Partnership, with an accordion feature allowing the facilities to be increased by $1 billion and the option to treat the additional funds as an incremental term loan. The senior revolving credit facilities were structured in multiple tranches with advances available in U.S. dollars, Australian dollars and Euros.

Sun Communities is the operating partnership for Sun Communities, Inc., a real estate investment trust that owns and operates or has an interest in 562 developed MH, RV and marina properties comprising over 151,600 developed sites and nearly 38,800 wet slips and dry storage spaces in 39 states and Ontario, Canada.

The Team


Regional Experience