08 04 2016

Sun Communities, Inc. acquires Carefree Communities Inc. for $1.68 Billion

Jaffe Raitt Heuer & Weiss PC and Simpson Thacher have advised on the deal.


Centerbridge Capital Partners II, L.P. sells Carefree Communities Inc. to Sun Communities, Inc. (NYSE: SUI) in a transaction valued at approximately $1.68 billion. Completion of the transaction is expected to occur in July 2016, and is contingent upon customary closing conditions. Carefree Communities, Inc. is a leading owner and operator of senior manufactured housing communities and destination RV resorts. The Company owns 103 high-quality communities, comprising 27,544 sites, concentrated in California, Florida and Canada. Sun Communities, Inc. is a fully integrated real estate investment trust (REIT) listed on the New York Stock Exchange. It owns and operates manufactured housing and recreational vehicle communities throughout the United States. The Simpson Thacher is representing an affiliate of Centerbridge Capital Partners II, L.P. with a team including Greg Ressa, Ravi Purushotham, Whitney Salinas, Frank Mangiatordi, Sarah Green and Kathryn Christoforatos (M&A/Real Estate); Edgar Lewandowski (Capital Markets); John Hart, Jason Vollbracht and Michael Badain (Tax); David Rubinsky, Patricia Adams and Caitlin Lucey (Executive Compensation and Employee Benefits); Michael Isby (Environmental); and Michelle Morad (Intellectual Property). Jaffe Raitt Heuer & Weiss PC. is advising Sun Communities with a team led by Arthur A. Weiss (Picture) and Jeff M. Weiss. Involved fees earner: Gregory Ressa - Simpson Thacher & Bartlett; Ravi Purushotham - Simpson Thacher & Bartlett; Whitney Salinas - Simpson Thacher & Bartlett; Frank Mangiatordi - Simpson Thacher & Bartlett; Sarah Green - Simpson Thacher & Bartlett; Edgar Lewandowski - Simpson Thacher & Bartlett; John Hart - Simpson Thacher & Bartlett; Jason Vollbracht - Simpson Thacher & Bartlett; Michael Badain - Simpson Thacher & Bartlett; David Rubinsky - Simpson Thacher & Bartlett; Patricia Adams - Simpson Thacher & Bartlett; Caitlin Lucey - Simpson Thacher & Bartlett; Michael Isby - Simpson Thacher & Bartlett; Michelle Morad - Simpson Thacher & Bartlett; Jeffrey Weiss - Jaffe Raitt Heuer & Weiss PC; Arthur Weiss - Jaffe Raitt Heuer & Weiss PC;

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