Macfarlanes has advised Aermont Capital (Aermont) on the completion of its acquisition of Sun Communities’ UK assets, including the Park Holidays business, in an all-cash transaction for net cash consideration of approximately $1.03bn.
Sun Communities is a Real Estate Investment Trust (REIT) that owns and operates, or has an interest in, manufactured housing and recreational vehicle communities. Park Holidays operates from more than 50 locations across the UK.
Aermont is a European asset management group focused on real estate and real estate-related investment activities. Its funds and related vehicles have received aggregate equity commitments of around €13bn from institutional investors across Europe, North America, the Middle East and Asia.
The transaction was led by Private Capital Real Estate Partner Victoria Hills and M&A Partner Greg James, with support from Senior Associate Natasha Sellayah and Associate Dev Patel in M&A, and Associates Jake Simons and Associate Rhiya Lall in Private Capital Real Estate. Financing advice was provided by Partner Laura Bretherton, Senior Associate Christian Anthony and Associate Aanika Matin. Real Estate advice was provided by Partner Tania Barnes, Senior Associate Maria Cannatella-Barcroft and Associates Lucy Johnson and Joseph Mukozho. Tax advice was provided by Partner Joe Robinson, and Associates Simon Fraser and Martha Barnes. Financial Regulatory advice was provided by Partner Michael Sholem and Associate Ayman Shash.