Monday, December 22, 2014

IT ''AIN'T'' US FOLKS!


THIS POST IS AN ANSWER TO QUESTIONS AND ISSUES, RAISED IN THE PREVIOUS POST.
  The attachment below is taken from the SEC filings of Sun communities Inc.---The filing lists the mobile home parks in the news release. Two of the purchases are right across the street---DEERWOOD. The other parks are not in the immediate Orlando area. The head line for the press release was somewhat misleading. One of the parks is in the Lakeland area, another in Davenport.
  Hopefully the new owners of Deerwood will provide some amenities for their residents,as to curtail the ''Deerwood moochers'' from coming over here!
  I would like to thank 2 lady residents for contacting me and helping with securing the fact that ''We ain't one of them''
  Once again ,this demonstrates that residents communicating and working together, can get questions answered and problems solved. Without the residents attention, this site is without purpose.----Again, thank you ladies, -----you and all other contributors are appreciated!



Item 1.01 Entry into a Material Definitive Agreement.
On December 4, 2014, Sun Communities, Inc. (the "Company"), through its operating subsidiary Sun Communities Operating Limited Partnership ("SCOLP"), entered into seven separate contribution agreements (the "Contribution Agreements") with a group of related selling entities (collectively, the "Selling Parties") with respect to the planned acquisition by SCOLP of a portfolio of seven manufactured housing communities (collectively, the "Properties"), including associated manufactured homes and certain other personal property and intangibles. After closing, the Company will operate the Properties as six communities rather than seven. The Properties are located in the Orlando, Florida area, are comprised of approximately 3,150 manufactured housing sites (approximately 60% of which are in age-restricted communities) and are 96% occupied. In addition to the developed sites, there are approximately 380 potential expansion sites in the Properties. The Properties and Selling Parties are: 
Property                          Selling Parties
Deerwood I                        Deerwood I Sponsor, LLC, Deerwood I Holding,
                                  LLC and Deerwood I Park, LLC
Deerwood II                       Deerwood II Sponsor, LLC, Deerwood II Holding,
                                  LLC and Deerwood II Park, LLC
Hamptons                          Hamptons Sponsor, LLC, Hamptons Holding, LLC
                                  and Hamptons Park, LLC
Palm Key Village                  Palm Key Village Sponsor, LLC, Palm Key Village
                                  Holding, LLC and Palm Key Village Park, LLC
The Ridge                         481 Associates and Route 27 Associates, Ltd.
Southport Springs                 Southport Springs Sponsor, LLC, Southport
                                  Springs Holding, LLC and Southport Springs
                                  Park, LLC
Windmill Village                  Windmill Village Sponsor, LLC, Windmill Village
                                  Holding, LLC and Windmill Village Park, LLC

4 comments:

Unknown said...

SPECIAL NOTE
Please be advised that the Deerwood community is divided into 2 divisions. Both divisions are in the proposed purchase, thus creating the total count of seven parks reported. The purchase of Gulfstream park, was in an earlier package purchase.

Anonymous said...

Thanks Bill, and to the other park residents who assisted you.

Anonymous said...

Thank you for the update... Why would Hometown sell? Its a Gold Mine !!!!

Anonymous said...

Very true about the goldmine, we are their biggest money maker