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Sun Communities completes Park Holidays UK acquisition
US real estate investment trust Sun Communities has completed the acquisition of one of Britain’s largest holiday park groups, Park Holidays UK.
The £950 million acquisition was originally agreed in November 2021, and closed this month following approval from the Financial Conduct Authority.
Sun’s backing will enable Park Holidays UK, which owns and manages 42 parks in the UK, to continue to invest in and further expand its parks portfolio.
Sun is one of the largest owners and operators of manufactured housing, recreational vehicle and marina properties.
Park Holidays UK Director Tony Clish said the acquisition will lead to a period of growth for the company:
“The domestic holiday market continues to gain traction in the post-Brexit and post-pandemic environment, and we are seeing an ever-increasing demand for UK holidays,” Clish said.
“This partnership with Sun will bolster our ability to acquire new parks, and to continue driving up quality standards by making additional investments.
“We are excited to welcome the Park Holidays’ team members, holiday homeowners and guests to the Sun family,” said John McLaren, Sun’s President and Chief Operating officer.
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