Sidley is representing Safe Harbor Marinas in its sale to Sun Communities, Inc., a publicly traded REIT focused on manufactured housing and recreational vehicle communities, in a transaction for cash and equity valued at US$2.11 billion. Safe Harbor Marinas is the largest owner and operator of marinas in the world, operating 101 marinas across 22 states, and was built in partnership with American Infrastructure Funds, Koch Real Estate Investments, Weatherford Capital, and Guggenheim Partners. Safe Harbor Marinas is based in Dallas, Texas. The transaction is subject to customary closing conditions and is expected to close in the fourth quarter of 2020.
The team was led by partner Bill Howell and associate Courtney Gilberg and included associates Jack Zeringue and Stacy Gulledge (M&A), as well as Christian Brause, Tara Lancaster, Katharine Funkhouser and Jennifer Waclawik (Tax); Heather Palmer and Katharine Newman (Environmental); Lauren Grau and Grace Walton (Technology and IP Transactions); Eric Hoffman (Labor, Employment and Immigration); Benjamin Rosemergy and Christian Pilhofer (Employee Benefits); Karen Kazmerzak and Jamie Sadler (Antitrust/Competition); Christopher Fonzone, Clayton Northouse, and Michele Aronson (Privacy and Cybersecurity); and Scott Goldstein (Insurance).
