Sun Communities Enters Material Agreement, Creates Financial Obligation

TL;DR

SUN just signed a big deal creating a new debt obligation.

AI Summary

Sun Communities Inc. entered into a material definitive agreement on September 17, 2025, which also resulted in the creation of a direct financial obligation. The company, a real estate investment trust, filed this 8-K report on September 22, 2025, detailing these events.

Why It Matters

This filing indicates a significant new financial commitment or transaction for Sun Communities, which could impact its financial health and future investments.

Risk Assessment

Risk Level: medium — The creation of a direct financial obligation suggests new debt or a significant financial commitment, which carries inherent risks.

Key Numbers

• 6798 — SIC Code (Indicates the company operates in Real Estate Investment Trusts.)

Key Players & Entities

• SUN COMMUNITIES INC (company) — Registrant
• Maryland (jurisdiction) — State of Incorporation
• September 17, 2025 (date) — Date of earliest event reported
• September 22, 2025 (date) — Date of Report

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common Stock, $0.01 par value SUI New York Stock Exchange
• $3.05 billion — reement replaces the Company's existing $3.05 billion credit facility extended pursuant to a
• $2.0 billion — redit Agreement, SCOLP may borrow up to $2.0 billion under a revolving loan (the "New Credit
• $1.0 billion — her lenders) in an amount not to exceed $1.0 billion. The New Credit Facility's maturity dat

Filing Documents

• sui-20250917.htm (8-K) — 32KB
• suncommunities-creditagree.htm (EX-10.1) — 1258KB
• image_0.jpg (GRAPHIC) — 4KB
• sui-20250917_g1.jpg (GRAPHIC) — 649KB
• 0000912593-25-000243.txt ( ) — 3142KB
• sui-20250917.xsd (EX-101.SCH) — 2KB
• sui-20250917_lab.xml (EX-101.LAB) — 23KB
• sui-20250917_pre.xml (EX-101.PRE) — 13KB
• sui-20250917_htm.xml (XML) — 3KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. On September 17, 2025, Sun Communities Operating Limited Partnership ("SCOLP"), as borrower, and Sun Communities, Inc. (the "Company"), as parent guarantor, entered into a Credit Agreement with J.P.Morgan, as Administrative Agent, Bank of America, N.A., BMO Bank, N.A., Citibank, N.A., Fifth Third Bank, National Association and Wells Fargo Bank, National Association, as Syndication Agents; PNC Bank, National Association, Regions Bank, Royal Bank of Canada, Truist Bank and US Bank National Association, as Co-Documentation Agents; JPMorgan Chase Bank, N.A., BOFA Securities, Inc., BMO Capital Markets Corp., Citibank, N.A., Fifth Third Bank, National Association and Wells Fargo Securities LLC, as Joint Bookrunners and Joint Lead Arrangers and PNC Capital Markets LLC, Regions Capital Markets, RBC Capital Markets, Truist Securities, Inc., and U.S. Bank National Association, as Joint Lead Arrangers and certain other lenders (the "New Credit Agreement"). The New Credit Agreement replaces the Company's existing $3.05 billion credit facility extended pursuant to a Fourth Amended and Restated Credit Agreement, as amended, dated as of June 12, 2021, by and among SCOLP and certain lenders (the "Prior Credit Agreement"), which was scheduled to mature April 7, 2026. Pursuant to the New Credit Agreement, SCOLP may borrow up to $2.0 billion under a revolving loan (the "New Credit Facility"). The New Credit Agreement also permits, subject to the satisfaction of certain conditions, additional borrowings (with the consent of the Administrative Agent and the other lenders) in an amount not to exceed $1.0 billion. The New Credit Facility's maturity date is January 31, 2030, and, at SCOLP's option, the maturity date may be extended for two additional six-month periods, subject to the satisfaction of certain conditions. The New Credit Facility offers various interest rates for borrowings under U.S. Dollars (alternate base rate (ABR

02 Termination of Material Definitive Agreement

Item 1.02 Termination of Material Definitive Agreement Effective September 17, 2025, the Prior Credit Agreement was terminated in connection with the execution of the New Credit Agreement. Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information contained in and incorporated into Item 1.01 above is hereby incorporated in this Item 2.03 by reference.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits (d) Exhibits. Exhibit No. Description 10.1* Credit Agreement dated September 17, 2025, among Sun Communities Operating Limited Partnership, as borrower; Sun Communities, Inc., as parent guarantor; J.P.Morgan, as Administrative Agent; Bank of America, N.A., BMO Bank, N.A., Citibank, N.A., Fifth Third Bank, National Association and Wells Fargo Bank, National Association, as Syndication Agents; PNC Bank, National Association, Regions Bank, Royal Bank of Canada, Truist Bank and US Bank National Association, as Co-Documentation Agents; JPMorgan Chase Bank, N.A., BOFA Securities, Inc., BMO Capital Markets Corp., Citibank, N.A., Fifth Third Bank, National Association and Wells Fargo Securities LLC, as Joint Bookrunners and Joint Lead Arrangers and PNC Capital Markets LLC, Regions Capital Markets, RBC Capital Markets, Truist Securities, Inc., and U.S. Bank National Association, as Joint Lead Arrangers and certain other lenders 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) * Certain schedules and exhibits have been omitted pursuant to Item 601(a)(5) of Regulation S-K because such schedules and exhibits do not contain information which is material to an investment decision or which is not otherwise disclosed in the filed agreements. The Company will furnish the omitted schedules and exhibits to the SEC upon request by the SEC.

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized. SUN COMMUNITIES, INC. Da ted: September 22 , 2025 By: /s/ Fernando Castro-Caratini Fernando Castro-Caratini, Executive Vice President, Chief Financial Officer, Secretary and Treasurer

View Full Filing

View this 8-K filing on SEC EDGAR