Sun Communities, Inc. Designates Baxter Underwood as Executive Officer
November 05, 2020 at 08:44 pm IST
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In connection with the closing of the Merger, on October 30, 2020, Sun Communities, Inc. entered into the Seventh Amendment to Agreement of Limited Partnership Agreement of Sun Communities Operating Limited Partnership and a Registration Rights Agreement with Safe Harbor members that received certain Merger Securities at the closing of the Merger. Baxter Underwood is the Chief Executive Officer of Safe Harbor. Upon the closing of the Merger, the Company's Board of Directors designated him as an executive officer of the Company for purposes of securities laws. Mr. Underwood has served as Safe Harbor's Chief Executive Officer since January of 2017.
Sun Communities, Inc. is a fully integrated real estate investment trust (REIT). The Company owns manufactured housing (MH) and recreational vehicle (RV) communities and marinas in the United States, the United Kingdom, and Canada. The Company operates through four segments: MH communities, RV communities, Marinas, and communities in the United Kingdom (UK). The MH communities segment offers affordable housing to individuals and families, while also providing certain amenities. The RV communities offers affordable vacation opportunities to individuals and families with various amenities. The Marinas offers wet slip and dry storage space leases, end-to-end services, fuel sales and other amenities. The UK segment owns, operates, develops, or has an interest in, a portfolio of communities, referred to as holiday parks, and is in the business of acquiring, operating, and developing communities in the United Kingdom. The Company owns and operates portfolio of 665 developed properties.