Sun Communities to buy 11 Morgan RV resorts

(Dec. 17, 2012) -- The aggregate purchase price was $135 million, subject to certain adjustments, which will be paid by cash to pay off all existing secured debt and the balance will be paid in a combination of cash and up to $10 million of newly created Series A-3 Preferred OP units of a newly formed Sun Communities operating limited partnership prior to closing, the SEC filing noted.