This $1.3 Billion Deal Opens Up This REIT's Growth Options

Sun Communities (NYSE: SUI) has a niche property type that's positioned to prosper as baby boomers retire. It's not a healthcare real estate investment trust (REIT), though it does offer seniors an affordable housing option via its collection of mobile home parks. But recent moves suggest that management is taking the portfolio to the next level.

When mobile home parks get shown on television shows and in movies they are generally presented in a rather unflattering light. Those types of trailer parks undoubtedly exist, but they aren't exactly representative of the category. Sun Communities' mobile home assets are more like little resorts, with amenity-filled properties in high-demand markets in coastal regions and retirement havens. Mobile home parks make up around half of the real estate investment trust's rents today.

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Source Fool.com