Sun Communities Will Buy 4 Communities for $70.8M from Rudgate

Sun Communities, Inc.

(the "Company"), a real estate investment trust ("REIT") that owns and operates manufactured housing and recreational vehicle communities, today announced that, on October 3, 2012, it has entered into a purchase agreement with Rudgate Silver Springs Company, L.L.C., Rudgate West Company Limited Partnership, Rudgate East Company Limited Partnership, Rudgate East Company II Partnership, and Rudgate Hunters Crossing, LLC (the "Sellers") to acquire four manufactured housing communities for an aggregate purchase price of $70.8 million, including the assumption of $15.7 million of debt with the balance paid in cash. The four communities, which are located in Eastern Michigan, are comprised of 1,996 manufactured housing sites.  The closing of this transaction is subject to customary closing conditions, including the consent of the existing lenders, and this transaction is expected to close in November 2012.