An unknown buyer acquired 10.25% stake in Ingenia Communities Group (ASX:INA) from Sun Communities, Inc. (NYSE:SUI) for approximately $100 million on October 12, 2023. Sun Communities has decided to dispose of its direct holdings of approximately 41.8 million shares in Ingenia. The sale is anticipated to generate a minimum net proceeds of $100 million. The net proceeds will be used to pay down debt.

An unknown buyer completed the acquisition of 10.25% stake in Ingenia Communities Group (ASX:INA) from Sun Communities, Inc. (NYSE:SUI) on October 12, 2023. The sale generated net proceeds of $102.5 million, which was used to pay down amounts drawn under Sun Communities' Senior Credit Facility.