Premium holiday park operator Park Leisure has been sold to US-based real estate investment trust [REIT] Sun Communities for an enterprise value of £182 million by investment and advisory firm, Midlothian Capital Partners [MCP], and a consortium of investors.
The transaction remains subject to regulatory approvals, as well as the now-confirmed completion of Sun’s acquisition of Park Holidays for £950 million [$1.3 billion], and is expected to close in the second half of this year.
Founded in 1998, Park Leisure operates eleven five-star parks all located in coastal areas or areas of outstanding natural beauty across the UK. In the meantime, the group has built a portfolio of owner-led parks with approximately 2,900 pitches.
The Jones Day team was led by Ben Larkin (Picture) and Vica Irani.
Law Firms: Jones Day;
Clients: Sun Communities, Inc.;