Michigan Firm Acquires Danbury Senior Community

DANBURY, CT — A Michigan-based real estate investment trust has acquired Lakeview, a Danbury-based senior community.

The purchase is part of a $346.6 million deal for a 31-property portfolio picked up by Sun Communities, headquartered in Southington, MI, which operates communities for seniors in eight states. The firm uses manufactured housing for its residences.

The deal is a product of a merger between Lakeview owner Jensen’s, Inc. into a subsidiary of Sun Communities.

"This acquisition is a great opportunity to further grow our manufactured housing portfolio with high-quality communities that match our investment criteria," said Gary Shiffman, Sun Communities chairman and CEO in a release.

The portfolio is made up of 5,230 developed sites and more than 460 additional expansion sites available for development. The communities are located in eight states, with 35 percent of the sites in Connecticut. The 77 percent age restricted portfolio is approximately 92.5 percent occupied as of June 30, 2019.