Real Estate Acquisitions (Tables)

3 Months Ended

Mar. 31, 2012

Business Combinations [Abstract]

Schedule of Purchase Price Allocation

The following table summarizes the amounts of the assets acquired and liabilities assumed recognized at the acquisition dates and the consideration paid for Kentland, Orange City, Cider Mill, the Florida Properties, and the Additional Florida Properties (in thousands):

At Acquisition Date	Kentland			Orange City		Cider Mill			Florida Properties			Addtl Florida Properties			Total
Investment in property	$	131,228		$	6,460	$	2,088		$	24,027		$	25,384		$	189,187
Inventory of manufactured homes	1,150			—		—			36			112			1,298
Notes	3,542			—		—			—			—			3,542
In-place leases	9,200			10		—			190			180			9,580
Other assets	1,269			—		—			97			—			1,366
Other liabilities	(2,067		)	—		(1,678		)	(1,237		)	(1,194		)	(6,176		)
Assumed debt	(52,398		)	—		—			—			—			(52,398		)
Total identifiable assets and liabilities assumed	$	91,924		$	6,470	$	410		$	23,113		$	24,482		$	146,399
Consideration
Cash (1)	$	27,383		$	2,533	$	410		$	6,113		$	24,482		$	60,921
Preferred OP units	45,548			—		—			—			—			45,548
New debt proceeds	18,993			3,937		—			17,000			—			39,930
Fair value of total consideration transferred	$	91,924		$	6,470	$	410		$	23,113		$	24,482		$	146,399

Pro Forma Information

The unaudited pro forma results have been prepared for comparative purposes only and do not purport to be indicative of either the results of operations that would have actually occurred had these transactions occurred on January 1, 2011 or the future results of operations (in thousands, except per-share data) ⁽¹⁾.

	Three Months Ended March 31,
	(unaudited)
	2012		2011
Total revenues	$	83,619	$	76,802
Net income attributable to Sun Communities, Inc. shareholders	$	5,746	$	2,602
Net income per share attributable to Sun Communities, Inc. shareholders - basic	0.22		0.13
Net income per share attributable to Sun Communities, Inc. shareholders - diluted	0.22		0.13

Schedule of Revenue and Net Income from acquistions

The amount of Kentland's, Orange City's, Cider Mill's, the Florida Properties', and the Additional Florida Properties' revenue and net income included in the Consolidated Statements of Operations for the three months ended March 31,2012 is set forth in the following table (in thousands):

	Revenue		Net Income
Three Months Ended March 31, 2012	$	8,175	$	1,680