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Real Estate Acquisitions and Dispositions (Tables)

6 Months Ended

Jun. 30, 2024

Business Combinations [Abstract]

Schedule of Business Acquisitions, by Acquisition

For the six months ended June 30, 2024, we acquired the following properties:

Property Name

Type

Sites, Wet Slips and Dry Storage Spaces

State, Province or Country

Month Acquired

Port Milford

Marina

92

CT

April

Oak Leaf(1)

Marina

89

CT

April

Berth One Palm Beach(1)

Marina

4

FL

April

Total

185

(1) Combined with an existing property.

Schedule of Purchase Price Allocation

The following table summarizes the amount of assets acquired, net of liabilities assumed, at the acquisition date and the consideration paid for the acquisitions completed during the six months ended June 30, 2024 (in millions):

			At Acquisition Date																														Consideration
			Investment in property						Inventory of manufactured homes, boat parts and retail related items						Goodwill and other intangible assets						Other assets, net						Total identifiable assets acquired net of liabilities assumed						Cash and escrow												Temporary and permanent equity(1)						Total consideration
Asset Acquisition
Port Milford(2)			$	3.9					$	—					$	0.1					$	(0.4)					$	3.6					$	1.1											$	2.5					$	3.6
Berth One Palm Beach(3)			2.9						—						0.1						0.2						3.2						3.2												—						3.2
Business Combination
Oak Leaf(3)(4)			5.1						0.1						—						—						5.2						5.2												—						5.2
Total			$	11.9					$	0.1					$	0.2					$	(0.2)					$	12.0					$	9.5											$	2.5					$	12.0

(1) Refer to Note 10, "Equity and Temporary Equity," for additional detail.

(2) In conjunction with this acquisition, we issued 19,326 common OP units valued at $2.5 million.

(3) Combined with an existing property.

(4) The purchase price allocation is preliminary as of June 30, 2024, subject to revision based on the final purchase price allocations to be finalized one year from the acquisition date.

Summary of Real Estate Dispositions

The following real estate dispositions occurred during the six months ended June 30, 2024:

Property Name						Property Type						Number of Properties						Sites, Wet Slips,  Dry Storage Spaces and Development Sites						State, Province or Country						Month Disposed						Net Cash Proceeds						Gain on Disposition(1)
Spanish Trails and Sundance						MH						2						533						AZ & FL						February						$	51.7					$	6.2
Littondale						MH						1						114						UK						May						$	5.4					$	2.2

(1) Recorded in Gain / (loss) on dispositions of properties on the Consolidated Statements of Operations.

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Summary of Real Estate Dispositions

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Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts.

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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479328/805-10-50-3

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-URI https://asc.fasb.org/1943274/2147479328/805-10-50-2

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Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

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