Sun Communities Inc., a Southfield, Mich.-based real estate investment trust that owns and operates manufactured housing communities, has posted a net loss of $7.4 million ($0.41 per share) for the second quarter, compared with a loss of $2.2 million ($0.12 per share) a year earlier. Included in the most recent loss was a $6.8 million adjustment to the carrying value of Sun's investment in Origen Financial Inc., also of Southfield, a REIT that until recently was an originator and servicer of manufactured housing loans. Using the funds from operations measurement, Sun had profits of $4.8 million ($0.23 per share), down from $13.7 million ($0.68 per share) for the second quarter of 2007.
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