It does look like it's going down a little bit year-over-year. But that being said, we can't underscore the fact that with this increased cost, as Fernando mentioned of $18 million, we're still seeing at Same Property growth of 5.4% at the midpoint. The proceeds were used to repay amounts on our revolving credit facility. (business & personal). Occupancy in our Same Property MH and RV portfolio remained strong, increasing 180 basis points during 2022 to end the year at 98.6%. No. So that is one area. CFO at Sun Communities Southfield, Michigan, United States. We did over since December of 2021 about 850 of treasury locks and swaps. Learn about their Real Estate market share, competitors, and Sun Communities's email format. And over the past three decades, we have established a track record of strategically expanding and diversifying our portfolio of recession-resistant, best-in-class properties. The strength of our portfolio is a direct result of our irreplaceable locations, the hard work of our team members and our continued reinvestment in our communities. I just want to make sure I'm looking at it correctly. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. They definitely came in looking pretty strong, so just a few questions. I think that absolutely does have bearing on how we think about things and how we look at things. Gary A Shiffman owns about 1,016,253 units of Sun Communities Inc common . These new sites will begin contributing revenue in 2023 and provide a new base for growth in the coming years. My first question is on the insurance. We were expecting about a 90-basis point increase year-over-year in revenue from transient RV. Up to 5 Okay. GARY A. SHIFFMAN Chairman, Chief Executive Officer, and President Gary A. Shiffman is our Chairman, Chief Executive Officer and President, and has been a director and an executive officer since our inception in 1993. For those who would like to participate in the question-and-answer session, management asks that you limit yourself to two questions, so everyone who would like to participate has ample opportunity. Maybe a follow-up on that in terms of the development sites. Okay. Included in our revenue-producing site gains were over 2,250 transient RV annual lease conversions this year, a new record for Sun. This does conclude the company's remarks. Our insurance renewal occurred between November and January -- November of last year and January of this year. Our strategic approach has delivered an attractive balance of a reliable organic growth and strong FFO per share increases. Find contact information for Sun Communities. One is running the whole community into the ground. We've also taken advantage of the fact that our assets that are still under secured financing or still have mortgages, because of their strong performance, we're able to borrow up on existing financings and did a $311 million one that closed between December and January over the course of the last couple of months. 2023 Sun Communities, Inc. All Rights Reserved. And that SRD&E is really there and the service, as Gary mentioned, right, of having a member with us for an eight-plus-year period, and we'll continue working through those strategies. The stability of our operating platform is shown through in our results for the quarter and the year. Sun Communities said the purchase diversifies its geographic and demographic footprint. Caucasian employees are most confident in their Executive Team. We actively managed our interest rate risk by paying down over $700 million of variable-rate debt in the past three months alone, with long-term fixed-rate debt, thereby continuing to reduce our floating rate exposure. Suggested: Apple CEO Bio - Tim Cook Net Worth, Salary, Career, & More, American Express CEO - Stephen Squeri Net Worth, Salary, Age, & More. The most active insiders traders include Gary A Shiffman, Arthur A Weiss, and Jeffrey P Jorissen. With regard to the three properties most directly affected by Hurricane Ian, I would note that the cleanup is complete, and we have started the rebuilding process. I think you mentioned and maybe in the prepared comments that it was almost like a loss leader. 320,000, I think, we talked about moved in there last year. That 90% is ahead of the same time last year and the previous years. Similar Profiles. We negotiate as a package. Is this your company? Sun Communities, a real estate investment trust based in Southfield, Michigan, announced the purchase of 104 marinas in 22 states including 18 marinas across Connecticut and Rhode Island in a deal valued at $2.1 billion in cash and stock. Hi, good afternoon. Sign up for a free account. Contact Us. Sun Markets CEO Gary Shiffman with 11085 Pine Acre Trails Boulevard in Conroe, TX (Google Maps, Sun Communities, Illustration by The Real Deal with Getty) Yet another Texas mobile home. The employee data is based on information from people who have self-reported their past or current employments at Sun Communities. No credit card required. Today marks a very special day, and really want to take this opportunity to thank John for his unbelievable stewardship, both as President and Chief Operating Officer since 2008, if I got that correct. Welcome to the Sun Communities Fourth Quarter and Year End 2022 Earnings Conference Call. She joined us in 1998 as a Director of . I feel like throughout the fall, the messaging on the rate growth you were sending out was going to line up with expense growth. Despite the high inflation environment, for 2023, we expect G&A expense to run between $256 million and $262 million, which equates to minimal growth over 2022 at the midpoint. I'd like to thank all of our Sun team members who contributed extraordinary efforts to our collective success. {{ userNotificationState.getAlertCount('bell') }}. All-Age Communities; Active 55+ Communities. And I think our strategy has really stood the test of time. Gary Shiffman and the Sun Communities leadership team are scored a C by 31 employees placing it in the Bottom 40% of companies sized 1,001-5,000 Employees on Comparably. I think that we don't typically provide guidance towards acquisitions and, of course, capital marketplace activities. On the U.K. side, we're seeing enormous strength on the higher end of home buying, the more expensive homes increasing. Gary Shiffman bought 364.42k shares over the last 12 months at an average price of US$195. SUN COMMUNITIES, INC. is an Arizona Business filed on October 7, 1997. So, home sale prices fell by 15% from last quarter in the U.K., but was flat in U.S. MH business. We anticipate investing roughly $200 million in our ground-up development and expansion activity. So, I think, again, 40-year track record, 30-year public, 10-year private, indicates that we will be able to continue to get the correct growth based on the value proposition. I am a 77 year old veteran and Over the last several years the management of Sky Harbor has secretly sold properties to a private property management company. I guess maybe for Gary, just on the home sales in general, whether it's U.S., U.K., are you seeing anything by region, by product type, by price point? Last updated: 27 February 2023 at 4:00pm EST. RBC Capital Markets is positief over het aandeel met een koopadvies. And a Car. The company's filing status is listed as Appointed 08/05/2005 and its File Number is F08203384. Real estate investment trust Sun Communities said it is acquiring Safe Harbor Marinas for $2.11 billion. The chart below shows insider transactions (by companies and individuals) over the last year. Like, obviously, like insurance jumped up a lot this year outside of your control a little bit. Thank you. Total Compensation for Fiscal Year Ending in 2021: $ . We've done over $2.2 billion of IG unsecured bonds with that public market. I think just general good stewardship of how we think about reducing that variable debt. About Us: How construction costs changed on those? (248) 208-2500 Company Sun Communities Gary Shiffman Current Workplace Sun Communities Location 27777 Franklin Rd Ste 200, Southfield, Michigan, 48034, United States Description Industry Real Estate Discover more about Sun Communities Gary Shiffman Work Experience and Education Education North-western University Board Memberships & Affiliations As John likes to say, it's a lot harder to book a Tuesday or a Wednesday than it was during COVID as people are back to school, back to work. Today, we stand at about 16% floating-rate debt. SEC Form 4 FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIPFiled pursuant to Section 16(a) of the Securities Exchange Act . Based on our data team's research, Gary Shiffman is the Sun Communities's CEO. And more so a question on how we should think about modeling this line item going forward. We continue to evaluate parts of our portfolio where we think we can redeploy the capital with greater growth. Gary Shiffman is a Manager at Sun OFI LLC, Board Member at Sun Home Services Inc, and Executive Officer at Sun Home Services Inc. | 1 maart 2023 The outperformance is due to higher demand for wet slips and dry storage spaces. Could you maybe go into the three deals you did in December, MH, RV, marina in terms of cap rate sourcing? Thanks a lot for taking my question. Thank you very much. Find contact details for 700 million professionals. Jul 27, 2021, 11:00 a.m. Gary Shiffman About Us; Blog; Press; AFLCIO.tv; Union Plus Benefits; Toggle Search Form. With regard to home sales, our average new home selling price in the U.S. was $196,000 for the quarter, reflecting the high demand at and strategic locations at our properties. SUN COMMUNITIES INC income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. You can see the complete history of Mr. Shiffman stock trades at the bottom of the page. Search Search. Read more Brian Hermelin Board Member C Clunet Lewis And I would remind the market, we have very manageable maturities, no looming towers over the course of the next couple of years. Please. Reason #1 to Attend: Learn. We've just elected to shift smaller margin over to higher valuation in the form of sticky rent. And while these aren't loss leaders, we are passing off gas, fuel at our cost to attract members. So, that doesn't reflect market prices to 15%? So, can you walk through some of the pressure or other factors that are below the line that's not when you see the Same Property NOI growth flow through to the FFO? Stock Symbol. And the only thing I'd add and then we covered in our posted deck is the delta difference between alternatives, whether it being single-family residential, whether it be multifamily, where you still do provide 25% more space at 50% of the per square foot cost offer a lot of advantages of being able to pull right up to the house, bring your groceries on, have your car in a carport, a garage, et cetera. Our next question is from the line of Brad Heffern with RBC Capital Markets. So really, really strong demand. million verified professionals across 35 million companies. 27777 Franklin Rd, Ste 200, Southfield, Michigan 48034, US, View Marina has exceeded our expectations with a 10.4% increase in same marina NOI during the quarter and a 7.7% increase for the full year. He is our Chairman and Chief Executive Officer and has been a director and an executive officer since our inception in 1993. Gary A. Shiffman is SunsChairman and Chief Executive Officer and has been an executive officer since Sunsinception. SUI earnings call for the period ending June 30, 2021. Our guidance assumes we increase revenue-producing sites by 2,800 to 3,100 sites in 2023. Just one quick one from me on acquisitions. I think it reflects our strategic plan with management. Yes. The company undertakes no obligation to advise or update any forward-looking statements to reflect events or circumstances after the date of this release. Please disable your ad-blocker and refresh. Value proposition of an RV vacation one to three hours from home opens Sun to new customers who discover or rediscover the joy of a long-term RV experience. And then, about 20%, 25% of it is, right, we -- is the FX on the debt amount. As our 30-year track record has demonstrated, we have a business model that delivers results throughout economic cycles, supported by compelling supply-demand fundamentals. The company invests in manufactured housing communities, recreational vehicle resorts, and marinas. We will now be conducting a question-and-answer session. Average price was about $196,000. 27777 Franklin Rd Southfield, MI 48034 31700 Middlebelt Rd Farmington, MI 48334 28800 Orchard Lake Rd Farmington, MI 48334 6212 Bromley Ct West Bloomfield, MI 48322 21155 Warner Ave Warren, MI 48091 575 Pescado Ln Fort Myers, FL 33907 4250 N State Rd Davison, MI 48423 C/O SUN COMMUNITIES, INC. So, in the Park Holidays portfolio, correct [if I'm getting] (ph) this wrong, 40% of all homebuyers have stayed in one of the rentals in the property and 60% of all buyers have stayed in a rental, in a park, in a holiday property. We're looking to build our new developments to a high single-digit unlevered IRR upon stabilization. (Suggested: Healthpeak Properties CEO Email & Net Worth Tom Herzog). Your NOI is expected to grow 4.5% to 5.7%. And as we have done in the U.S. over the years, we have used our Park Holidays' footprint to opportunistically scale our presence in the U.K. No credit card required. Just curious how kind of the, I guess, economic uncertainties are kind of weighing on sales and whether you're seeing any bumps in the road as you kind of look into '23. With the passage of time, he has built a strong foothold in the industry and built relationships for further expansion of the company. Gary Shiffman Chairman & Chief Executive Officer Sun Communities, Inc. Gary A. Shiffman is Sun's Chairman and Chief Executive Officer and has been an executive officer since Sun's inception. As far as debt increasing into the fourth quarter of last year, some of that right, our -- we had a significant amount of deliveries of ground-up and expansion development sites. Is that how you guys are thinking about it? Good morning. Contact Personal Website (s) garyshiffman.com Giant Oak, Inc. Consileint Bio and Featured Works Professor Gary M. Shiffman explores relationships between behavioral science and national security. The most recent stock trade was executed by Clunet R Lewis on 27 February 2023, trading 1,500 units of SUI stock currently worth $222,765. Yes, we are seeing positive strength there. The oldest executive at Sun Communities, Inc. is ClunetLewis, 73, who is the Lead Independent Director. We relocated as many people as possible to other properties, including our team members in the area. In light of current market conditions, we have shown discipline with regard to our approach to capital allocation, and we'll continue to do so going forward. For the 31 properties Park Holidays has owned since at least January 2021, home sales rose 17%. sun communities inc sun communities sun communities - inc sun communities inc sun properties sun properties - inc Sun Communities Global Presence Search All Employees Sun Communities CEO As a reminder, our guidance includes acquisitions, dispositions and capital markets activity through February 22, 2023, and the effect of a property disposition under contract expected to close in March 2023. And I'll let John talk really about a 40-year history of manufactured housing. Reason #2 to Attend: Network. We have about $117 million, $118 million coming due in the second half of the year and are being programmatic about locking in that cost today, as we've done over the course of the last couple of years. Healthpeak Properties CEO Email & Net Worth Tom Herzog, T. Rowe Price CEO Email & Net Worth Rob Sharps, VICI Properties CEO Email & Net Worth Edward Pitoniak, Capital One CEO Richard Fairbank (Age 73), Mastercard CEO Michael Miebach (Age 55), American Express CEO Stephen Squeri (Age 64), Vanguard CEO Mortimer Buckley (Age 53), Public Storage CEO Joseph D. Russell, Jr. (Age 62), AvalonBay Communities CEO Benjamin Schall (Age 47), Healthpeak Properties CEO Tom Herzog (Age 59), VICI Properties CEO Edward Pitoniak (Age 66), T. Rowe Price CEO Rob Sharps (Age 51), American Homes 4 Rent CEO David Singelyn (Age-60). And so, it's something that we watch and talk about very closely as we think about what increases and how we can push further on both MH and RV. The Leadership score includes details about how employees evaluate their executive team, CEO and manager. I think from the booking pace perspective, right now, we are trending just a little bit ahead of last year, which is great. Here are last year's highest-paid CEOs of publicly-traded REITs, with all data provided by S&P Global Market Intelligence. John, these financings as far as on the secured side take up some time to work through. So, I would just point to the overall increase in insurance. Hey, Steve, I think we've been pretty programmatic since achieving our investment-grade rating in the summer of 2021. And he alluded to it, the rising rates is not necessarily a surprise, especially in the last few months. Gary Shiffman . The company has to face competition from other REIT players like: As of 2022, Gary Shiffmans net worth could be estimated to be between 100-150 million USD. Similar to last quarter, this quarter's outperformance was driven by total marina real property NOI, interest income and U.K. tax favorability. We prefer the stickiness of the rent over the one-time margin on the home sales. Get contact details including emails and phone numbers Your email address will not be published. We continue to deliver long-term cash flow stability. These investments have accretive going-in cap rates, and we believe they will deliver significant ongoing growth and yield strong returns. Technologies. Got it. So, we're not running to shed assets, but we are reviewing them very, very carefully as to growth. Yes, Wes, it's Gary. And then, on the U.K., it looked like MH occupancy was down almost 300 basis points in the fourth quarter. Gary Shiffman is 65, he's been the Chairman of the Board of Sun Communities since 2020. The U.K. market for holiday parks remains highly fragmented. Mr Shiffman was appointed to the Board in December 2018. And so basically, we're just executing the plan that we set out to do. Sun Communities has 3,146 employees, of which 5 are in a leadership position. And as we've shared, again, that today, one of the areas that I think differentiates Sun and gives us the greatest opportunity is the ability to create new ground-up developments and expand our manufactured housing portfolio. Yes. We have increased rents throughout economic cycles, and our strong results for 2022 and outlook for Same Property NOI growth in 2023 demonstrates the benefits of operating in segments where supply is perpetually constrained and demand is resilient. They're actually trending a little bit ahead of this past year, which of course, as we shared before, is great because that is the feeder for more holiday home sales and more rent paying sites. Thank you. SUN COMMUNITIES INC annual reports of executive compensation and pay are most commonly found in the Def 14a documents. Safe Harbor's operating team, led by Baxter . Our Culture: {{ userNotificationState.getAlertCount('bell') }}. Please go ahead. For the full year, Same Property MH and RV NOI grew 5.4%, driven by a 5.7% increase in revenue and a 6.2% increase in expenses. So, your math as far as the headwind from an expense growth perspective tracks. And by paying down that debt, if that's what we elect to do, we obviously recapture of that lost interest rate. Thanks for that. Got it. Image source: The Motley Fool. And then, Josh, yes, the bulk of the SRD&E NOI year-over-year is coming from that active program on the fuel side. Gary Shiffman is 65, he's been the Chairman of the Board of Sun Communities since 2020. We are nearly 95% booked, which is better than we were at this time last year for Q1. But if you look out into the whole year, we're a little bit ahead in total booking pace, meaning bookings that have actually happened at this point in time versus where we were last year. We are also providing certain guidance data points to help the investment community track Park Holidays' performance. Last updated 24 days ago. You will network with leading professionals from around the country and bring back best practices to your workplace. Denso International America, Inc. Executives, Miami International Holdings Jobs Near Me, International Automotive Components Group North America, Inc. Jobs Near Me, Great Expressions Dental Centers Jobs Near Me, Assistant Community Manager jobs at Sun Communities, Maintenance Supervisor jobs at Sun Communities, Sales Coordinator jobs at Sun Communities, Assistant General Manager jobs at Sun Communities, Mobile Applications Developer jobs at Sun Communities, Regional Sales Vice President jobs at Sun Communities, Restaurant Server jobs at Sun Communities. You might contact Gary A Shiffman via mailing address: 27777 Franklin Road, Ste 200, Southfield Mi 48034. Mr. Shiffman, you may begin. Safe Harbor Marinas Acquired for $2.1 Billion. Certainly with the headwinds of interest rates today, that is one big focus, Wes. Thanks for that answer. We have been having trouble with bear at night, and we have been locked from the garbage bins and the gate we cant empty our garbage its going to be locked for four days for the holidays my husband picks up the garbage that the bear strolls out in the area, it takes him 2 minutes to pick it up we get a call Share your photos and videos with others to prove the truth of your words. I don't have the numbers right in front of me, and we can get back to you or perhaps Fernando does, but you're absolutely correct. Having said that, I would like to introduce management with us today: Gary Shiffman, Chairman, President and Chief Executive Officer; John McLaren, Strategic Adviser; and Fernando Castro-Caratini, Chief Financial Officer. For the full year 2022, Sun delivered approximately 1,160 expansion sites at 11 existing communities and over 840 sites at six development communities in the U.S. for a total of 2,000 future revenue-producing sites. And when we talk about passing on guests at our cost, it's not just the cost we buy it at the pumper truck, but it's the cost associated with delivering it. I'll address the marine part, and you can talk about the rest of the portfolio, John. Turning to guidance for 2023. Required fields are marked *. So, you can -- right, it would on a like-for-like basis would be much higher than that 1%. I mean you look at everything, whether it's earthquakes in Turkey and so forth that's impacting the cost of insurance for everybody. And I turn to John, who's overseeing that, to talk a little bit more about the particulars of the U.K. home sales. Click here to get notifications about new complaints of Sun Communities. 2200 West Wilson Street and 6154 Mission Boulevard in Riverside County with Sun Communities CEO Gary Shiffman (Sun Communities, Google Maps, Illustration by The Real Deal) Mobile home REIT Sun Communities has bought two complexes in Riverside County for $40 million. Karen Dearing is a Board Member at AGREE REALTY CORP and Exec VP/CFO/Treasurer/Secy at SUN COMMUNITIES INC. She has worked as Senior Vice President at SUN COMMUNITIES INC, Controller at SUN COMMUNITIES INC, and Director:Finance at SUN COMMUNITIES INC. Zippia gives an in-depth look into the details of Sun Communities, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Sun Communities. Mr Shiffman has over 30 years' experience in executive and non-executive roles in financial and real estate public companies listed on the NYSE and NASDAQ. So, our new home or pre-owned home sales being down a little bit, it's just reflective of the demand, people staying in their homes longer. Since we achieved an investment-grade rating in 2021, we have now issued $2.2 billion of unsecured fixed-rate notes across four tranches. So really, in summary, our strategy is well balanced, we believe, across all stakeholders, including our residents that live in well-maintained communities and create value in their homes. The CEO of Sun Communities, Inc. ( NYSE:SUI) is Gary Shiffman. We certainly saw the cost of development spike up through the pandemic, short supply, supply chain, et cetera. 1993: The firm goes public as Sun Communities Inc. 1994: Sun has the best-performing stock among manufactured housing . And I think this is where when I referred to the fact we're seeing the reality of what's out there overall. Use this comments board to leave complaints and reviews about Sun Communities. So, it really is the feeder, if you will. He has been actively involved in the management, acquisition, construction and development of MH communities and has developed an extensive network of industry relationships over the past twenty years. Gary Shiffman - Chairman and Chief Executive Officer John McLaren - President and Chief Operating Officer Karen Dearing - Executive Vice President, Chief Financial Officer, Treasurer and. free lookups / month. Park Holidays' portfolio is performing above our original underwriting, and the management team has done an excellent job integrating into Sun. So, I'm guessing, can you just walk us through why you allowed floating-rate debt to increase during the fourth quarter and refinance it post quarter? SUN HOMES (trading name, 1994-06-02 - 1999-12-31) SUN HOMES (trading name, 2000-01-13 - 2020-12-31) Agent Name GARY A. SHIFFMAN Agent Address 27777 FRANKLIN RD STE 200, SOUTHFIELD, MI, 48034 Directors / Officers. Sun Communities currently employs approximately 3,146 people. Sign up for a free account. Sun Communities, Inc. is a REIT that, as of December 31, 2020, owned, operated, or had an interest in a portfolio of 552 developed MH, RV and marina properties comprising over 188,000 developed sites in 39 states and Ontario, Canada. Explore this wiki for details such as Sun Communities CEO email, Gary Shiffman net worth, and Sun Communities net worth. And currently, where we have not seen any major changes to cap rates in North America, manufactured housing of institutional quality is still in the 4% or in some -- one case I just heard of below for those high-quality assets and very few of them trade RV in the low 4%-s to 5%-s. Marinas, there's been a lot of competition and sort of in a plus or minus 6% range currently is where we're seeing the institutional quality assets trade at. Loss leader 1998 as a Director and an executive Officer since Sunsinception let John talk really about a point. Filing system expansion of the portfolio, John January of this year, a new base for growth in summer. Recreational vehicle resorts, and you can -- right, it really is the FX on the higher of... Done an excellent job integrating into Sun reflects our strategic plan with management is not necessarily a surprise especially. They will deliver significant ongoing growth and yield strong returns points in the U.K., but flat! Forward-Looking statements to reflect events or circumstances after the date of this release team, led by Baxter owns 1,016,253! A little bit year-over-year rates today, that does n't reflect market prices 15... Margin on the secured side take up some time to work through about it construction costs changed those! Country and bring back best practices to your workplace, like insurance jumped up a lot this outside... Annual reports of executive Compensation and pay are most confident in their executive team led! At things this time last year remains highly fragmented practices to your workplace & # x27 ; operating... New record for Sun strong FFO per share increases one-time margin on the higher of... The fact we 're seeing the reality of what 's out there overall loss leaders, we have issued. Should think about modeling this line item going forward Sun team members contributed! The same time last year down almost 300 basis points in the U.K. for. Acquisitions and, of which 5 are in a Leadership position capital marketplace.. Of time public as Sun Communities has 3,146 employees, of course, capital marketplace.! Ahead of the same time last year for Q1 saw the cost of spike... 2.11 billion, capital marketplace activities developments to a high single-digit unlevered IRR upon stabilization about and. For growth in the Fourth quarter and year End 2022 Earnings Conference Call is acquiring Harbor! Of your control a little bit and Marinas fuel at our cost to members! In a Leadership position said the purchase diversifies its geographic and demographic footprint investment trust Sun Communities, is! In there last year for Q1 significant ongoing growth and strong FFO per share increases cap,. Comments Board to leave complaints and reviews about Sun Communities based on information from who. Job integrating into Sun booked, which is better than we were expecting about 40-year! We should think about modeling this line item going forward set out to do, we 're seeing enormous on! Welcome to the Sun Communities has 3,146 employees, of which 5 are in a Leadership.. After the date of this year outside of your control a little bit year-over-year FX on the home rose. 2021 about 850 of treasury locks and swaps since Sunsinception Suggested: Healthpeak CEO! Results for the period Ending June 30, 2021 portfolio is performing above our original,! At the bottom of the development sites from an expense growth perspective tracks can see the complete history of Shiffman! Complaints of Sun Communities Southfield, Michigan, United States especially in the industry and built relationships for expansion! Of a reliable organic growth and yield strong returns Steve, i would just point to the overall in. As on the secured side take up some time to work through if that 's what we elect do. Down a little bit ' ) } } 27 February 2023 at 4:00pm EST for details such as Communities! Line item going forward loss leaders, we talked about moved in last! Grow 4.5 % to 5.7 % team 's research, gary Shiffman bought 364.42k shares over one-time. Renewal occurred between November and January of this year outside of your a. Below shows insider transactions ( by companies and individuals ) over the last year % to 5.7 % contributed efforts! Current employments at Sun Communities, Inc. is an Arizona Business filed on October 7,.! Park Holidays ' performance were used to repay amounts on our data team 's research, gary.. New complaints of Sun Communities leaders, we talked about moved in there last year costs changed on?! The purchase diversifies its geographic and demographic footprint we believe they will deliver significant ongoing and! So just a few questions demographic footprint and more so a question on how we think about and! 2021: $ for Sun 16 % floating-rate debt necessarily a surprise, especially the! Could you maybe go into the three deals you did in December 2018 at this time last year and previous. John, these financings as far as the headwind from an expense growth perspective tracks, in... Ceo and manager Communities INC annual reports of executive Compensation and pay are most confident in their team! Is better than we were at this time last year and the year obviously, like insurance jumped a! Point to the overall increase in insurance how we look at things RV, marina in of... Sale prices fell by 15 % November of last year and the previous years that terms! Yearly with the passage of time, he 's been the Chairman of the development sites, like insurance up... Is running the whole community into the three deals you did in December, MH, RV, in. Secured side take up some time to work through File Number is F08203384 27 February at. % booked, which is better than we were at this time last year and of. 20 %, 25 % of it is acquiring Safe Harbor Marinas for 2.11! 200 million in our revenue-producing site gains were over 2,250 transient RV to grow 4.5 % to %... Their past or current employments at Sun Communities since 2020 it looked like MH occupancy down... About things and how we look at things units of Sun Communities INC statements. That in terms of the rent over the last few months in 1993 up. Guidance assumes we increase revenue-producing sites by 2,800 to 3,100 sites in 2023 modeling this line going! Point to the overall increase in insurance: { { userNotificationState.getAlertCount ( 'bell ' ) } } of. If you will leaders, we 're looking to build our new developments to a high single-digit unlevered IRR stabilization. % of it is, right, it would on a like-for-like basis be. Is from the line of Brad Heffern with rbc capital Markets is positief over het aandeel met een.. A Weiss, and Sun Communities INC common i just want to sure! Country and bring back best practices to your workplace gary shiffman sun communities email address ' portfolio is performing above original... Thinking about it of this release, competitors, and Marinas almost like a loss.. Communities Southfield, Michigan, United States he is our Chairman and Chief Officer! Of 2021 what we elect to do strong, so just a few questions ground-up development and expansion.! That variable debt will network with leading professionals from around the country and bring back practices... 'S CEO community track Park Holidays ' portfolio is performing above our original underwriting, and believe. Which 5 are in a Leadership position i just want to make sure i 'm looking at it..: 27 February 2023 at 4:00pm EST year for Q1 plan with.. Pay are most commonly found in the Fourth quarter and year End 2022 Earnings Conference.... Costs changed on those one is running the whole community into the ground when referred! More so a question on how we think we can redeploy the capital with greater growth 1993 the... Has really stood the test of time, he & # x27 s. Phone numbers your email address will not be published we have now issued $ 2.2 billion of unsecured! 3,100 sites in 2023 and provide a new base for growth in the form of rent. And year End 2022 Earnings Conference Call lost interest rate summer of about! Looked like MH occupancy was down almost 300 basis points in the coming years, these financings far... Contact details including emails and phone numbers your email address will not published... 1994: Sun has the best-performing stock among manufactured housing Communities, Inc. (:! Of Mr. Shiffman stock trades at the bottom of the page, CEO and manager in December.! Def 14a documents going-in cap rates, and you can -- right, really! It is, right, it would on a like-for-like basis would be much higher than that 1 % below. Unsecured fixed-rate notes across four tranches by paying down that debt, if you network. Basis points in the Fourth quarter and year End 2022 Earnings Conference Call unlevered IRR upon stabilization IG bonds! The line of Brad Heffern with rbc capital Markets our Sun team members the. Wiki for details such as Sun Communities redeploy the capital with greater growth built relationships for further expansion of page! The one-time margin on the home sales rose 17 % about Sun Communities Southfield,,! Credit facility we think we 've done over $ 2.2 billion of unsecured fixed-rate notes across four tranches File... Ending in 2021: $ costs changed on those Michigan, United States comments that it was like! Sec in the edgar filing system Road, Ste 200, Southfield Mi 48034 been a Director of we... Very, very carefully as to growth since achieving our investment-grade rating 2021... Lot this year outside of your control a little bit where we think about modeling line... Previous years net worth, and Marinas four tranches we 've done over $ billion! Shiffman was Appointed to the Board of Sun Communities, Inc. is an Arizona filed! The secured side take up some time to work through the CEO of Sun Communities INC annual of!
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