Do you have a preference from proceeds, whether it's to pay down variable-rate debt or to recycle or to buy assets? Sun Communities, Inc is the nation's premier provider of manufactured home communities and RV resorts. Note that we expect first quarter results to reflect the seasonality of U.K. operations, as outlined in our supplemental, which we acquired in April 2022. Yes, the company is profitable. Please go ahead. And if you were to pay down debt, could you sell noncore assets and accretively repay down the variable-rate debt? This company now owns 22 properties in Sky Harbor. 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. Sun Communities has an average consumer rating of 1 stars from 176 reviews. Great. He is our Chairman and Chief Executive Officer and has been a director and an executive officer since our inception in 1993. Over the last 20 years, insiders at Sun Communities have traded over $67,900,866 worth of Sun Communities stock and bought 1,365,690 units worth $164,659,142 What are you seeing on the leading-edge demand for transient RV? He may not have intended to do so, but Sun Communities Chairman and CEO Gary Shiffman recently shed light on why this Biden tax plan matters to potentially millions of mobile and manufactured homeowners, regardless of their income. We feel it's definitely recoverable. 5 free lookups per month. To find out more about what we have to offer, visit a community near you or contact us. He is a member of our Executive Committee. With Shiffman's guidance, he began building. But certainly, looking to actively manage our exposure to floating-rate debt. That is very likely making improvements to that site and bringing up the value of the community itself or being hyper-focused on continuing the conversion program over to the annual side. And more so a question on how we should think about modeling this line item going forward. Demand for our manufactured housing communities and RV locations is evident in our consistently high occupancy levels, gains in revenue-producing sites and solid Same Property NOI growth. But it's a big advantage to paying the profits that other boat owners would have to pay elsewhere. 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. The Sun Communities management team includes Gary Shiffman (Chief Executive Officer), Lori Rumer (Division Vice President), and Eliseo Reategui (Food and Beverage Manager) . Subsequent to the Park Holidays transaction, we acquired 14 best-in-class holiday parks in the U.K. Hey, Josh, it's Gary. On a run rate trailing 12-month basis, our net debt-to-EBITDA ratio was 5.8 times. How are you guys thinking about that? Our next question is from the line of Josh Dennerlein with Bank of America. Our guidance assumes we increase revenue-producing sites by 2,800 to 3,100 sites in 2023. That's a result of adding sites to the portfolio through expansion. The U.K. market for holiday parks remains highly fragmented. As we've shared before, I think folks have heard me say it 100 times is that the most expensive site we have in our portfolio is a vacant one. Ms. Dearing has served as our Executive Vice President, Special Projects since May 2022 overseeing the integration of our UK Investments, as well as advising on other strategic initiatives. So that is -- that explains some of the increase on the debt side as well as purchasing the inventory that will ultimately start to produce income over the course of 2023. Gary A. Shiffman occupies the position of Chairman & Chief Executive Officer at Sun Communities, Inc., Chief Executive Officer & General Partner at Sun Communities Operating LP and Directorbr at Sun Home Services, Inc. (both are subsidiaries of Sun Communities, Inc.) and Chairman & Secretary at Bingham Financial Services Corp. 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. Gary Shiffman. Gary A. Shiffman -- Chairman and Chief Executive Officer Good morning and thank you for joining us as we discuss our first quarter 2021 results. Company profile for Sun Communities Inc. including key executives, insider trading, ownership, revenue and average growth rates. 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. And as we've talked about before, our business is really about reliable growth because of the strong demand and short supply. And I think it's reflected by the fact that we now have a waiting list in 80% of our marinas. Having turned over these units, we are now able to realize higher rents on incoming leases. It brings us industry-leading occupancy growth like the record 2,900 sites we gained over the course of 2022. 1981: Shiffman retires from his medical practice to concentrate fully on his growing company. But when we get specifically to Florida, getting coverage was more challenging and more difficult in Florida. Hi, Michael. Obviously, floating-rate debts caught a lot of people maybe not by surprise, but certainly been more powerful and had a bigger negative impact. Together, the two parks one in Jurupa Valley and another in Banning, accordingContinue reading {{ userNotificationState.getAlertCount('bell') }}. About Sun Communities, Inc. Sun Communities, Inc. is a REIT that, as of September 30, 2022, owned, operated, or had an interest in a portfolio of 662 developed MH, RV and Marina properties comprising over 180,500 developed sites and over 46,100 wet slips and dry storage spaces in 39 states, the United Kingdom, Canada, and Puerto Rico. Sun Communities, Inc. 27777 Franklin Road Suite 200 Southfield, MI 48034 United States 248-208-2500 https://www.suncommunities.com Sector(s) : Real Estate Industry : REITResidential Full Time . But in the effort of being totally transparent of where our costs have gone to, that's what is included in our guidance. 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. We're not going to reflect that different than our competitors and other asset classes. This is less of a Sun issue, an asset class issue or anything like that. Through his hard work and dedication, he has been leading the real estate market in America. Thank you. | 1 maart 2023 Within our MH and RV portfolio, we gained over 2,900 revenue-producing sites for the year. And I would remind the market, we have very manageable maturities, no looming towers over the course of the next couple of years. . Maybe first on same store revenue expectations for '23. With the passage of time, he has built a strong foothold in the industry and built relationships for further expansion of the company. Reason #2 to Attend: Network. Sun Communities CEO Gary Shiffman believes that clients and employees are the greatest assets of a company. 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. (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 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. Find contact information for Sun Communities. At the midpoint of the ranges, summarized in our press release, this total Same Property NOI growth assumes 4.6% growth from manufactured housing, 5.8% growth from RV and a 7% increase from marinas. I think everything is under review. Hey, guys. Discuss the issues you have had with Sun Communities and work with their customer service team to find a resolution. 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. [Operator Instructions] Our first question is from the line of Michael Goldsmith with UBS. His association with Sun Communities goes back to its inception. Elevate! Sun Communities announced Tuesday that it had acquired Dallas-based Safe Harbor Marinas for $2.11 billion. No credit card required. 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. Thank you. So, I understand the fourth quarter is typically a seasonally slow period in the U.K., but can you maybe talk to the weakness in the U.K. prices? Importantly, we expect our G&A as a percentage of revenue to decline this year. There is a fair amount of competition out there and some discounting that's taking place outside of the Park Holidays and the more inferior properties, but I think it's driving people to expect quality at Park Holidays. I don't have that broken out here in front of me. Gary A. Shiffman serves as Chairman of the Board of the Company. So, I would just point to the overall increase in insurance. And then, my second question is just on the flow-through of the NOI growth. Our Culture: And how is kind of the ROI profile of your development sites evolved the past 12 months? Okay. What Unions Do; Form a Union; What We Care About; Take Action; Gary Shiffman. As there are no further questions at this time, I would like to turn the floor back over to Gary Shiffman for closing comments. Sun Communities employees rate their Executive Team in the Top 50% of similar size companies on Comparably with 1,001-5,000 Employees. Read more Brian Hermelin Board Member C Clunet Lewis One is running the whole community into the ground. This year marks Sun's 30th year as a public company. Gary A. Shiffman; CEO, President & Chairman; Sun Communities, Inc. John Bandini McLaren; EVP; Sun Communities, Inc. Anthony Franklin Powell; Research Analyst; Barclays Bank PLC,. So, at $196,000 commanding average home prices that exceed virtually all competitors in our asset class, which I think illustrates the unmatched quality and the value our communities represent. I just have a question on the service retail and dining guide. We and our stakeholders have benefited from the compelling supply and demand dynamics that underpin manufactured housing, RV communities and marinas. SUN COMMUNITIES, INC. is an Arizona Business filed on October 7, 1997. Career & Education - Company, University, & College Gary attended Michigan State University. It's gotten more expensive. When was your -- when did your insurance renewal take place? Like MH and RV, marinas continued to generate reliable growth due to the industry's favorable supply and demand dynamics. You can reach Sun Communities by phone at +1 248-208-2500 or by email at info@suncommunities.com Where is Sun Communities located? So that is one area. And so, on the second -- my second question is how are the forward bookings trending for holiday sales -- holiday rentals in the U.K.? And on the lease termination, we did mention in my remarks, we did rationalize some space in our main office and got out of two floors in our offices here in Southfield. I guess just one for Fernando on the balance sheet. Gary A. Shiffman is the CEO of Sun Communities, Inc. Thanks. Hi, good afternoon. We will now open the call for questions. I don't believe we'll lose any opportunities because Sun always has a seat at the table and just about all of the sellers will reach out to Sun, either directly or through a relationship or brokerage. About Us: Known Addresses for Gary Shiffman. Please. ComplaintsBoard.com is a leading complaint resolution website on the Internet. Mr. Shiffman is an executive officer and a director of SHS and all of our other corporate subsidiaries. Sun Communities' CEO, Gary Shiffman, has 32 employee ratings and a score of 64/100, placing them in the Bottom 35% of similar size companies on Comparably with 1,001-5,000 Employees. So strategically, we do have to think about the cost return proposition in that state as we do everywhere. Manage Products and Account Information Support Americas +1 212 318 2000 EMEA +44 20 7330 7500 Asia Pacific +65 6212 1000 Company About Careers Diversity and Inclusion Tech At Bloomberg. And so, our expectation is a more normalized year-over-year transient growth. KAREN J. DEARING. Most recently he bought 362,903 units of SUI stock worth $70,711,650 on 16 August 2021. Currently, we've adjusted our returns to low double digit, in part because of the large rental increases as a reflection of CPI and inflation. Click here to get notifications about new complaints of Sun Communities. 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. Gary Shiffman is 65, he's been the Chairman of the Board of Sun Communities since 2020. Included in this expected expense growth is an approximately $18 million increase in property-related insurance costs. 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