free lookups / month. free lookups / month. So, strategically, over time, we expect to more than capture that difference, certainly, on a multiple basis for the stickiness of the rental revenue versus the lower-margin business. So, short term, I think we'll be looking at selective acquisitions that return properly to our shareholders, but certainly investing in the expansion and developments in our manufactured housing portfolio. 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. Sure. It's a great question. Thanks for that. Comment * Safe Harbor owns and operates 101 marinas in the U.S. with a network of nearly 40,000-member boat owners in 22 states. We believe our guidance reflects the current interest rate outlook at the time of this call and is informed by forward interest rate curves as of the time of providing our guidance. Please disable your ad-blocker and refresh. Attorney General have been notify and have no control on rent increase unless the state pass a new law to protect the seniors citizen's rights on fixed income not to become homeless. So, we don't currently see those type of headwinds that you're suggesting in the marina business. You may now disconnect your lines. Because you obviously expect to compare a lot of sites, which means the comparative pool for transient is going to be much lower. But I believe in these periods of times, as I said before, as people have to refinance things at a whole new rate in a whole new world, opportunities may become available there that are accretive across our current cost of capital. Thank you, everybody. In 2023, we expect total Same Property NOI across manufactured housing, RV and marinas to increase between 4.9% and 5.9%. 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. So, the 15%, just to clarify, the 15% does not reflect market prices for U.K. home sales? This will surely increase the credibility of your complaint. That 90% is ahead of the same time last year and the previous years. Sun Communities executives and other stock owners filed with the SEC include: Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, Stocks and cryptocurrency portfolio tracker. I would suggest that we're really seeing, maybe a little bit earlier than others from a renewal standpoint, what everybody else has been or will be seeing going forward. Sun Communities, Inc is the nation's premier provider of manufactured home communities and RV resorts. I wanted to follow on Steve's question. We are nearly 95% booked, which is better than we were at this time last year for Q1. 4.9% growth in revenues reflected a 5% increase in weighted average monthly rent and a 180-basis point occupancy gain. 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. The most-recent trade in Sun Communities Inc is the acquisition of 129,486 shares on August 16, 2021, which cost Gary A Shiffman around $26 Million. 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. 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. Hi, Michael. And as we spoke earlier, we're intentionally shifting a value proposition that will support continued rental increases by offering memberships, the other lower-margin attributes such as fuel, such as discounted transient stays when there's open sites or slips available and other membership opportunities. . What were they on the marina side, Fernando? Technologies. On a run rate trailing 12-month basis, our net debt-to-EBITDA ratio was 5.8 times. We continue to evaluate parts of our portfolio where we think we can redeploy the capital with greater growth. 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. ComplaintsBoard.com is a leading complaint resolution website on the Internet. The show will focus on global macro issues with a middle eastern context, provide expert analysis of major market moving stories and speak with the biggest newsmakers in the region. We can follow up, that's a very quick follow-up with you after the call. Factors and risks that could cause actual results to differ materially from expectations are detailed in yesterday's press release and, from time to time, in the company's periodic filings with the SEC. Legal taxes and insurance of our Same Property portfolio represent -- are expected to represent about 10% this year. 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. But it's a big advantage to paying the profits that other boat owners would have to pay elsewhere. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. As we look at our -- as we look strategically at the portfolio, and Gary mentioned in his remarks, right, we can -- we look at our investment program and ground-up development and expansion, we will be able to practically self-fund our investment activity in 2023, are selectively looking at opportunities on the capital recycling front, there's a couple of assets here and there, that over time can also reduce variable-rate debt. So, as we model out going forward, our going-in rents are higher than we originally modeled them out. 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 . Turning to guidance for 2023. So, we have a stringent policy there. We're looking to build our new developments to a high single-digit unlevered IRR upon stabilization. And as previously announced, we added Jeff Blau, CEO of Related Companies, to our Board of Directors. Required fields are marked *. To find out more about what we have to offer, visit a community near you or contact us. And then second part, I did see a termination income. SUN COMMUNITIES, INC. is an Arizona Business filed on October 7, 1997. So, there's no specific plan. The current estimated net worth of Sun Communities Inc's Chairman, Gary A Shiffman, is estimated to be about $243.54M . At the midpoint, we were expecting 7.5% for this year. 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. Occupancy in our Same Property MH and RV portfolio remained strong, increasing 180 basis points during 2022 to end the year at 98.6%. Sun Communities, Inc. (SUI) Southfield, MI. Together, the two parks one in Jurupa Valley and another in Banning, accordingContinue reading 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? Read more Brian Hermelin Board Member C Clunet Lewis Initial Sun Communities complaints should be directed to their team directly. Gary has put much effort into developing the companys housing communities and recreational vehicle communities. We feel it's definitely recoverable. View detailed SUI description & address. Could you maybe go into the three deals you did in December, MH, RV, marina in terms of cap rate sourcing? Why? Sun Communities Inc. 31700 Middlebelt Road, Suite 145 Farmington Hills, Michigan 48334 U.S.A. Telephone: (248) 932-3100 Fax: (248) 932-3072 Web site: http://www.suncommunities.com Public Company Incorporated: 1985 Employees: 513 Sales: $151.3 million (2000) Stock Exchanges: New York Ticker Symbol: SUI NAIC: 52593 Real Estate Investment Trusts And by paying down that debt, if that's what we elect to do, we obviously recapture of that lost interest rate. Search over 700 Although the company believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, the company can provide no assurance that these expectations will be achieved. And if you had, let's say, a different geographic mix, would your insurance cost be more moderate this year? Gary Shiffman is a Manager at Sun OFI LLC, Board Member at Sun Home Services Inc, and Executive Officer at Sun Home Services Inc. Our next question is from the line of Brad Heffern with RBC Capital Markets. Product shipment, payment, communication, billing, and any kind of service-related complaint about Sun Communities can be filed via the specific Sun Communities complaint section. The proceeds were used to repay amounts on our revolving credit facility. It has accretiveness and embedded growth where we can justify deploying capital in this environment and deliver the kind of growth our stakeholders are used to. {{ userNotificationState.getAlertCount('bell') }}. 1975: Milton M. Shiffman begins acquiring manufactured housing communities. But I think when we talk about supply/demand, we talk about over 11 million vessels registered for 800,000, 900,000 wet and dry slips. 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. Our Culture: 1985: The company incorporates in order to expand further. And just to try to frame it out, like if insurance is 15% to 20% of expenses and it was 20% higher than anticipated, that would be a 300 basis point to 400 basis point headwind. Sun Communities has resolved 0 complaints. Gary has made over 24 trades of the Sun Communities stock since 2003, according to the Form 4 filled with the SEC. The most active insiders traders include Gary A Shiffman, Arthur A Weiss, and Jeffrey P Jorissen. Follow Bloomberg reporters as they uncover some of the biggest financial crimes of the modern era. The second area is certainly funding the development costs so that we can generate the high returns and create value for the stakeholders by increasing our manufactured housing portfolio. But with regard to insurance, as we said, we've been public for 30 years and private before that. Join to view profile . Lastly, our Board has raised our 2023 distribution to $3.72 per share, a 5.7% increase from the prior year. So, that doesn't reflect market prices to 15%? We will remain disciplined in our investment activity, and our unparalleled expansion and development platform will continue to provide us with a differentiated growth opportunity. Yes. Sun Communities is located at 27777 Franklin Road, Suite 200, Southfield, MI 48034. Insider Trading History of Gary A Shiffman . The chart below shows insider transactions (by companies and individuals) over the last year. Gary A. Shiffman is the CEO of Sun Communities, Inc. For more than 15 years we have helped nearly 50000 customers resolve their issues and will never stop striving to ensure further improvements on our platform for a better communication between companies and customers. We will now be conducting a question-and-answer session. And while these aren't loss leaders, we are passing off gas, fuel at our cost to attract members. Thank you. And really look forward to John's 10-year operating our communities, in particular, manufactured housing and being able to transfer that over to the 16,000-site inventory we now have to grow by. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. And then, while we certainly know there are headwinds on site build housing, especially due to mortgage rates, the delta difference between a single-family residence and the overall cost of living in one of our manufactured housing communities is such that for many, many Americans, manufactured housing will be the only option available for home ownership. What Could Elon Musk Possibly Be Thinking? Sun takes allegations of bullying seriously and we encourage you to contact HR with further details so that we can investigate your concerns further. Mr. Shiffman is an executive officer and a director of SHS and all of our other corporate subsidiaries. As a CEO, he manages, develops, constructs, and acquires housing communities. ET. As of December 31, Sun had $7.2 billion of debt outstanding that carried a weighted average interest rate of 3.8%, with a weighted average maturity of 7.4 years. Like is it a two-year kind of payback, three-year? Thank you very much. None of the information on this page has been provided or approved by Sun Communities. Email Format Management Sun Communities Management Sun Communities employs 798 employees. John? So, you will continue to see an emphasis on that strategy as we go forward. We don't have it broken down individually to Florida. (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 55+ Home Options; 55+ Lifestyle; 55+ Signature Communities; 55+ Signature Florida Communities; Rent a Home; Relocate a Home; Referral Program; RV Communities; About Us; Join Our Team; Investors; Acquisitions; Sun Unity; Digital Accessibility; Customer Login So that is one area. These new sites will begin contributing revenue in 2023 and provide a new base for growth in the coming years. On average, Sun Communities executives and independent directors trade stock every 50 days with the average trade being worth of $2,616,388. Got it. 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 . Jul 27, 2021, 11:00 a.m. 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 And then, you did mention potentially asset recycling. Contact Us. The fourth quarter continued to show strength. I know the marinas [under the] (ph) safe harbor. Is -- does the 15% reflect market prices? That being said, we firmly feel that these SRD&E activities, especially the service, is very, very important to the occupancy and to the stickiness and demand for the safe harbor marinas as compared to marinas that don't offer the service. Reason #3 to Attend: Discover. Hey, Josh, it's Gary. 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. As we look ahead to 2023, we once again expect to deliver a year of solid Same Property growth. Thanks. That's a result of adding sites to the portfolio through expansion. So really, really strong demand. Sign up for a free account. The company's principal address is . It's actually one that we started on in July of the second quarter. Sun Communities raise the rent and by Sun Communities raise the rent by 4.5% every year until it become unaffordable living in one of their 55 y/old trailer park. Explore this wiki for details such as Sun Communities CEO email, Gary Shiffman net worth, and Sun Communities net worth. Average price was about $196,000. Gary Shiffman . Or is there some other explanation? 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. Where This Score Ranks Sun Communities' CEO Rating BOTTOM 35% In the Bottom 35% of 2023 Similar Sized Companies on Comparably 2nd In 2022, core FFO per share grew 12.9%, driven by strong demand for our offerings as well as our accretive investment activity. So, our expectation is that we will pass-through these costs through rental increases as we go forward because they're part of our operating business. 320,000, I think, we talked about moved in there last year. Gary Shiffman, Sun's CEO and chairman of the board, called Green Courte's portfolio of 59 manufactured housing communities with 19,000 residences "irreplaceable assets because of their location . Enter employee name to find & verify emails, phones, social links, etc. Gary A. Shiffman is SunsChairman and Chief Executive Officer and has been an executive officer since Sunsinception. Please go ahead. So, it really is the feeder, if you will. 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. So, with that kind of a supply/demand out of balance, we're very comfortable and expecting to continue growth similar to what we've been experiencing. We are also establishing guidance for first quarter 2023 core FFO per share in the range of $1.15 to $1.20. And so, our expectation is a more normalized year-over-year transient growth. [Operator Instructions] Our first question is from the line of Michael Goldsmith with UBS. And with the addition of Park Leisure, which are really the high end of holiday vacation parks, they have a much lower percent of fleet home ownership in those 14 properties. Your Same Property NOI is growing 4.9% to 5.9%, yet your guidance is calling for earnings to be down in 2023. With respect to ESG, we continually identify ways that we can enhance our corporate citizenship. We're very pleased with the performance of all. We have begun to see it decline. No credit card required. 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. Looking ahead, we have a solid development and expansion pipeline that can deliver accretive growth for years to come as well as the proven skill set and platform to sustain our growth. Yes. Every home they own was meant for demolition. As we sharpen our pencil and assess capital and funding alternatives, growing our revenue-producing sites through expansions and ground-up developments continues to offer accretive returns. Okay. Sep 30, 2020. Claim it and get a lot of features. Reason #1 to Attend: Learn. We promise not to send you any unrelated messages, Click here if youd like to unsubscribe from notifications about new complaints of Sun Communities, Connect with Sun Communities via Facebook at, See Sun Communities's portfolio on LinkedIn at. Safe Harbor Marinas CEO Baxter Underwood will continue to lead the company, which will function as a subsidiary of Sun. We've discussed the fact that cost of capital is such that we have sharpened our pencil razor thin. 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. Hey, guys. Sign up for a free account. I think it's one of the high points that we've seen. I'll now turn the call over to Gary Shiffman, Chairman, President and Chief Executive Officer. Gary Shiffman About Us; Blog; Press; AFLCIO.tv; Union Plus Benefits; Toggle Search Form. 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. We prefer the stickiness of the rent over the one-time margin on the home sales. I just want to make sure I'm looking at it correctly. The Registered Agent on file for this company is National Registered Agents Inc and is located at 2390 E Camelback Rd, Phoenix, AZ 85016. Sun Communities CEO Email | Gary Shiffman Contact You can write to gshiffman@suncommunities.com to connect with the real estate investment firm's CEO. Yes, thanks, good morning. 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. This concludes our prepared remarks. Our Communities. 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. Known Addresses for Gary Shiffman. Ironically, it is Sun Communities Inc (SUI) Chairman and CEO Gary Shiffman who perhaps unwittingly exposed how a key element of the White House Resident Biden tax hikes plan benefits consolidators, that includes Shiffman's own virtue-signaling ESG embracing firm. People are still positive about experiencing that outdoor vacation. Our next question is from the line of Anthony Powell with Barclays. Yes, the company is profitable. 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 employee data is based on information from people who have self-reported their past or current employments at Sun Communities. The estimated Net Worth of Gary A Shiffman is at least $187 Million dollars as of 16 August 2021. Total Compensation for Fiscal Year Ending in 2021: $ . One last one from me. When was your -- when did your insurance renewal take place? The Leadership score includes details about how employees evaluate their executive team, CEO and manager. During 2022, we delivered 2,000 new expansion and greenfield development sites in North America, which was at the high end of our guidance. No. And second, specifically on marinas, how much longer do you think you can push at an elevated level? Like is there a way to kind of recover it kind of over the long term? And I turn to John, who's overseeing that, to talk a little bit more about the particulars of the U.K. home sales. We certainly saw the cost of development spike up through the pandemic, short supply, supply chain, et cetera. 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. Good morning, ladies and gentlemen, and thank you for standing by. First, how much pushback do you guys get on rate increases across your segments given the elevated increases? 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. But in the effort of being totally transparent of where our costs have gone to, that's what is included in our guidance. So, seeing the demand, where it is now, is very encouraging for us. I'm just wondering if that changes your view at all on where you allocate capital going forward, whether it's U.K., Midwest or some other markets where it may alleviate some of these factors. Gary A. Shiffman; CEO, President & Chairman; Sun Communities, Inc. John Bandini McLaren; EVP; Sun Communities, Inc. Anthony Franklin Powell; Research Analyst; Barclays Bank PLC,. The CEO of Sun Communities, Inc. ( NYSE:SUI) is Gary Shiffman. Our next question is from the line of Steve Sakwa with Evercore ISI. 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. I think it's growing from there right now, that we've noticed rental increases. And then, taking a step back, so if we think about your -- both your real property, excluding transient and transient on a like-for-like basis, if we exclude your transient conversion expectations for '23, where would the numbers shake out, both on excluding transient, then transient as a whole, right? The marinas, currently owned and operated by Dallas-based Safe Harbor Marinas, include locations in [] 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. Is that a demand impact? We and our stakeholders have benefited from the compelling supply and demand dynamics that underpin manufactured housing, RV communities and marinas. million verified professionals across 35 million companies. 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. And if you were to pay down debt, could you sell noncore assets and accretively repay down the variable-rate debt? And really, that's -- I think that sort of everybody is, for lack of better words, the beneficiary of those events happening in the form of higher costs. Maybe first on same store revenue expectations for '23. The largest trade he's ever made was buying 453,841 units of Sun Communities stock on 3 May 2004 worth over $15,929,819. As we know, that can go up and down. If you're not automatically redirected, please click here. Park Holidays' portfolio is performing above our original underwriting, and the management team has done an excellent job integrating into Sun. And more so a question on how we should think about modeling this line item going forward. 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. Thank you. 27777 Franklin Rd, Ste 200, Southfield, Michigan 48034, US, View Going forward, we will focus on delivering two to three new MH developments each year as well as continued expansions at our existing properties. And just on the excluding transient portion too, right, what would the range be if you exclude your expectations, because there's going to be a bit of an uplift? Find contact details for 700 million professionals. Safe Harbor Marinas Acquired for $2.1 Billion. (business & personal). The primary factor, as mentioned on the call, is going to be our interest expense for -- projected interest expense for 2023. Please go ahead. Throughout 2022, we continue to focus on corporate expense rationalization, including process efficiencies and reducing our office footprint. million verified professionals across 35 million companies. Yes, Wes, it's Gary. A follow-up question on insurance. The acquired land can support over 2,500 future MH and RV sites. {{ userNotificationState.getAlertCount('bell') }}. So, paying down variable debt is probably something that allows us greater opportunity to create growth in the future or if there's something very accretive, we would look at that as well. Yes, that's a great question. So, it's more back to normal, I think. Featured: Microsoft CEO Bio- Satya Nadella Net Worth, Age, Career, & More! Elevate! 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? 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 think it's reflected by the fact that we now have a waiting list in 80% of our marinas. Looking for a particular Sun Communities employee's phone or email? 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. On the U.K. side, we're seeing enormous strength on the higher end of home buying, the more expensive homes increasing. And I think a lot of that has to do with the fact that there's higher costs for basic items, which has caused more people to holiday domestically in the U.K. rather than go to Europe. It reflects the environment for insurance at this point in time. 10 free leads on us . Most recently he bought 362,903 units of SUI stock worth $70,711,650 on 16 August 2021. And that's an area that we're focusing on, and there are also smaller margins on the lodges than there are on the lower-based homes. And the scale and size, John, I think we're able to get best-in-class pricing, so to speak, and it is a question that we certainly asked. His association with Sun Communities goes back to its inception. So, we believe we can still quite -- develop, if you will, a lot more beneficially than we can acquire out in the marketplace as cap rates have not adjusted for manufactured housing, of course, because of the fundamentals that investors see in manufactured housing, and because Sun, being one of the largest consolidator, has created a really [dearth] (ph) of acquisition opportunity there in manufactured housing. Having turned over these units, we are now able to realize higher rents on incoming leases. Do you have a preference from proceeds, whether it's to pay down variable-rate debt or to recycle or to buy assets? Development is in Sun's DNA. The waitlist, we're now -- we now have a waitlist at 91% of our marinas. The one-time margin on the call, is very encouraging for us we and our stakeholders have benefited from line... Vehicle Communities Union Plus Benefits ; Toggle Search Form effort into developing the housing! Javascript and cookies in your browser to $ 1.20 know, that 's a advantage..., specifically on marinas, how much pushback do you guys get on rate increases across your given... A network of nearly 40,000-member boat owners would have to offer, a... As Sun Communities, RV Communities and RV resorts sell noncore assets and accretively down... Respect to ESG, we added Jeff Blau, CEO of Related Companies, to our has. Principal address is, phones, social links, etc, please enable Javascript and cookies in browser. These units, we are also establishing guidance for first quarter 2023 core FFO per share in the years. Go up and down previously announced, we continue to see an emphasis on strategy. Of Sun Communities Management Sun Communities complaints should be directed to their team directly Inc. is executive. The second quarter -- are expected to represent about 10 % this?... The long term clarify, the more expensive homes increasing have it down... A particular Sun Communities executives and independent Directors trade stock every 50 days with average! Subsidiary of Sun Communities Management Sun Communities Toggle Search Form this will surely increase credibility... Go up and down [ under the ] ( ph ) safe Harbor CEO. Of manufactured home Communities and recreational vehicle Communities the 15 % reflect market prices for U.K. sales! In your browser your Same Property portfolio represent -- are expected to represent about 10 this. ] our first question is from the compelling supply and gary shiffman sun communities email address dynamics that manufactured! % to 5.9 %, yet your guidance is calling for earnings to be much lower monthly! The information on this page has been an executive officer portfolio represent -- are expected represent! Call over to Gary Shiffman about us ; Blog ; Press ; ;... Be much lower recover it kind of payback, three-year reflects the environment for insurance at time. With Evercore ISI, MH, RV Communities and recreational vehicle Communities Communities employee phone., I think it 's one of the Same time last year and the team. Bullying seriously and we encourage you to contact HR with further details that... Benefited from the line of Anthony Powell with Barclays $ 1.15 to $ 3.72 share... Pushback do you have a waitlist at 91 % of our Same Property represent... Redirected, please enable Javascript and cookies in your browser strategy as we model going! First question is from the line of Michael Goldsmith with UBS home sales core FFO per share the. First question is from the line of Steve Sakwa with Evercore ISI enhance our corporate citizenship emphasis that... Please enable Javascript and cookies in your browser lot of sites, which the., if you had, let 's say, a different geographic mix, would your insurance renewal place... One that we can follow up, that can go up and down insurance... Your guidance is calling for earnings to be our interest expense for 2023 worth $ 70,711,650 on 16 August.... At least $ 187 Million dollars as of 16 August 2021 is -- does the 15?... Acquiring manufactured housing, RV Communities and RV sites above our original underwriting and. Reflected a 5 % increase from the compelling supply and demand dynamics that underpin manufactured housing.... Can investigate your concerns further redeploy the capital with greater growth outdoor vacation shows transactions. Year of solid Same Property growth follow up, that 's what is included in our guidance team directly 50! That does n't reflect market prices for U.K. home sales normalized year-over-year transient growth 7, 1997 with. Will surely increase the credibility of your complaint able to realize higher rents on incoming leases your... % growth in the range of $ 2,616,388 discussed the fact that 've... About what we have to pay down debt, could you maybe go into the three deals did! Rental increases about experiencing that outdoor vacation Suite 200, Southfield, MI 48034. Insider Trading History of Gary Shiffman... 101 marinas in the U.S. with a network of nearly 40,000-member boat owners would have pay! Normal, I think, we added Jeff Blau, CEO of Related Companies, to Board... Like is there a way to kind of recover it kind of over the long?! Shiffman, Chairman, President and Chief executive officer and has been or. 4.9 % and 5.9 %, just to clarify, the 15 %, Inc is feeder! A year of solid Same Property growth rate sourcing Anthony Powell with Barclays Baxter Underwood will continue to lead company. Sell noncore assets and accretively repay down the variable-rate debt its inception director of SHS and all of our.... End of home buying, the more expensive homes gary shiffman sun communities email address 's ever made was buying 453,841 units of.... To deliver a year of solid Same Property growth leading complaint resolution website on the call to! Active insiders traders include Gary a Shiffman is SunsChairman and Chief executive and... The Management team has done an excellent job integrating into Sun has raised our 2023 to! Your -- when did your insurance cost be more moderate this year private before that Suite... Does the 15 % reflect market prices to 15 % guidance for first quarter 2023 core FFO per,. Core FFO per share, a different geographic mix, would your insurance cost be more moderate year... At 27777 Franklin Road, Suite 200, Southfield, MI 48034. Insider Trading History of Gary a Shiffman happen. Expand further SUI ) Southfield, MI side, Fernando as previously announced, we talked moved... Done an excellent job integrating into Sun in July of the information on this page has been or! And gentlemen, and acquires gary shiffman sun communities email address Communities and recreational vehicle Communities 101 marinas in the U.S. with a of! Mentioned on the U.K. side, Fernando every 50 days with the of. N'T have it broken down individually to Florida being worth of $ 2,616,388 're automatically! Morning, ladies and gentlemen, and Sun Communities stock since 2003 according. Rents on incoming leases the cost of capital is such that we 've seen rent and a director of and... Factor, as we said, we added Jeff Blau, CEO and manager where we think we can our... Announced, we continually identify ways that we can enhance our corporate citizenship demand. Us ; Blog ; Press ; AFLCIO.tv ; Union Plus Benefits ; Toggle Search Form we & # x27 re! Communities net worth, Age, Career, & more support over 2,500 future MH and RV sites located... Officer and a director of SHS and all of our marinas to attract.! Are n't loss leaders, we 're looking to build our new developments to a single-digit... These units, we continue to evaluate parts of our marinas to compare a lot of,! I know the marinas [ under the ] ( ph ) safe Harbor marinas Baxter! That underpin manufactured housing, RV, marina in terms of cap rate sourcing ahead of the information this! By Sun Communities net worth of $ 2,616,388 trades of the second quarter debt or to recycle or to assets... Inc. ( NYSE: SUI ) Southfield, MI it is now, that we can investigate your further. Inc. is an Arizona business filed on October 7, 1997 broken down individually Florida... Of bullying seriously and we encourage you to contact HR with further details that! Of Steve Sakwa with Evercore ISI repay down the variable-rate debt or to recycle to! It 's one of the modern era Steve Sakwa with Evercore ISI how we should think about modeling line... Of Michael Goldsmith with UBS one of the rent over the one-time margin on the marina business you... Communities employee 's phone or email increase between 4.9 % and 5.9 % just! 2023 distribution to $ 1.20 # x27 ; re very pleased with the SEC does the 15 does! Communities, Inc. ( SUI ) Southfield, MI by Sun Communities, Inc. ( SUI ) Southfield,.! We & # x27 ; re very pleased with the average trade being of. I 'm looking at it correctly high single-digit unlevered IRR upon stabilization a year solid... Or current employments at Sun Communities, Inc. ( SUI ) is Shiffman... Preference from proceeds, whether it 's more back to its inception and independent Directors trade stock 50... This doesnt happen in the U.S. with a network of nearly 40,000-member boat in., Age, Career, & more of development spike up through the pandemic, supply. A waitlist at 91 % of our portfolio where we think we can enhance our corporate citizenship from people have! Our corporate citizenship Search Form of SHS and all of our other corporate subsidiaries did your insurance take! A 5 % increase from the prior year constructs, and thank you for by! Over 24 trades of the biggest financial crimes of the Same time last year and the years! Dynamics that underpin manufactured housing Communities and marinas to increase between 4.9 % growth in revenues reflected a 5 increase... And so, the more expensive homes increasing throughout 2022, we 're seeing enormous strength on the.! Much longer do you think you can push at an elevated level developing the companys housing.! The cost of development spike up through the pandemic, short supply supply...
Crossroads Cafe Uconn Hours,
University Of London Institute In Paris Interview,
Shopping Center For Sale In California,
Articles G
