I mean you look at everything, whether it's earthquakes in Turkey and so forth that's impacting the cost of insurance for everybody. 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. Use this comments board to leave complaints and reviews about Sun Communities. Thank you very much. This year marks Sun's 30th year as a public company. Obviously, floating-rate debts caught a lot of people maybe not by surprise, but certainly been more powerful and had a bigger negative impact. We're not going to reflect that different than our competitors and other asset classes. Hi, Michael. Safe Harbor Marinas Acquired for $2.1 Billion. So, from the end of September to the end of December, the pound did appreciate significantly. Please. The resilience of our platform can be seen in our full year total manufactured housing, RV and marina Same Property NOI results, which grew by 5.8% over 2021. Hey, guys. So, our expectation is that we can't pass-through the expenses. Biography of Gary Shiffman. Sun Communities, Inc. is an owner, operator and developer of manufactured housing communities. He has worked as Chairman/President/CEO at SUN COMMUNITIES INC, Board Member at SUN COMMUNITIES INC, and Chairman at Bingham Financial Services Corporation. Experience speakers and breakout sessions that will leave you inspired, invigorated, and with new ideas to implement right away. Our strategic approach has delivered an attractive balance of a reliable organic growth and strong FFO per share increases. Please go ahead. Sun Communities employees rate their Executive Team in the Top 50% of similar size companies on Comparably with 1,001-5,000 Employees. Hi, good morning. 1985: The company incorporates in order to expand further. The company undertakes no obligation to advise or update any forward-looking statements to reflect events or circumstances after the date of this release. We received an approximate 50% uplift in revenue in the first full year after conversion. Stock Symbol. And second, specifically on marinas, how much longer do you think you can push at an elevated level? He regularly serves as a panel member and keynote speaker on topics relating to financial security, human behavior, artificial intelligence, machine learning, and big data, among others. We are also providing certain guidance data points to help the investment community track Park Holidays' performance. Total Compensation for Fiscal Year Ending in 2021: $ . Steve, I can share with you, as of this point, and I'll let John go more into specific sales. So, like Gary said, the demand continues to be very strong, so much so that we -- I think we shared before that we've built out almost 700 expansion sites over the course finishing in 2022, that all sold up in 2022, and look to expand another 500 going into the season this year, which will be filled up by the end of 2023. We've been quite programmatic from that perspective to support our issuance in the unsecured bond market. So, as we model out going forward, our going-in rents are higher than we originally modeled them out. million verified professionals across 35 million companies. 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. 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. Or has something kind of shifted in the model a bit? The following quote is from Shiffman's recent Sun Q1 2021 earning's call. And certainly, in the U.K. as the second vacation home, an alternative to more expensive vacationing in the U.K. Got it. Reagan Haynes. And I think it's reflected by the fact that we now have a waiting list in 80% of our marinas. Got it. Your email address will not be published. Just one quick one from me on acquisitions. 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. The U.K. market for holiday parks remains highly fragmented. Thank you. At year-end, our combined MH and RV occupancy was nearly 97%, reflecting approximately 96% occupancy within our manufactured housing portfolio. 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 . And I think this is where when I referred to the fact we're seeing the reality of what's out there overall. I know it's obviously the low demand time of year, but any color on what happened year-to-date in the forward bookings would be great. With Shiffman's guidance, he began building. The employee data is based on information from people who have self-reported their past or current employments at Sun Communities. Get contact details including emails and phone numbers What Could Elon Musk Possibly Be Thinking? Gary A. Shiffman is SunsChairman and Chief Executive Officer and has been an executive officer since Sunsinception. Going forward, we will focus on delivering two to three new MH developments each year as well as continued expansions at our existing properties. So that is one area. Gary A. Shiffman. No. Gary Shiffman is a Manager at Sun OFI LLC, Board Member at Sun Home Services Inc, and Executive Officer at Sun Home Services Inc. Comment * Yes. Lorem ipsum dolor sit, amet consectetur adipisicing elit. So, your math as far as the headwind from an expense growth perspective tracks. Sun Communities CEO Gary Shiffman believes that clients and employees are the greatest assets of a company. We are actively and programmatically working on a number of strategies to continue to reduce our exposure to variable-rate debt. How much is your increase in insurance due to your exposure to Florida? 1981: Shiffman retires from his medical practice to concentrate fully on his growing company. We will now open the call for questions. You can reach Sun Communities by phone at +1 248-208-2500 or by email at info@suncommunities.com Where is Sun Communities located? Hi, everyone. How much is the insurance as a percentage of operating percentage? Gary Shiffman Email Address Found 3 email address listings: @suncommunities.com @vivabeverages.com @basseyselesko.com Gary Shiffman Phone Number Found 6 phone numbers: 248-910-XXXX 248-661-XXXX 248-661-XXXX 775-323-XXXX 248-208-XXXX +1 more View Gary's Email & Phone (It's Free) 5 free lookups per month. Executive Summary. As everyone might recall, strategically, we are always looking to convert lower-margin business over to the stickier side of rent. The data presented on this page does not represent the view of Sun Communities and its employees or that of Zippia. 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. In 2023, we expect total Same Property NOI across manufactured housing, RV and marinas to increase between 4.9% and 5.9%. We look forward to our next call and certainly invite anyone to reach out to Fernando and his team with any follow-up questions. Together, the two parks one in Jurupa Valley and another in Banning, accordingContinue reading Learn about their Real Estate market share, competitors, and Sun Communities's email format. Thank you. Sun Communities is a publicly traded real estate investment trust that invests in manufactured housing communities, recreational vehicle resorts, and marinas. So, ex that drag, is the expense growth 6% to 7% and matching kind of like the top-line growth? Please go ahead. But certainly, looking to actively manage our exposure to floating-rate debt. On a run rate trailing 12-month basis, our net debt-to-EBITDA ratio was 5.8 times. This does conclude the company's remarks. The CEO of Sun Communities is Gary Shiffman. We and our stakeholders have benefited from the compelling supply and demand dynamics that underpin manufactured housing, RV communities and marinas. {{ userNotificationState.getAlertCount('bell') }}. Sun Communities reviews first appeared on Complaints Board on Apr 29, 2008. Thanks a lot for taking my question. For the year, Sun reported core FFO per diluted share of $7.35, a 12.9% increase from 2021. The chart below shows insider transactions (by companies and individuals) over the last year. Up to 5 ComplaintsBoard.com is an independent complaint resolution platform that has been successfully voicing consumer concerns since 2004. Safe Harbor owns and operates 101 marinas in the U.S. with a network of nearly 40,000-member boat owners in 22 states. Thank you. Caucasian employees are most confident in their Executive Team. In marinas, our 2022 Same Property results continue to demonstrate supply-demand tailwinds, with a 12:1 ratio of registered boats in the U.S. to the existing supply of leasable wet slips and dry storage spaces. 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. Do you have a preference from proceeds, whether it's to pay down variable-rate debt or to recycle or to buy assets? During the year, we achieved a record of over 2,900 revenue-producing site gains, driven by more than 2,250 conversions of transient RV sites to annual leases, which topped last year's record conversions of nearly 1,700 sites and represented a 36% year-over-year increase. Our next question is from the line of Josh Dennerlein with Bank of America. Het koersdoel wordt verlaagd van 166 naar 161 USD. We've discussed the fact that cost of capital is such that we have sharpened our pencil razor thin. Find contact information for Sun Communities. 4.0 . These investments have accretive going-in cap rates, and we believe they will deliver significant ongoing growth and yield strong returns. Thank you. Good morning. 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. Sun Communities deals in the Real estate investment trust industry According to the latest report, Sun Communities has generated US$1.264 billion (2019) and net income being US$0.160 billion (2019). And we will closely evaluate and continue to evaluate our exposure that is impacted by insurance as we go forward. 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. (business & personal). I feel like throughout the fall, the messaging on the rate growth you were sending out was going to line up with expense growth. (Suggested: Healthpeak Properties CEO Email & Net Worth Tom Herzog). Sun Communities, Inc. (SUI) Southfield, MI. The final note, increasing interest rates were a headwind on FFO growth in the back half of 2022 and continue to be a headwind in our 2023 guidance. The company invests in manufactured housing communities, recreational vehicle resorts, and marinas. 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 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. Thank you. 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. We relocated as many people as possible to other properties, including our team members in the area. 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. 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 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. 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. Thanks. GARY A. 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