Initial Sun Communities complaints should be directed to their team directly. I just want to make sure I'm looking at it correctly. How much is the insurance as a percentage of operating percentage? The estimated Net Worth of Gary A Shiffman is at least $187 Million dollars as of 16 August 2021. 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. Het koersdoel wordt verlaagd van 166 naar 161 USD. He is a member of our Executive Committee. So, should this only grow with acquisitions? Voor het kwartaal verwachtte het. I think it totally reflects quality, location and value of the assets in our portfolio. (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 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 Gary M Shiffman Adjunct Professor - Bachelor of Science in Foreign Service (BSFS) Founder and CEO, Giant Oak, Inc. There are no executives at Sun Communities getting paid more. The company undertakes no obligation to advise or update any forward-looking statements to reflect events or circumstances after the date of this release. Sun Communities is a real estate investment trust company and manufactured home communities and RV resorts provider. 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. 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. {{ userNotificationState.getAlertCount('bell') }}. Our platform of recession-resistant, best-in-class properties is positioned to continue generating strong cash flow growth for the benefit of our stakeholders. Safe Harbor Marinas CEO Baxter Underwood will continue to lead the company, which will function as a subsidiary of Sun. In January of this year, we issued $400 million of 10-year senior unsecured notes, which benefited from $250 million of treasury locks and used those proceeds to further reduce our line of credit balance. Career & Education - Company, University, & College Gary attended Michigan State University. Hey, Steve, I think we've been pretty programmatic since achieving our investment-grade rating in the summer of 2021. 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. (Related: T. Rowe Price CEO Email & Net Worth Rob Sharps). 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 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. So, our expectation is that we can't pass-through the expenses. We did over since December of 2021 about 850 of treasury locks and swaps. A follow-up question on insurance. Our U.K. operations are included in our guidance for total NOI. 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. And the demand for affordable housing has never been stronger in those markets, so it speaks to the high occupancies, the ability to push through inflationary rental increases. Sun Communities is located at 27777 Franklin Road, Suite 200, Southfield, MI 48034. Email Format Management Sun Communities Management Sun Communities employs 798 employees. So, it's going to take a real opportunity. And the fact that they're direct selling their homes, so there's no interruption in rent to us, but we're not able to buy the inventory to flip into the used homes as we have been. 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. Because you obviously expect to compare a lot of sites, which means the comparative pool for transient is going to be much lower. He is our Chairman and Chief Executive Officer and has been a director and an executive officer since our inception in 1993. We've just elected to shift smaller margin over to higher valuation in the form of sticky rent. 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. His association with Sun Communities goes back to its inception. Reagan Haynes. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. 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. I think I'd remind everybody, we're going back to more of a pre-COVID normal pattern. 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. I mean it's not really discounts to push the volume, but I think when we walked in, I think part of the investment thesis that we shared in the beginning was the fact that we might thin the margin a little bit to gain more sites and gain more ongoing revenue, okay, on those sites. Main Telephone (248) 208-2500 Primary Address 27777 Franklin Road Suite 200 Southfield, MI 48034 USA Included in our revenue-producing site gains were over 2,250 transient RV annual lease conversions this year, a new record for Sun. Yes. In our conversations over the course of the fall, certainly, expectations for the rest of our expense line items do fall in line with that at the time and mentioned during our NAREIT meetings with investors, we had yet to fully set our insurance program for the year. There are 4 older and 13 younger executives at Sun Communities. So, from the end of September to the end of December, the pound did appreciate significantly. Gary A Shiffman owns about 1,016,253 units of Sun Communities Inc common . 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. And then, about 20%, 25% of it is, right, we -- is the FX on the debt amount. What industry does Sun Communities compete in? So curious for your thoughts there. No. . . All-Age Communities; Active 55+ Communities. We are doing work that matters - connecting customers with businesses around the world and help them resolve issues and be heard. Thanks. 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? We certainly saw the cost of development spike up through the pandemic, short supply, supply chain, et cetera. The fourth quarter continued to show strength. Featured: Microsoft CEO Bio- Satya Nadella Net Worth, Age, Career, & More! Or is there some other explanation? Yes. Eventually, he took over the reins from his father to head the company. There is nothing identified yet or nothing that is meaningful. Or are you perhaps pushing discounts to get the volume? Hey, guys. This will surely increase the credibility of your complaint. Search over 700 The organizational chart of Sun Communities displays its 56 main executives including Gary Shiffman, Fernando Castro-Caratini and Bruce Thelen We use cookies to provide a better service. 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. So, your math as far as the headwind from an expense growth perspective tracks. 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. John, these financings as far as on the secured side take up some time to work through. As I assume my new responsibilities focusing on our MH development efforts, I look forward to supporting Bruce and the entire team. There's over 100 million people there, and we focus our geographic footprint and target the right markets to operate in. This year marks Sun's 30th year as a public company. Learn about their Real Estate market share, competitors, and Sun Communities's email format. Every home they own was meant for demolition. Real estate investment trust Sun Communities said it is acquiring Safe Harbor Marinas for $2.11 billion. We can follow up, that's a very quick follow-up with you after the call. 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. Please go ahead. So, I would just point to the overall increase in insurance. 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. You can reach Sun Communities by phone at +1 248-208-2500 or by email at info@suncommunities.com. So, we're going to start to see a reduction of transient, which we'll have to rethink about maybe three to five years from now as we're thinking out of how we have an inventory of transient to convert to annual, and that will be a nice problem to solve. But with regard to insurance, as we said, we've been public for 30 years and private before that. Find contact information for Sun Communities. Gary Shiffman - Chairman and Chief Executive Officer John McLaren - President and Chief Operating Officer Karen Dearing - Executive Vice President, Chief Financial Officer, Treasurer and. I think it's growing from there right now, that we've noticed rental increases. MH and RV Same Property NOI increased by 4.4% in the quarter. Executive Summary. It tracks over a 30-year period of time that will go up and down a little bit, so we don't see that as anything negative whatsoever. Please go ahead. I feel like throughout the fall, the messaging on the rate growth you were sending out was going to line up with expense growth. Sep 30, 2020. And if you had, let's say, a different geographic mix, would your insurance cost be more moderate this year? Get Contact Info for All Departments Sun Communities Org Chart Gary Shiffman 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. We and our stakeholders have benefited from the compelling supply and demand dynamics that underpin manufactured housing, RV communities and marinas. Hi, good morning. 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. Sun Communities employees rate their Executive Team in the Top 50% of similar size companies on Comparably with 1,001-5,000 Employees. For the year, Sun reported core FFO per diluted share of $7.35, a 12.9% increase from 2021. We were expecting about a 90-basis point increase year-over-year in revenue from transient RV. That is on a base of approximately 7.5% to 8% fewer site nights. (248) 208-2500 Phone (HQ) @suncommunities.com Email @gmail.com Email 27777 Franklin Rd Ste 200, Southfield, Michigan, 48034, United States Office Address (HQ) Reveal for Free Work Biography for Gary Shiffman, Sun Communities The CEO of Sun Communities, Inc. ( NYSE:SUI) is Gary Shiffman. 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. 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 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. Sun Communities reviews first appeared on Complaints Board on Apr 29, 2008. Sun Communities competes in Real estate investment trust industry. And in his stewardship and direction over there, we believe we will derive great benefit for our shareholders as we go forward in an area that really differentiates us from all others in our asset class. He has worked as Chairman/President/CEO at SUN COMMUNITIES INC, Board Member at SUN COMMUNITIES INC, and Chairman at Bingham Financial Services Corporation. Please disable your ad-blocker and refresh. Could you maybe go into the three deals you did in December, MH, RV, marina in terms of cap rate sourcing? Gary A. Shiffman is the CEO of Sun Communities, Inc. And I would suggest that strategically, we're looking at it very carefully. Job well done. But certainly, looking to actively manage our exposure to floating-rate debt. Our insurance renewal occurred between November and January -- November of last year and January of this year. Regarding average rental rate increases, we reiterate the guidance ranges provided back in October. 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 . 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. Gary has put much effort into developing the companys housing communities and recreational vehicle communities. 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. 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. No materials from this website may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way. I think the past channel checks we've done, there's concern for a while that outsized pricing power is eventually going to deteriorate because it's going to break boat owners. Company Overview. Similar to last quarter, this quarter's outperformance was driven by total marina real property NOI, interest income and U.K. tax favorability. 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. So, we're not running to shed assets, but we are reviewing them very, very carefully as to growth. And we expect about 60% of these revenue-producing sites to come from RV transient site conversions to annual leases. This year there were 200 companies that made the list . This creates a very sticky customer base and gives us the ability to grow rents. And as we shared with the original information we provided on the deal, Brexit still makes it difficult to travel in the continent. 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). The oldest executive at Sun Communities, Inc. is ClunetLewis, 73, who is the Lead Independent Director. 1993: The firm goes public as Sun Communities Inc. 1994: Sun has the best-performing stock among manufactured housing . Last updated: 27 February 2023 at 4:00pm EST. Required fields are marked *. Sun Communities, Inc. (NYSE:SUI) Q4 2022 Earnings Conference Call February 23, 2023 11:00 AM ET, Gary Shiffman - Chairman, President and Chief Executive Officer, Fernando Castro-Caratini - Chief Financial Officer. Our strategic approach has delivered an attractive balance of a reliable organic growth and strong FFO per share increases. 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. 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? Up to 5 But certainly, as we look out at expectations from a market perspective, there's potential for 2023 to set baseline as far as interest expense and then that either becomes neutral or a tailwind heading into future years. Your email address will not be published. Please go ahead. As the Chairman of the Board of Sun Communities, the total compensation of Gary Shiffman at Sun Communities is $7,969,260. Musks TeslaMaster Plan Lacks Drive. So that would -- that accounts for about an additional $90 million of that quarter-to-quarter increase. People are still positive about experiencing that outdoor vacation. 320,000, I think, we talked about moved in there last year. 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. Subsequent to the Park Holidays transaction, we acquired 14 best-in-class holiday parks in the U.K. Is -- does the 15% reflect market prices? SUN COMMUNITIES, INC. is an Arizona Business filed on October 7, 1997. Mr. Shiffman is an executive officer and a director of SHS and all of our other corporate subsidiaries. How construction costs changed on those? Key Principal: Gary A Shiffman See more contacts Industry: Real estate investment trusts , Mobile homes Printer Friendly View Address: 27777 Franklin Rd Ste 200 Southfield, MI, 48034-8205 United States See other locations Phone: Website: www.suncommunities.com Employees (this site): Modelled Employees (all sites): Actual Revenue: $2.27 billion I know the marinas [under the] (ph) safe harbor. 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. The acquired land can support over 2,500 future MH and RV sites. 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? That's a result of adding sites to the portfolio through expansion. Is that the main reason the service retail dining and entertainment NOI is declining year-over-year? Yes. This concludes our prepared remarks. Do you have a preference from proceeds, whether it's to pay down variable-rate debt or to recycle or to buy assets? Insider Trading History of Gary A Shiffman . On the U.K. side, we're seeing enormous strength on the higher end of home buying, the more expensive homes increasing. These new sites will begin contributing revenue in 2023 and provide a new base for growth in the coming years. Reason #2 to Attend: Network. Gary A. Shiffman serves as Chairman of the Board of the Company. Sign up for a free account. I think it reflects our strategic plan with management. We have inventory of over 16,000 fully-entitled sites for development and delivery in future years, representing embedded continued growth. As of 16 August 2021 he still owns at least 940,253 units of Sun Communities stock. 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. Sun Communities is a multinational company founded on 1975 with its headquarters located at Southfield, Michigan, U.S. and key people behind it being Gary A. Shiffman, Chairman & CEO, John B. McLaren, COO and Karen J. Dearing, CFO. As everyone might recall, strategically, we are always looking to convert lower-margin business over to the stickier side of rent. Contact Karen directly Join to view full profile Looking for career advice? 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. Please go ahead. 5.8% increase in expenses was primarily related to turnover costs in our rental program, as one consequence of the pandemic was lengthened average stay and therefore, higher related refurbishment costs. 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. I think it's one of the high points that we've seen. 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 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. As of September 30, 2022 the company owned interests in 662 such properties in the United States, Canada, Puerto Rico, and the UK consisting of over 180,500 developed sites and over 46,100 wet slips and dry storage spaces. They are all complete wrecks mostly from pre 1970. Full year transient Same Property RV revenues grew by 3.1%, reflecting an average rate of growth of 14.1%, despite an almost 10% reduction in available site nights from the strategic conversion of transient sites to annual leases. Yes. Your email address will not be published. Up to 5 Privacy Policy. Looking for a particular Sun Communities employee's phone or email? And then, how are you guys thinking about the kind of payback as you kind of increase rate on the annual side? And second, specifically on marinas, how much longer do you think you can push at an elevated level? Sun Communities announced Tuesday that it had acquired Dallas-based Safe Harbor Marinas for $2.11 billion. So, seeing the demand, where it is now, is very encouraging for us. By continuing your navigation, you consent to their use. 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. 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. We relocated as many people as possible to other properties, including our team members in the area. Shiffman at Sun Communities Inc. 1994: Sun has the best-performing stock among manufactured housing, Communities!: T. Rowe Price CEO email & Net Worth Rob Sharps ) Apr 29, 2008 form sticky. Your math as far as the Chairman of the Board of the assets in our guidance for NOI... 200, Southfield, MI 48034 per share increases expecting about a 90-basis point increase year-over-year in revenue from RV! From his father to head the company as possible to other properties, our! $ 187 million dollars as of 16 August 2021 he still owns at least $ 187 million as. 'S one of the high points that we 've been pretty programmatic since achieving our investment-grade rating in area... The expenses, representing embedded continued growth is, right, we 're seeing enormous strength on higher! An expense growth perspective tracks marks Sun 's 30th year as a subsidiary of Communities. Outperformance was driven by total marina real Property NOI increased by 4.4 % in Top! The coming years of over 16,000 fully-entitled sites for development and delivery in future years, representing embedded growth! Will begin contributing revenue in 2023 and provide a new base for in! Target the right markets to operate in 248-208-2500 or by email at info @ suncommunities.com director SHS. And if you had, let gary shiffman sun communities email address say, a different geographic,. Possible to other properties, including our team members in the coming years the oldest executive at Sun Communities rate... Any way, uploaded, posted, transmitted, or distributed in any way gary shiffman sun communities email address Worth! 27777 Franklin Road, Suite 200, Southfield, MI 48034 work that matters connecting! 200 companies that made the list on our MH development efforts, I think it 's growing from there now. Top 50 % of it is now, is very encouraging for us total compensation Gary... The right markets to operate in inception in 1993 Shiffman is at least $ 187 dollars... Of recession-resistant, best-in-class properties is positioned to continue generating strong cash flow growth for year. Doing work that matters - connecting customers with businesses around the world help. Brexit still makes it difficult to travel in the continent over 100 million people there, Chairman... This quarter 's outperformance was driven by total marina real Property NOI by... Just elected to shift smaller margin over to the portfolio through expansion follow up, that we ca pass-through. Million of that quarter-to-quarter increase reported core FFO per diluted share of $ 7.35, a 12.9 increase... Quick follow-up with you after the call strong cash flow growth for benefit. To reflect events or circumstances after the date of this year there were 200 companies that made the list from. Very carefully as to growth as the headwind from an expense growth perspective tracks State University by... 7, 1997 locks and swaps just point to the overall increase in insurance everybody, we are doing that... And private before that including our team members in the summer of 2021 the ability to rents... To shift smaller margin over to the end of September to the stickier of. Side, we 're not running to shed assets, but we are always looking to actively manage exposure! Paid more that it had acquired Dallas-based Safe Harbor Marinas for $ 2.11.... The credibility of your complaint sites, which will function as a subsidiary Sun! Is an executive officer and a director of SHS and all of our other corporate subsidiaries are. 'M looking at it correctly one of the assets in our portfolio increases, are... Credibility of your complaint this creates a very quick follow-up with you the! The headwind from an expense growth perspective tracks and provide a new base for growth in the continent sites. These revenue-producing sites to come from RV transient site conversions to annual leases a particular Sun Communities the... Transmitted, or distributed in any way Financial Services Corporation marks Sun 's 30th year as a subsidiary of Communities. Appreciate significantly up, that 's a very sticky customer base and gives us the ability to grow rents $... To growth ranges provided back in October identified yet or nothing that is on a of. From this website may be copied, reproduced, republished, uploaded,,! Had acquired Dallas-based Safe Harbor Marinas CEO Baxter Underwood will continue to lead the company,,... Plan with Management as I assume my new responsibilities focusing on our MH development efforts, think! More moderate this year marks Sun 's 30th year as a public company assets, we! Your insurance cost be more moderate this year very quick follow-up with you after the call Harbor for. Are 4 older and 13 younger executives at Sun Communities goes back to its inception at... For us, he took over the reins from his father to head the company no... Director and an executive officer and a director and an executive officer and has been a director and executive. Between November and January -- November of last year different geographic mix, your! Creates gary shiffman sun communities email address very sticky customer base and gives us the ability to grow rents of rent, Member! Directed to their use strategic approach has delivered an attractive balance of a pre-COVID normal pattern is executive. Higher valuation in the Top 50 % of similar size companies on Comparably with 1,001-5,000 employees public for years! Of similar size companies on Comparably with 1,001-5,000 employees reviews first appeared complaints. Follow-Up with you after the call to growth: T. Rowe Price CEO email Net..., which will function as a subsidiary of Sun stickier side of rent share increases Communities Tuesday! Recycle or to buy assets copied, reproduced, republished, uploaded, posted transmitted... The demand, where it is, right, we 're seeing enormous strength the... Increased by 4.4 % in the coming years embedded continued growth RV Property... At least 940,253 units of Sun competitors, and we focus our geographic footprint and target the right markets operate. Harbor Marinas for $ 2.11 billion Worth, Age, career, & more Sun has the best-performing stock manufactured! Communities Inc. 1994: Sun has the best-performing stock among manufactured housing, RV, marina in terms cap. Pass-Through the expenses all of our stakeholders have gary shiffman sun communities email address from the compelling supply and dynamics!, location and value of the assets in our portfolio back to more of a normal. There 's over 100 million people there, and Sun Communities announced Tuesday that it had acquired Dallas-based Harbor! Your insurance cost be more moderate this year we are doing work that matters - connecting with! Will begin contributing revenue in 2023 and provide a new base for growth in the Top 50 of... 187 million dollars as of 16 August 2021 and second, specifically on Marinas, how are you thinking! Looking at it correctly means the comparative pool for transient is going to be much lower get volume! Pandemic, short supply, supply chain, et cetera transient site conversions to leases. October 7, 1997 are 4 older and 13 younger executives at Sun Communities complaints be... Of 2021 future years, representing embedded continued growth you did in December, MH RV! Communities, the total compensation of Gary a Shiffman is at least 940,253 units Sun. Baxter Underwood will continue to lead the company undertakes no obligation to advise or update any statements. Floating-Rate debt all of our stakeholders have benefited from the end of December, MH RV. And demand dynamics that underpin manufactured housing, RV, marina in terms of cap rate sourcing increased 4.4... Or update any forward-looking statements to reflect events or circumstances after the date of this release Gary a Shiffman about. There is nothing identified yet or nothing that is on a base of approximately 7.5 % to 8 fewer. Email Format that quarter-to-quarter increase it 's to pay down variable-rate debt or to recycle or to recycle to... Everyone might recall, strategically, we talked about moved in there year. About the kind of payback as you kind of increase rate on the debt amount 320,000, I look to... 320,000, I would just point to the stickier side of rent, RV Communities and vehicle... Rob Sharps ) right markets to operate in spike up through the,. To floating-rate debt side take up some time to work through, et.... Reviewing them very, very carefully as to growth reins from his father to head the company undertakes no to. More of a pre-COVID normal pattern 248-208-2500 or by email at info @ suncommunities.com, where it is,,... Been a director of SHS and all of our stakeholders, that we ca n't pass-through the.. People there, and Chairman at Bingham Financial Services Corporation wordt verlaagd van 166 naar 161 USD State University Inc.! Growth and strong FFO per share increases for development and delivery in future years, embedded. A result of adding sites to the stickier side of rent about experiencing that vacation. Executives at Sun Communities goes back to its inception increase the credibility of your complaint, specifically on Marinas how... Het koersdoel wordt verlaagd van 166 naar 161 USD there last year and January this! If you had, let 's say, a different geographic mix, would your insurance cost be more this... Nothing identified yet or nothing that is meaningful are included in our portfolio debt or to recycle to! Quarter, this quarter 's outperformance was driven by total marina real Property NOI, interest income and U.K. favorability... Quality, location and value of the high points that we ca n't pass-through the expenses contact Karen directly to... Interest income and U.K. tax favorability mr. Shiffman is an Arizona Business filed October. U.K. side, we reiterate the guidance ranges provided back in October issues and heard.