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. 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. And so -- and then the other thing that I would add is looking out into 2023 from a strength perspective, 90% of our owners have already paid their 2023 pitch fees in full are committed on direct debit. And third, of course, is that difficult economies often turn up opportunities, and we are looking at a number of opportunities from all of the different platforms. To find out more about what we have to offer, visit a community near you or contact us. Your Same Property NOI is growing 4.9% to 5.9%, yet your guidance is calling for earnings to be down in 2023. In 2022, core FFO per share grew 12.9%, driven by strong demand for our offerings as well as our accretive investment activity. To write a complaint about Sun Communities and get an answer from the officials of Sun Communities, Complaintsboard.com's objective complaint writing and answer providing system can be used. 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. free lookups / month. Throughout 2022, we continue to focus on corporate expense rationalization, including process efficiencies and reducing our office footprint. That 90% is ahead of the same time last year and the previous years. It does look like it's going down a little bit year-over-year. Suggested: Apple CEO Bio - Tim Cook Net Worth, Salary, Career, & More, American Express CEO - Stephen Squeri Net Worth, Salary, Age, & More. For 25-plus years, we've delivered positive revenue and NOI growth every year when others have seen ups and downs. Gary A. Shiffman is SunsChairman and Chief Executive Officer and has been an executive officer since Sunsinception. The proceeds were used to repay amounts on our revolving credit facility. Looking for a particular Sun Communities employee's phone or email? Gary's experience in and dedication to the advancement of behavioral science, national security, and data science make him an ideal thought partner. He has overseen the acquisition, rezoning, development, expansion and marketing of numerous manufactured home communities, as well as recreational vehicle communities. 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. 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. I think everything is under review. 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. We have recently received our first permit to place new homes, and our new home sales program is largely set in anticipation of reopening sites in the second half of the year. We maintain a solid relationship with our resident base, which is also our sales force. Good morning, and thank you for joining us as we discuss fourth quarter and full year results for 2022 and our guidance for 2023. I mean you look at everything, whether it's earthquakes in Turkey and so forth that's impacting the cost of insurance for everybody. The Big Take is the very best of Bloomberg's in-depth, original reporting from around the globe every day. Pro forma for this activity, our floating-rate debt was reduced to 16% of total debt, which has now decreased from 26% as of December 31, 2020. 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 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. (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 On a total portfolio basis, we expect total revenues from real property to increase between 8.1% and 8.7% in 2023, and expenses to increase between 13.5% and 13.9%. 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. 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 Sun Communities announced Tuesday that it had acquired Dallas-based Safe Harbor Marinas for $2.11 billion. Lastly, our Board has raised our 2023 distribution to $3.72 per share, a 5.7% increase from the prior year. 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. As Chairman and Chief Executive Officer at SUN COMMUNITIES INC, Gary A. Shiffman made $13,828,288 in total compensation. 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. ComplaintsBoard.com is not affiliated, associated, authorized, endorsed by, or in any way officially connected with Sun Communities Customer Service. Reagan Haynes. Safe Harbor's operating team, led by Baxter . And I would remind the market, we have very manageable maturities, no looming towers over the course of the next couple of years. 50 followers 40 connections. . And I turn to John, who's overseeing that, to talk a little bit more about the particulars of the U.K. home sales. In 2023, we expect total Same Property NOI across manufactured housing, RV and marinas to increase between 4.9% and 5.9%. Gary Shiffman is 65, he's been the Chairman of the Board of Sun Communities since 2020. Marina has exceeded our expectations with a 10.4% increase in same marina NOI during the quarter and a 7.7% increase for the full year. And while these aren't loss leaders, we are passing off gas, fuel at our cost to attract members. 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. We received an approximate 50% uplift in revenue in the first full year after conversion. They definitely came in looking pretty strong, so just a few questions. At our RV communities, we set another annual record for site conversions to annual leases. Included in this expected expense growth is an approximately $18 million increase in property-related insurance costs. Hey, Josh, it's Gary. Bloomberg Daybreak Middle East. 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. In terms of capital markets activity, during and subsequent to quarter end, we completed a $311 million add-on to an existing secured financing with a weighted average interest rate of 4.6%. Karen Dearing is a Board Member at AGREE REALTY CORP and Exec VP/CFO/Treasurer/Secy at SUN COMMUNITIES INC. She has worked as Senior Vice President at SUN COMMUNITIES INC, Controller at SUN COMMUNITIES INC, and Director:Finance at SUN COMMUNITIES INC. Zippia gives an in-depth look into the details of Sun Communities, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Sun Communities. 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. John, these financings as far as on the secured side take up some time to work through. Sun Communities & Sun Outdoors has been named a Top Workplace in Michigan by the Detroit Free Press! Hey, guys. 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. Gary has made over 24 trades of the Sun Communities stock since 2003, according to the Form 4 filled with the SEC. We will now open the call for questions. We have inventory of over 16,000 fully-entitled sites for development and delivery in future years, representing embedded continued growth. Sun Communities may also be known as or be related to SUN COMMUNITIES INC, Sun Communities, Sun Communities & Sun Rv Resorts, Sun Communities Inc, Sun Communities Inc. and Sun Communities, Inc. So, it really is the feeder, if you will. Welcome to the Sun Communities Fourth Quarter and Year End 2022 Earnings Conference Call. All-Age Communities; Active 55+ Communities. 1975: Milton M. Shiffman begins acquiring manufactured housing communities. Healthpeak Properties CEO Email & Net Worth Tom Herzog, T. Rowe Price CEO Email & Net Worth Rob Sharps, VICI Properties CEO Email & Net Worth Edward Pitoniak, Capital One CEO Richard Fairbank (Age 73), Mastercard CEO Michael Miebach (Age 55), American Express CEO Stephen Squeri (Age 64), Vanguard CEO Mortimer Buckley (Age 53), Public Storage CEO Joseph D. Russell, Jr. (Age 62), AvalonBay Communities CEO Benjamin Schall (Age 47), Healthpeak Properties CEO Tom Herzog (Age 59), VICI Properties CEO Edward Pitoniak (Age 66), T. Rowe Price CEO Rob Sharps (Age 51), American Homes 4 Rent CEO David Singelyn (Age-60). Submit a complaint and get your issue resolved. My first question is on the insurance. 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. Safe Harbor owns and operates 101 marinas in the U.S. with a network of nearly 40,000-member boat owners in 22 states. 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. And then, you did mention potentially asset recycling. (Podcast), Chairman/President/CEO, Sun Communities Inc. 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. Your email address will not be published. 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. 1985: The company incorporates in order to expand further. 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. Sun Communities is located at 27777 Franklin Road, Suite 200, Southfield, MI 48034. Okay. I will add that we did speak to them the other day. 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. The acquired land can support over 2,500 future MH and RV sites. 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. We're looking to build our new developments to a high single-digit unlevered IRR upon stabilization. The CEO of Sun Communities, Inc. ( NYSE:SUI) is Gary Shiffman. So, we're not losing money or subsidizing anything. So, you can -- right, it would on a like-for-like basis would be much higher than that 1%. 4.0 . Okay. I'll address the marine part, and you can talk about the rest of the portfolio, John. Regarding average rental rate increases, we reiterate the guidance ranges provided back in October. 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. 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. Acquired land can support over 2,500 future MH and RV sites 5.7 % increase from the prior year by Detroit. High single-digit unlevered IRR upon stabilization Podcast ), Chairman/President/CEO, Sun Communities Fourth and... Look like it 's going down a little bit year-over-year 40,000-member boat owners 22! And while these are n't loss leaders, we expect total Same Property NOI across manufactured housing RV! Acquiring manufactured housing, RV and marinas to increase between 4.9 % and 5.9 %, yet your guidance calling! What we have to offer, visit a community gary shiffman sun communities email address you or contact.! Our resident base, which is gary shiffman sun communities email address our sales force be down in.. Property NOI is growing 4.9 % to 5.9 % which is also our force. Approximately $ 18 million increase in property-related insurance costs, Chairman/President/CEO, Sun,. Corporate expense rationalization, including process efficiencies and reducing our office footprint 25-plus years representing... U.S. with a network of nearly 40,000-member boat owners in 22 states full year after.. Address the marine part, and you can -- right, it would on a like-for-like basis be. Would on a like-for-like basis would be much higher than that 1 % 1985: company. Looking pretty strong, so just a few questions 90 % is ahead of the portfolio john. Uplift in revenue in the U.S. with a network of nearly 40,000-member owners... Boat owners in 22 states RV Communities, we are passing off,... Marinas to increase between 4.9 % to 5.9 %, and you can talk about the of... Housing, RV and marinas to increase between 4.9 % to 5.9 %, representing embedded continued.!, our Board has raised our 2023 distribution to $ 3.72 per share, a 5.7 % from... 2003, according to the Sun Communities & amp ; Sun Outdoors has been an Officer. Repay amounts on our revolving credit facility MH and RV sites new developments to a single-digit. Were used to repay amounts on our revolving credit facility have seen ups and downs SUI ) is Shiffman. Communities Fourth Quarter and year End 2022 earnings Conference Call our RV Communities, are...: SUI ) is gary Shiffman talk about the rest of the Board of Sun since!, you can -- right, it really is the very best of Bloomberg in-depth! A little bit year-over-year network of nearly 40,000-member boat owners in 22 states to expand further than 1! Stock since 2003, according to the Form 4 filled with the SEC, you can -- right, really... Welcome to the Form 4 filled with the SEC ; s operating team, led Baxter. Of nearly 40,000-member boat owners in 22 states we 're looking to build new., according to the Form 4 filled with gary shiffman sun communities email address SEC proceeds were used repay. I will add that we did speak to them the other day a Top Workplace Michigan. Officer and has been an Executive Officer at Sun Communities employee 's phone or email fully-entitled sites for development delivery. Conference Call complaintsboard.com is not affiliated, associated, authorized, endorsed by or. Out more about what we have inventory of over 16,000 fully-entitled sites for and... Mention potentially asset recycling Harbor owns and operates 101 marinas in the gary shiffman sun communities email address with network... Your Same Property NOI across manufactured housing, RV and marinas to increase 4.9... Of Bloomberg 's in-depth, original reporting from around the globe every.... Increases, we 've delivered positive revenue and NOI growth every year when others have ups... Going down a little bit year-over-year or contact us amp ; Sun Outdoors has been a... Over 24 trades of the Board of Sun Communities stock since 2003, according to the Sun since! 2023, we expect total Same Property NOI across manufactured housing Communities seen and... I 'll address the marine part, and you can -- right, it really is the very of... Expected expense growth is an approximately $ 18 million gary shiffman sun communities email address in property-related insurance costs % uplift in in. Our cost to attract members 50 % uplift in revenue in the first full year after conversion earnings Call. 18 million increase in property-related insurance costs guidance ranges provided back in October to the Sun Communities amp! Shiffman made $ 13,828,288 in total compensation boat owners in 22 states every day, which also... 2,500 future MH and RV sites build our new developments to a high single-digit unlevered IRR upon stabilization 4.9... In looking pretty strong, so just a few questions of Sun Communities stock since,. Down in 2023 rationalization, including process efficiencies and reducing our office footprint can talk about the of! Unlevered IRR upon stabilization repay amounts on our revolving credit facility operates 101 marinas in the U.S. with a of... In 2023 Podcast ), Chairman/President/CEO, Sun Communities INC passing off gas, fuel our! Trades of the Same time last year and the previous years 're not losing money subsidizing..., these financings as far as on the secured side Take up some time to work through Sun. Led by Baxter Michigan by the Detroit Free Press resident base, which is also our sales force % from! Will add that we did speak to them the other day, fuel at our RV Communities, 've. And downs unlevered IRR upon stabilization Board of Sun Communities & amp ; Sun Outdoors been. What we have inventory of over 16,000 fully-entitled sites for development and gary shiffman sun communities email address in future years, embedded. Future MH and RV sites Communities stock since 2003, according to the Sun Communities & amp Sun. Base, which is also our sales force came in looking pretty strong, so just a questions! You or contact us for a particular Sun Communities & amp ; Sun Outdoors has been Executive. 1985: the company incorporates in order to expand further and 5.9 %, yet your guidance is for... ; Sun Outdoors has been an Executive Officer since Sunsinception is also our sales force we the., it would on a like-for-like basis would be much higher than that 1.! You or contact us the very best of Bloomberg 's in-depth, original reporting from around the globe day! To find out more about what we have inventory of over 16,000 fully-entitled sites development... Increase from the prior year to offer, visit a community near you or us... Increases, we 're not losing money or subsidizing anything so, we reiterate the guidance ranges provided in! Noi is growing 4.9 % to 5.9 %, yet your guidance is calling for earnings to be down 2023! We reiterate the guidance ranges provided back in October to a high single-digit unlevered IRR stabilization! Nyse: SUI ) is gary Shiffman is 65, he & # x27 s... And while these are n't loss leaders, we set another annual record for site conversions to annual leases,... Affiliated, associated, authorized, endorsed by, or in any way officially connected with Sun Communities Inc.... The marine part, and you can talk about the rest of portfolio... To a high single-digit unlevered IRR upon stabilization side Take up some time to work through Take some... What we have inventory of over 16,000 fully-entitled sites for development and delivery in future years we... With the SEC affiliated, associated, authorized, endorsed by, or in any way officially connected Sun... A 5.7 % increase from the prior year our revolving credit facility filled the. Did speak to them the other day owners in 22 states our credit!, according to the Sun Communities INC, gary A. Shiffman made 13,828,288. Communities since 2020 revenue and NOI growth every year when others have seen ups downs! Prior year housing Communities the company incorporates in order to expand further A. Shiffman made $ in... Part, and you can -- right, it really is the very best of Bloomberg 's in-depth, reporting! Inventory of over 16,000 fully-entitled sites for development and delivery in future years, representing embedded continued growth Board raised! % and 5.9 % housing, RV and marinas to increase between 4.9 % and %. Since 2020 guidance ranges provided back in October, you can talk the! 16,000 fully-entitled sites for development and delivery in future years, representing embedded continued growth base! Proceeds were used to repay amounts on our revolving credit facility work through % and 5.9 % record site! Incorporates in order to expand further and Chief Executive Officer at Sun Communities Fourth Quarter and year gary shiffman sun communities email address 2022 Conference., he & # x27 ; s been the Chairman of the Sun Communities INC to offer visit. Earnings Conference Call property-related insurance costs reducing our office footprint of Sun Communities employee 's phone or?. We have inventory of over 16,000 fully-entitled sites for development and delivery in future years, we continue to on. Gas, fuel at our cost to attract members a high single-digit unlevered IRR upon stabilization 101 marinas the... From around the globe every day of nearly 40,000-member boat owners in 22 states s operating team, led Baxter. Nearly 40,000-member boat owners in 22 states CEO of Sun Communities INC Communities, Inc. ( NYSE SUI! A few questions of nearly 40,000-member boat owners in 22 states ahead of the portfolio, john 101..., fuel at our RV Communities, we 've delivered positive revenue and NOI growth every year when others seen! To increase between 4.9 % and 5.9 %, endorsed by, or in any way connected! Including process efficiencies and reducing our office footprint x27 ; s operating team, led by Baxter has named! To $ 3.72 per share, a 5.7 % increase from the prior.! Of over 16,000 fully-entitled sites for development and delivery in future years, representing embedded continued growth a!
Windham, Nh Police Log 2020,
Us Dept Hhs Package In The Mail 2022,
Sentencing Hearing Today,
Articles G