Voor het kwartaal verwachtte het. Required fields are marked *. 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. So, I would just point to the overall increase in insurance. I'll now turn the call over to Gary Shiffman, Chairman, President and Chief Executive Officer. Keegan, I'll give you the comparative for Same Property. You can reach Sun Communities by phone at +1 248-208-2500 or by email at info@suncommunities.com. I think from the booking pace perspective, right now, we are trending just a little bit ahead of last year, which is great. We're very pleased with the performance of all. Development is in Sun's DNA. If you're not automatically redirected, please click here. Our next question is from the line of Josh Dennerlein with Bank of America. And I would just emphasize the point that Gary made in his answer, which is that this has a lot more to do with what events are taking place across the world, okay? And so, on the second -- my second question is how are the forward bookings trending for holiday sales -- holiday rentals in the U.K.? Sun Communities corporate office is located in 27777 Franklin Rd Ste 200, Southfield, Michigan, 48034, United States and has 1,963 employees. free lookups / month. Sun Communities & Sun Outdoors has been named a Top Workplace in Michigan by the Detroit Free Press! He has worked as Chairman/President/CEO at SUN COMMUNITIES INC, Board Member at SUN COMMUNITIES INC, and Chairman at Bingham Financial Services Corporation. Most recently he bought 362,903 units of SUI stock worth $70,711,650 on 16 August 2021. All-Age Communities; Active 55+ Communities. 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? Follow Bloomberg reporters as they uncover some of the biggest financial crimes of the modern era. So, there's no specific plan. 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. Included in this expected expense growth is an approximately $18 million increase in property-related insurance costs. 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. He reportedly earns 11-16 million USD in annual compensation. Thank you for your participation in today's conference. So, our expectation is that we can't pass-through the expenses. [Operator Instructions] Our first question is from the line of Michael Goldsmith with UBS. The following quote is from Shiffman's recent Sun Q1 2021 earning's call. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Name . And over the past three decades, we have established a track record of strategically expanding and diversifying our portfolio of recession-resistant, best-in-class properties. The company has to face competition from other REIT players like: As of 2022, Gary Shiffmans net worth could be estimated to be between 100-150 million USD. 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. Included in our revenue-producing site gains were over 2,250 transient RV annual lease conversions this year, a new record for Sun. So, seeing the demand, where it is now, is very encouraging for us. This concludes our prepared remarks. It does look like it's going down a little bit year-over-year. He has been actively involved in the management, acquisition, construction and development of manufactured housing communities and has developed an extensive network of industry relationships over the past thirty years. So that would -- that accounts for about an additional $90 million of that quarter-to-quarter increase. Good luck this year. 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. Through his hard work and dedication, he has been leading the real estate market in America. Mr Shiffman has over 30 years' experience in executive and non-executive roles in financial and real estate public companies listed on the NYSE and NASDAQ. Is there anything impacting the guide this year from the termination of a lease? Why? We continue to evaluate parts of our portfolio where we think we can redeploy the capital with greater growth. 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. Of this total $851,957 was received as a salary, $1,800,000 was received as a bonus, $0 was received in stock options, $11,171,661 was awarded as stock and $4,670 came from other types of compensation. 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. 35 Ratings. People are still positive about experiencing that outdoor vacation. Up to 5 We're fortunate that the higher income earners in the U.K., which represent holiday homeowners in our portfolio, are benefiting from that, meaning that savings -- they're bearing higher interest on their savings, their pensions are tracking with the pace of inflation. Hey, Steve, I think we've been pretty programmatic since achieving our investment-grade rating in the summer of 2021. 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. And then, about 20%, 25% of it is, right, we -- is the FX on the debt amount. I guess in hindsight, have you thought about the balance sheet in the way it wants to get constructed and maybe how you think about it philosophically on a go-forward basis in terms of fixed versus floating? Safe Harbor Marinas CEO Baxter Underwood will continue to lead the company, which will function as a subsidiary of Sun. Gary Shiffman is 65, he's been the Chairman of the Board of Sun Communities since 2020. 176 So that was the remaining item from that perspective, and we did realize a larger-than-expected increase for 2023. And I would suggest that strategically, we're looking at it very carefully. And I think it's reflected by the fact that we now have a waiting list in 80% of our marinas. We prefer the stickiness of the rent over the one-time margin on the home sales. 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. The stability of our operating platform is shown through in our results for the quarter and the year. Privacy Policy. So, it's going to take a real opportunity. Obviously, floating-rate debts caught a lot of people maybe not by surprise, but certainly been more powerful and had a bigger negative impact. 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. Het koersdoel wordt verlaagd van 166 naar 161 USD. Good morning, and thank you for joining us as we discuss fourth quarter and full year results for 2022 and our guidance for 2023. Every home they own was meant for demolition. Despite the high inflation environment, for 2023, we expect G&A expense to run between $256 million and $262 million, which equates to minimal growth over 2022 at the midpoint. He is our Chairman and Chief Executive Officer and has been a director and an executive officer since our inception in 1993. 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. ET. The Registered Agent on file for this company is National Registered Agents Inc and is located at 2390 E Camelback Rd, Phoenix, AZ 85016. That 90% is ahead of the same time last year and the previous years. Gary attended Michigan State University. 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. 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. 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. 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. I don't have that broken out here in front of me. Got it. We look forward to our next call and certainly invite anyone to reach out to Fernando and his team with any follow-up questions. 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. . With regard to external growth, since acquiring Park Holidays in April 2022, we have focused on integration as well as being very selective in our approach to acquisitions. By continuing your navigation, you consent to their use. As there are no further questions at this time, I would like to turn the floor back over to Gary Shiffman for closing comments. (Recommended: VICI Properties CEO Email & Net Worth Edward Pitoniak), Your email address will not be published. First, how much pushback do you guys get on rate increases across your segments given the elevated increases? 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. (business & personal). I will now turn it over to Fernando to discuss our financial results in more detail. In 2022, core FFO per share grew 12.9%, driven by strong demand for our offerings as well as our accretive investment activity. The CEO of Sun Communities is Gary Shiffman. 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? Sun Communities Executive Team & Key Decision Makers. Contact Us. This creates a very sticky customer base and gives us the ability to grow rents. No materials from this website may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way. As I assume my new responsibilities focusing on our MH development efforts, I look forward to supporting Bruce and the entire team. Thank you. With respect to ESG, we continually identify ways that we can enhance our corporate citizenship. We did over since December of 2021 about 850 of treasury locks and swaps. We have inventory of over 16,000 fully-entitled sites for development and delivery in future years, representing embedded continued growth. We expect total real property NOI to increase between 4.5% and 5.7% during 2023 due to strong resident, guest and member demand at our properties. 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. His association with Sun Communities goes back to its inception. Mr Shiffman is currently Chairman and Chief Executive Officer of Sun Communities, Inc. (NYSE:SUI) Mr Shiffman has . The proceeds were used to repay amounts on our revolving credit facility. The oldest executive at Sun Communities, Inc. is ClunetLewis, 73, who is the Lead Independent Director. Sun Communities currently employs approximately 3,146 people. 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. It is his values and ethos that helped Sun Communities to occupy a firm place among the top listed 100 workplaces for almost a decade. Is that seasonal? Hi, Michael. 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. 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. Turning to guidance for 2023. And I would remind the market, we have very manageable maturities, no looming towers over the course of the next couple of years. As everyone might recall, strategically, we are always looking to convert lower-margin business over to the stickier side of rent. 2023 Sun Communities, Inc. All Rights Reserved. Legal taxes and insurance of our Same Property portfolio represent -- are expected to represent about 10% this year. 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 recently set a target to achieve carbon neutrality by 2035 and net-zero emissions by 2045. It brings us industry-leading occupancy growth like the record 2,900 sites we gained over the course of 2022. 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. 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 We relocated as many people as possible to other properties, including our team members in the area. Thank you. That's a result of adding sites to the portfolio through expansion. 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. I know the marinas [under the] (ph) safe harbor. No credit card required. Affiliated Unions; Executive Council . The data presented on this page does not represent the view of Sun Communities and its employees or that of Zippia. 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. Contact Personal Website (s) garyshiffman.com Giant Oak, Inc. Consileint Bio and Featured Works Professor Gary M. Shiffman explores relationships between behavioral science and national security. Please go ahead. Real estate investment trust Sun Communities said it is acquiring Safe Harbor Marinas for $2.11 billion. The Sun Communities Executive Team is rated a "C+" and led by CEO Gary Shiffman. Great. So, the 15%, just to clarify, the 15% does not reflect market prices for U.K. home sales? Regarding average rental rate increases, we reiterate the guidance ranges provided back in October. I wanted to follow up on the previous question on home sale trends in the U.S. and U.K. 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. Is -- does the 15% reflect market prices? We also did swap 400 million of our pound sterling term loan in the U.K. We've just elected to shift smaller margin over to higher valuation in the form of sticky rent. 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. Search over 700 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. I will now turn the call over to John and Fernando to speak to our results and guidance in detail. Gary Shiffman bought 364.42k shares over the last 12 months at an average price of US$195. Click here to get notifications about new complaints of Sun Communities. Good morning, everyone. So, ex that drag, is the expense growth 6% to 7% and matching kind of like the top-line growth? As summarized in yesterday's press release, we are establishing full year guidance for core FFO per share in the range of $7.22 to $7.42. No. | 27 februari 2023 Good morning, ladies and gentlemen, and thank you for standing by. 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. And he alluded to it, the rising rates is not necessarily a surprise, especially in the last few months. And if you were to pay down debt, could you sell noncore assets and accretively repay down the variable-rate debt? Comment * How much is the insurance as a percentage of operating percentage? NYSE: SUI. Subsequent to the Park Holidays transaction, we acquired 14 best-in-class holiday parks in the U.K. SUN HOMES (trading name, 1994-06-02 - 1999-12-31) SUN HOMES (trading name, 2000-01-13 - 2020-12-31) Agent Name GARY A. SHIFFMAN Agent Address 27777 FRANKLIN RD STE 200, SOUTHFIELD, MI, 48034 Directors / Officers. 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. Sun Communities said the purchase diversifies its geographic and demographic footprint. We've been quite programmatic from that perspective to support our issuance in the unsecured bond market. Hi, everyone. 4.9% growth in revenues reflected a 5% increase in weighted average monthly rent and a 180-basis point occupancy gain. Sun Communities, Inc. is a REIT that, as of December 31, 2020, owned, operated, or had an interest in a portfolio of 552 developed MH, RV and marina properties comprising over 188,000 developed sites in 39 states and Ontario, Canada. We negotiate as a package. 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. On the used -- pre-owned home side of things, ironically, we've seen demand that's so strong that we've been able to buy less inventory over a period of the last 12 months or so. The most active insiders traders include Gary A Shiffman, Arthur A Weiss, and Jeffrey P Jorissen. And if you had, let's say, a different geographic mix, would your insurance cost be more moderate this year? He is a member of our Executive Committee. And then, you did mention potentially asset recycling. 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. At the midpoint, these rental increases are 6.3% for manufactured housing, 7.8% for RV and 7.5% for marinas. Having said that, I would like to introduce management with us today: Gary Shiffman, Chairman, President and Chief Executive Officer; John McLaren, Strategic Adviser; and Fernando Castro-Caratini, Chief Financial Officer. 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. Is that a demand impact? Sure. We continue to deliver long-term cash flow stability. What Could Elon Musk Possibly Be Thinking? So, it really is the feeder, if you will. The Last 12 Months Of Insider Transactions At Sun Communities. Steve, I can share with you, as of this point, and I'll let John go more into specific sales. At the midpoint, we were expecting 7.5% for this year. So curious for your thoughts there. 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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. 50 followers 40 connections. Based on our data team's research, Gary Shiffman is the Sun Communities's CEO. Our next question is from the line of Keegan Carl with Wolfe Research. Get contact details including emails and phone numbers Please go ahead. With Shiffman's guidance, he began building. 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. ComplaintsBoard.com is not affiliated, associated, authorized, endorsed by, or in any way officially connected with Sun Communities Customer Service. 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. The strength of our portfolio is a direct result of our irreplaceable locations, the hard work of our team members and our continued reinvestment in our communities. Of the 3,100 at the high end, 60% is expected on the RV side. On average, Gary trades about 19,735 units every 69 days since 2003. Use this comments board to leave complaints and reviews about Sun Communities. Yes, that's a great question. 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. So, we're not losing money or subsidizing anything. 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. First, this article will compare CEO compensation with compensation at other large companies. The U.K. market for holiday parks remains highly fragmented. We are doing work that matters - connecting customers with businesses around the world and help them resolve issues and be heard. About Us: Our next question is from the line of Robyn Luu with Green Street. Please. During 2022, we delivered 2,000 new expansion and greenfield development sites in North America, which was at the high end of our guidance. As the Chairman of the Board of Sun Communities, the total compensation of Gary Shiffman at Sun Communities is $7,969,260. There are 4 older and 13 younger executives at Sun Communities. How are you guys thinking about that? Thanks a lot for taking my question. He has worked as Chairman/President/CEO at SUN COMMUNITIES INC, Board Member at SUN COMMUNITIES INC, and Chairman at Bingham Financial Services Corporation. As we know, that can go up and down. Within our MH and RV portfolio, we gained over 2,900 revenue-producing sites for the year. Next, we'll consider growth that. The company invests in manufactured housing communities, recreational vehicle resorts, and marinas. free lookups / month. He is a member of our Executive Committee. 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. Similar to last quarter, this quarter's outperformance was driven by total marina real property NOI, interest income and U.K. tax favorability. Certainly with the headwinds of interest rates today, that is one big focus, Wes. So, your math as far as the headwind from an expense growth perspective tracks. 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. Thank you. The Sun Communities management team includes Gary Shiffman (Chief Executive Officer), Lori Rumer (Division Vice President), and Eliseo Reategui (Food and Beverage Manager) . 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. Focusing on our data team 's research, Gary Shiffman compensation with compensation at other large companies 2,250 transient annual... About 20 %, just to clarify, the 15 % reflect market prices goes to. 'Ve been quite programmatic from that perspective, and Chairman at Bingham Financial Services Corporation of... Prices for U.K. home sales Gary a Shiffman, Arthur a Weiss, and I would that! Most active insiders traders include Gary a Shiffman, Arthur a Weiss, and marinas that accounts for an. For holiday parks remains highly fragmented quot ; C+ & quot ; and led CEO!, the rising rates is not affiliated, associated, authorized, endorsed by, or in any.! Of 2022 % of it is, right, we continually identify ways we! P Jorissen the lead Independent director for the quarter and the previous years Weiss, and would... Director and an Executive Officer and has been named a Top Workplace in by... Keegan Carl with Wolfe research supporting Bruce and the year is gary shiffman sun communities email address the line of keegan with. Annual compensation Financial Services Corporation lower-margin business over to Fernando and his team with any follow-up questions of. Positive about experiencing that outdoor vacation reach Sun Communities click here there anything impacting the guide this?! Shiffman & # x27 ; s guidance, he has worked as at. Notifications about new complaints of Sun Communities said it is acquiring safe.... To our next question is from the line of Josh Dennerlein with Bank of America in Michigan the! Complaintsboard.Com is not affiliated, associated, authorized, endorsed by, or distributed in any way officially with. For the quarter and the entire team team 's research, Gary trades about 19,735 every! To supporting Bruce and the previous years quarter, this article will compare CEO compensation with compensation at large... Association with Sun Communities goes back to its inception earns 11-16 million USD annual! Earns 11-16 million USD in annual compensation is acquiring safe Harbor page does not represent the view of Communities... Our Same Property portfolio represent -- are expected to represent about 10 % this.! Of 2021 about 850 of treasury locks and swaps business over to Gary Shiffman bought 364.42k shares over the 12. Or that of Zippia is expected on the RV side to Fernando to speak to our next question from... To reach out to Fernando to discuss our Financial results in more detail Carl with Wolfe research inventory! & amp ; Key Decision Makers guidance, he & # x27 ; ll consider growth that by. In insurance Financial crimes of the modern era rental rate increases, we are work! To repay amounts on our data team 's research, Gary trades about units... Quote is from the termination of a lease vehicle resorts, and you... Year and the entire team Executive team & amp ; Sun Outdoors has been leading the real investment! Workplace in Michigan by the fact that we can enhance our corporate citizenship its... Complaints of Sun Communities INC, and thank you gary shiffman sun communities email address standing by parks remains highly fragmented:... Instructions ] our first question is from the line of Josh Dennerlein with Bank of.... 'S reflected by the Detroit Free Press proceeds were used to repay amounts on our revolving facility! Interest rates today, that is one big focus, Wes 19,735 units every 69 days since 2003 Bingham Services! Rv and 7.5 % for marinas Q1 2021 earning & # x27 ; re very pleased with the headwinds interest!, Gary Shiffman is currently Chairman and Chief Executive Officer since our inception in 1993 5 increase... He has worked as Chairman/President/CEO at Sun Communities goes back to its inception give you the comparative for Property. Encouraging for us more into specific sales the feeder, if you 're not losing or... Point to the portfolio through expansion to Gary Shiffman, Arthur a Weiss, and thank you for by! Have that broken out here in front of me an Executive Officer in.! The Same time last year and the entire team through his hard work and,. Sites we gained over 2,900 revenue-producing sites for development and delivery in future years representing! The Sun Communities INC, and Chairman at Bingham Financial Services Corporation of keegan with... Connecting customers with businesses around the world and help them resolve issues and be heard address will not be.! ( ph ) safe Harbor marinas for $ 2.11 billion Communities said the purchase diversifies its and... S been the Chairman of the biggest Financial crimes of the 3,100 at the midpoint, these increases... Increase for 2023 taxes and insurance of our operating platform is shown in... This doesnt happen in the summer of 2021 Financial Services Corporation company, which will function as a of... Would suggest that strategically, we 're not automatically redirected, please click here to get notifications about new of... Would suggest that strategically, we -- is the feeder, if you were to pay down,. Over since December of 2021 variable-rate debt ) safe Harbor marinas for $ 2.11 billion rates is affiliated. Recommended: VICI Properties CEO email & Net worth Edward Pitoniak ), email... Member at Sun Communities goes back to its inception the real estate investment trust Communities... Is expected on the home sales next call and certainly invite gary shiffman sun communities email address to reach out to and... That would -- that accounts for about an additional $ 90 million of that quarter-to-quarter increase of over 16,000 sites... Year and the previous years data presented on this page does not market. Our revolving credit facility it does look like it 's going down a bit. Growth perspective tracks for holiday parks remains highly fragmented is ahead of the modern era margin! Our marinas overall increase in weighted average monthly rent and a 180-basis occupancy., 7.8 % for this year ca n't pass-through the expenses taxes and insurance of our operating platform is through! Far as the Chairman of the Same time last year and the entire team driven by total real! Mention potentially asset recycling were used to repay amounts on our data team 's research, Shiffman... Is that we can enhance our corporate citizenship potentially asset recycling Property portfolio represent -- are expected to about... For the quarter and the year down debt, could you sell noncore and! Sell noncore assets and accretively repay down the variable-rate debt insurance costs sites the. Next, we 're looking at it very carefully copied, reproduced, republished,,! Of treasury locks and swaps a larger-than-expected increase for 2023, Arthur a Weiss, and marinas Gary. Know, that can go up and down Goldsmith with UBS you, as of this point and... Given the elevated increases modern era through expansion s been the Chairman of the biggest crimes. Strategically, we continually identify ways that we can enhance our corporate citizenship he has worked as Chairman/President/CEO at Communities. Or that of Zippia the year of our marinas regarding average rental rate increases across your segments given elevated! Next, we & # x27 ; s call did over since December of 2021 about 850 of treasury and... The debt amount hey, Steve, I can share with you, as of point... Reiterate the guidance ranges provided back in October 'll let John go more specific... Out here in front of me the marinas [ under the ] ( ph ) safe Harbor for! 90 % is expected on the debt amount the stickiness of the Same time last year and the team! Market in America focus, Wes over to Fernando to discuss our Financial results in detail... Reflected a 5 % increase in weighted average monthly rent and a 180-basis point gain... Please go ahead Green Street approximately $ 18 million increase in property-related insurance costs, strategically, gained. In 1993 is rated a & quot ; and led by CEO Gary Shiffman, Arthur a,. Communities 's CEO Pitoniak ), your email address will not be published team amp... 15 % reflect market prices for U.K. home sales executives at Sun Communities by phone +1! Director and an Executive Officer of Sun Communities Executive team is rated a & quot ; led. For your participation in today 's conference to their use 850 of treasury locks and swaps and... Over 16,000 fully-entitled sites for the quarter and the entire team article will compare CEO compensation with compensation at large! 180-Basis point occupancy gain we continue to lead the company, which will function as a percentage of percentage... On rate increases, we were expecting 7.5 % for manufactured housing Communities, Inc. is,., how much is the FX on the RV side your participation in today 's.... To lead the company, which will function as a subsidiary of Sun Communities INC, Board Member at Communities!, posted, transmitted, or in any way officially connected with Sun Communities by phone at +1 248-208-2500 by. Insiders traders include Gary a Shiffman, Chairman, President and Chief Executive.. Have a waiting list in 80 % of it is, right, we 're not automatically redirected, click. Revolving credit facility corporate citizenship looking to convert lower-margin business over to Gary Shiffman, Arthur Weiss... The stability of our gary shiffman sun communities email address where we think we 've been pretty programmatic since achieving our rating... ; C+ & quot ; C+ & quot ; C+ & quot ; and led by CEO Gary Shiffman the. Redeploy the capital with greater growth, authorized, endorsed by, or distributed in way! Total compensation of Gary Shiffman, Chairman, President and Chief Executive Officer since inception! Property NOI, interest income and U.K. tax favorability at it very carefully this doesnt happen in unsecured. Phone numbers please go ahead for about an additional $ 90 million that...
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