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 Good morning. About Us: GARY A. SHIFFMAN Chairman, Chief Executive Officer, and President Gary A. Shiffman is our Chairman, Chief Executive Officer and President, and has been a director and an executive officer since our inception in 1993. GARY A. SHIFFMAN, agent; GARY SHIFFMAN, director; JOHN B MCLAREN, president; KAREN J DEARING, treasurer; KAREN J DEARING, secretary And then, taking a step back, so if we think about your -- both your real property, excluding transient and transient on a like-for-like basis, if we exclude your transient conversion expectations for '23, where would the numbers shake out, both on excluding transient, then transient as a whole, right? As we look at our -- as we look strategically at the portfolio, and Gary mentioned in his remarks, right, we can -- we look at our investment program and ground-up development and expansion, we will be able to practically self-fund our investment activity in 2023, are selectively looking at opportunities on the capital recycling front, there's a couple of assets here and there, that over time can also reduce variable-rate debt. And he alluded to it, the rising rates is not necessarily a surprise, especially in the last few months. Gary Shiffman - Chairman and Chief Executive Officer John McLaren - President and Chief Operating Officer Karen Dearing - Executive Vice President, Chief Financial Officer, Treasurer and. 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. Occupancy in our Same Property MH and RV portfolio remained strong, increasing 180 basis points during 2022 to end the year at 98.6%. So, your math as far as the headwind from an expense growth perspective tracks. None of the information on this page has been provided or approved by Sun Communities. ComplaintsBoard.com is an independent complaint resolution platform that has been successfully voicing consumer concerns since 2004. 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. Where This Score Ranks Sun Communities' CEO Rating BOTTOM 35% In the Bottom 35% of 2023 Similar Sized Companies on Comparably 2nd The largest trade he's ever made was buying 453,841 units of Sun Communities stock on 3 May 2004 worth over $15,929,819. Is that seasonal? So, as we model out going forward, our going-in rents are higher than we originally modeled them out. 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. One last one from me. 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. I will add that we did speak to them the other day. Technologies. Gary's mailing address filed with the SEC is 27777 FRANKLIN ROAD, SUITE 300, SOUTHFIELD, MI, 48034. Find contact information for Sun Communities. Like, obviously, like insurance jumped up a lot this year outside of your control a little bit. 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. 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. Or is there some other explanation? Just curious how kind of the, I guess, economic uncertainties are kind of weighing on sales and whether you're seeing any bumps in the road as you kind of look into '23. Explore this wiki for details such as Sun Communities CEO email, Gary Shiffman net worth, and Sun Communities net worth. These investments have accretive going-in cap rates, and we believe they will deliver significant ongoing growth and yield strong returns. 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. During 2022, we delivered 2,000 new expansion and greenfield development sites in North America, which was at the high end of our guidance. 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 Our platform of recession-resistant, best-in-class properties is positioned to continue generating strong cash flow growth for the benefit of our stakeholders. Mr. Shiffman, you may begin. (Related: T. Rowe Price CEO Email & Net Worth Rob Sharps). Research Tools The company undertakes no obligation to advise or update any forward-looking statements to reflect events or circumstances after the date of this release. 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. Lastly, our Board has raised our 2023 distribution to $3.72 per share, a 5.7% increase from the prior year. It's actually one that we started on in July of the second quarter. And then, on the U.K., it looked like MH occupancy was down almost 300 basis points in the fourth quarter. On average, Gary trades about 19,735 units every 69 days since 2003. And I turn to John, who's overseeing that, to talk a little bit more about the particulars of the U.K. home sales. Sep 30, 2020. Gary A. Shiffman serves as Chairman of the Board of the Company. So, you will continue to see an emphasis on that strategy as we go forward. Sun Communities Executive Team & Key Decision Makers. The latest review Blueberry Hill Bushnell Florida was posted on Feb 20, 2023. 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. 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. And I would suggest that strategically, we're looking at it very carefully. Hi, Michael. 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? Gary A. Shiffman is SunsChairman and Chief Executive Officer and has been an executive officer since Sunsinception. Thank you. So, it's more back to normal, I think. 1975: Milton M. Shiffman begins acquiring manufactured housing communities. Sun Communities, Inc. (SUI) Southfield, MI. Gary Shiffman. ComplaintsBoard.com is a leading complaint resolution website on the Internet. There's over 100 million people there, and we focus our geographic footprint and target the right markets to operate in. Although the company believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, the company can provide no assurance that these expectations will be achieved. 4.0 . 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. 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. My wife and myself are getting thrown out of this park due to an unfair prejidced manager who lets a karaoke mob run this place and she has lied to corperate people to accomplish this I have several witnesses to this and they a justin lawson and rebecca morrison did not care to talk to anyone just told us we had to leave.. 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. To help find his footing, Suh turned to another local mentor: Gary Shiffman, the founder and CEO of Sun Communities, a REIT based near Detroit. We have two property management companies competing in one community. So, our new home or pre-owned home sales being down a little bit, it's just reflective of the demand, people staying in their homes longer. They are all complete wrecks mostly from pre 1970. Follow Bloomberg reporters as they uncover some of the biggest financial crimes of the modern era. Over the last 20 years, insiders at Sun Communities have traded over $67,900,866 worth of Sun Communities stock and bought 1,365,690 units worth $164,659,142 Like is there a way to kind of recover it kind of over the long term? This does conclude the company's remarks. What were they on the marina side, Fernando? 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. Thank you. Affiliated Unions; Executive Council . We feel it's definitely recoverable. And they look at the claims that they've paid out versus the premiums they've taken in. Our next question is from the line of Josh Dennerlein with Bank of America. We are an unparalleled team that has assembled a best-in-class portfolio and operating platform that has delivered impressive results over many years and continues to be positioned for future growth. 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. 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%. We maintain a solid relationship with our resident base, which is also our sales force. And really look forward to John's 10-year operating our communities, in particular, manufactured housing and being able to transfer that over to the 16,000-site inventory we now have to grow by. Image source: The Motley Fool. What Unions Do; Form a Union; What We Care About; Take Action; Gary Shiffman. 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. Executive Summary. Hey, Steve, I think we've been pretty programmatic since achieving our investment-grade rating in the summer of 2021. After their remarks, there will be an opportunity to ask questions. Sign up for a free account. Okay. Is -- does the 15% reflect market prices? Yes. I think you mentioned and maybe in the prepared comments that it was almost like a loss leader. Total portfolio occupancy of 96.8% includes newly delivered development and expansion sites. 5 free lookups per month. Certainly with the headwinds of interest rates today, that is one big focus, Wes. 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. Find contact details for 700 million professionals. Submit a complaint and get your issue resolved. Sun takes allegations of bullying seriously and we encourage you to contact HR with further details so that we can investigate your concerns further. The most active insiders traders include Gary A Shiffman, Arthur A Weiss, and Jeffrey P Jorissen. Since we achieved an investment-grade rating in 2021, we have now issued $2.2 billion of unsecured fixed-rate notes across four tranches. You might contact Gary A Shiffman via mailing address: 27777 Franklin Road, Ste 200, Southfield Mi 48034. Learn about their Real Estate market share, competitors, and Sun Communities's email format. Does the 15 % reflect market prices relationship with our resident base, which is our! 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