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. Okay. Thank you. free lookups / month. So, strategically, over time, we expect to more than capture that difference, certainly, on a multiple basis for the stickiness of the rental revenue versus the lower-margin business. I live the valley in Apopka fl 55+ community. We actively managed our interest rate risk by paying down over $700 million of variable-rate debt in the past three months alone, with long-term fixed-rate debt, thereby continuing to reduce our floating rate exposure. Okay. Sun Communities currently employs approximately 3,146 people. 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. Most recently he bought 362,903 units of SUI stock worth $70,711,650 on 16 August 2021. So, there's no specific plan. 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 fact that we're in Florida, Texas and California is by design. Mr. Shiffman is an executive officer and a director of SHS and all of our other corporate subsidiaries. Comment * Good morning. And I think our strategy has really stood the test of time. Safe Harbor owns and operates 101 marinas in the U.S. with a network of nearly 40,000-member boat owners in 22 states. He is a member of our Executive Committee. For the fourth quarter, we reported core FFO per diluted share of $1.33, a 1.5% increase from the prior year. What industry does Sun Communities compete in? Okay. So, at $196,000 commanding average home prices that exceed virtually all competitors in our asset class, which I think illustrates the unmatched quality and the value our communities represent. SUI earnings call for the period ending June 30, 2021. 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.. As John likes to say, it's a lot harder to book a Tuesday or a Wednesday than it was during COVID as people are back to school, back to work. And I guess my real question is, as I think about like a go-forward basis, is that -- is this something you'll be able to recover in the future? Hey, guys. Appreciate the color, Gary. The company invests in manufactured housing communities, recreational vehicle resorts, and marinas. It reflects the environment for insurance at this point in time. But certainly, looking to actively manage our exposure to floating-rate debt. 27777 Franklin Rd, Ste 200, Southfield, Michigan 48034, US, View Since we achieved an investment-grade rating in 2021, we have now issued $2.2 billion of unsecured fixed-rate notes across four tranches. The CEO of Sun Communities, Inc. ( NYSE:SUI) is Gary Shiffman. In 2022, core FFO per share grew 12.9%, driven by strong demand for our offerings as well as our accretive investment activity. With respect to ESG, we continually identify ways that we can enhance our corporate citizenship. As far as debt increasing into the fourth quarter of last year, some of that right, our -- we had a significant amount of deliveries of ground-up and expansion development sites. Sun Communities Executive Team & Key Decision Makers. He is our Chairman and Chief Executive Officer and has been a director and an executive officer since our inception in 1993. Privacy Policy. Got it. 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). 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. Legal taxes and insurance of our Same Property portfolio represent -- are expected to represent about 10% this year. But if you look out into the whole year, we're a little bit ahead in total booking pace, meaning bookings that have actually happened at this point in time versus where we were last year. 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. Just $139.99 * View More Details Overview Doing Business As: WATER OAK HOME SALES Company Description: Key Principal: Gary Shiffman See more contacts Industry: Offices of Real Estate Agents and Brokers , Real Estate , Real Estate and Rental and Leasing , Broker of manufactured homes, on site Gary Shiffman is a Manager at Sun OFI LLC, Board Member at Sun Home Services Inc, and Executive Officer at Sun Home Services Inc. Thank you. And as we shared with the original information we provided on the deal, Brexit still makes it difficult to travel in the continent. No credit card required. How construction costs changed on those? So, I think, again, 40-year track record, 30-year public, 10-year private, indicates that we will be able to continue to get the correct growth based on the value proposition. 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 Sun Communities CEO Email | Gary Shiffman Contact You can write to gshiffman@suncommunities.com to connect with the real estate investment firm's CEO. Our Communities. Affiliated Unions; Executive Council . Additionally, we regularly evaluate our portfolio for capital recycling opportunities to enhance our long-term growth profile. We are actively and programmatically working on a number of strategies to continue to reduce our exposure to variable-rate debt. The Sun Communities Executive Team is rated a "C+" and led by CEO Gary Shiffman. So, we're not losing money or subsidizing anything. 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. We've been quite programmatic from that perspective to support our issuance in the unsecured bond market. And then, on the U.K., it looked like MH occupancy was down almost 300 basis points in the fourth quarter. Thanks for that. At our RV communities, we set another annual record for site conversions to annual leases. You called out $18 million increase in property-related insurance. ComplaintsBoard.com is an independent complaint resolution platform that has been successfully voicing consumer concerns since 2004. We and our stakeholders have benefited from the compelling supply and demand dynamics that underpin manufactured housing, RV communities and marinas. This documentary-style series follows investigative journalists as they uncover the truth. Mr. Shiffman owns over 362,903 units of Sun Communities stock worth over $136,515,333 and over the last 19 years he sold SUI stock worth over $42,994,704. The second area is certainly funding the development costs so that we can generate the high returns and create value for the stakeholders by increasing our manufactured housing portfolio. Claim it and get a lot of features. 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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. There are 4 older and 13 younger executives at Sun Communities. This year marks Sun's 30th year as a public company. 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. 10 free leads on us . Contact Karen directly Join to view full profile Looking for career advice? Sign up for a free account. On the U.K. side, we're seeing enormous strength on the higher end of home buying, the more expensive homes increasing. Thank you. The pound is still devalued in comparison to this time last year, and it's -- most people travel within two hours to get to the properties. Thanks. 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 2023 Sun Communities, Inc. All Rights Reserved. He has overseen the acquisition, rezoning, development and marketing of numerous manufactured home expansion projects, as well as other types of income producing real estate. 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. Image source: The Motley Fool. So, as we model out going forward, our going-in rents are higher than we originally modeled them out. [Operator Instructions] Our first question is from the line of Michael Goldsmith with UBS. About Us: Gary A. Shiffman; CEO, President & Chairman; Sun Communities, Inc. John Bandini McLaren; EVP; Sun Communities, Inc. Anthony Franklin Powell; Research Analyst; Barclays Bank PLC,. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. 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. Voor het kwartaal verwachtte het. 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