gary shiffman sun communities email address

We don't have it broken down individually to Florida. SUN COMMUNITIES INC income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. 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. GARY A. SHIFFMAN, agent; GARY SHIFFMAN, director; JOHN B MCLAREN, president; KAREN J DEARING, treasurer; KAREN J DEARING, secretary 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. What industry does Sun Communities compete in? And we will closely evaluate and continue to evaluate our exposure that is impacted by insurance as we go forward. Hi, good afternoon. Obviously, floating-rate debts caught a lot of people maybe not by surprise, but certainly been more powerful and had a bigger negative impact. Our next question is from the line of Anthony Powell with Barclays. Jul 27, 2021, 11:00 a.m. Gulf War veteran, 1990-1991 USS Blue Ridge (LCC 19), 1988-1991 USS Fife (DD 991) 1991-1992 Pentagon: Chief of Naval Operations, Surface Warfare Division, 1993 And while these aren't loss leaders, we are passing off gas, fuel at our cost to attract members. But as John mentioned or maybe I mentioned during -- in my section of the script, we are expecting another very strong year of conversions from transient sites to annual leases. Appreciate the color, Gary. Musks TeslaMaster Plan Lacks Drive. This information is according to proxy statements filed for the 2021 . The most-recent trade in Sun Communities Inc is the acquisition of 129,486 shares on August 16, 2021, which cost Gary A Shiffman around $26 Million. One is running the whole community into the ground. Importantly, we expect our G&A as a percentage of revenue to decline this year. 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. 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. New home sales are up. Subsequent to the Park Holidays transaction, we acquired 14 best-in-class holiday parks in the U.K. And then, my second question is just on the flow-through of the NOI growth. Why? People are still positive about experiencing that outdoor vacation. 35 Ratings. Today, we stand at about 16% floating-rate debt. So, as we model out going forward, our going-in rents are higher than we originally modeled them out. Yes, we are seeing positive strength there. SUN COMMUNITIES, INC. is an Arizona Business filed on October 7, 1997. Please go ahead. Do you have a preference from proceeds, whether it's to pay down variable-rate debt or to recycle or to buy assets? 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? Trying to grab the paperwork here. Good morning. 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. I think you mentioned and maybe in the prepared comments that it was almost like a loss leader. Sun recently set a target to achieve carbon neutrality by 2035 and net-zero emissions by 2045. We relocated as many people as possible to other properties, including our team members in the area. SUI earnings call for the period ending June 30, 2021. I think everything is under review. No credit card required. So, home sale prices fell by 15% from last quarter in the U.K., but was flat in U.S. MH business. Sun Communities said the purchase diversifies its geographic and demographic footprint. 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 . 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. Thank you for your participation in today's conference. We negotiate as a package. 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. I'll address the marine part, and you can talk about the rest of the portfolio, John. Note that we expect first quarter results to reflect the seasonality of U.K. operations, as outlined in our supplemental, which we acquired in April 2022. (business & personal). As our 30-year track record has demonstrated, we have a business model that delivers results throughout economic cycles, supported by compelling supply-demand fundamentals. The company's principal address is . Additionally, Mr. Shiffman, through his family-related interests, has had significant direct holdings in various real estate asset classes, which include office, multi-family, industrial, residential and retail. Mr Shiffman is currently Chairman and Chief Executive Officer of Sun Communities, Inc. (NYSE:SUI) Mr Shiffman has . Yes, that's a great question. And second, specifically on marinas, how much longer do you think you can push at an elevated level? And I turn to John, who's overseeing that, to talk a little bit more about the particulars of the U.K. home sales. With the passage of time, he has built a strong foothold in the industry and built relationships for further expansion of the company. 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. 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. Sep 30, 2020. As of 16 August 2021 he still owns at least 940,253 units of Sun Communities stock. 320,000, I think, we talked about moved in there last year. Because you obviously expect to compare a lot of sites, which means the comparative pool for transient is going to be much lower. I know the marinas [under the] (ph) safe harbor. With respect to ESG, we continually identify ways that we can enhance our corporate citizenship. So that is one area. (Related: T. Rowe Price CEO Email & Net Worth Rob Sharps). And going forward, we expect good solid growth this coming year. To find out more about what we have to offer, visit a community near you or contact us. Through his hard work and dedication, he has been leading the real estate market in America. Where This Score Ranks Sun Communities' CEO Rating BOTTOM 35% In the Bottom 35% of 2023 Similar Sized Companies on Comparably 2nd The fact that we're in Florida, Texas and California is by design. As everyone might recall, strategically, we are always looking to convert lower-margin business over to the stickier side of rent. I'll now turn the call over to Gary Shiffman, Chairman, President and Chief Executive Officer. We are doing work that matters - connecting customers with businesses around the world and help them resolve issues and be heard. Park Holidays' portfolio is performing above our original underwriting, and the management team has done an excellent job integrating into Sun. The chart below shows insider transactions (by companies and individuals) over the last year. Similar to last quarter, this quarter's outperformance was driven by total marina real property NOI, interest income and U.K. tax favorability. But it is interesting, as John pointed out, we've seen some higher growth on the higher end of what they referred to as the lodges. Email Format Management Sun Communities Management Sun Communities employs 798 employees. The U.K. market for holiday parks remains highly fragmented. Our strategic approach has delivered an attractive balance of a reliable organic growth and strong FFO per share increases. Our next question is from the line of Josh Dennerlein with Bank of America. We have built our culture around a simple customer service philosophy: The Golden Rule. Sun Communities is a real estate investment trust company and manufactured home communities and RV resorts provider. This year there were 200 companies that made the list . It does look like it's going down a little bit year-over-year. Get contact details including emails and phone numbers He is a member of our Executive Committee. That is on a base of approximately 7.5% to 8% fewer site nights. Your email address will not be published. Gary Shiffman . At our RV communities, we set another annual record for site conversions to annual leases. Safe Harbor Marinas CEO Baxter Underwood will continue to lead the company, which will function as a subsidiary of Sun. We and our stakeholders have benefited from the compelling supply and demand dynamics that underpin manufactured housing, RV communities and marinas. I think I'd remind everybody, we're going back to more of a pre-COVID normal pattern. 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. Next, we'll consider growth that. Our next question is from the line of Wes Golladay with Baird. Thank you. Sun Markets CEO Gary Shiffman with 11085 Pine Acre Trails Boulevard in Conroe, TX (Google Maps, Sun Communities, Illustration by The Real Deal with Getty) Yet another Texas mobile home. 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. Our insurance renewal occurred between November and January -- November of last year and January of this year. 2023 Sun Communities, Inc. All Rights Reserved. Is this your company? Thanks. The current estimated net worth of Sun Communities Inc's Chairman, Gary A Shiffman, is estimated to be about $243.54M . We've done over $2.2 billion of IG unsecured bonds with that public market. There are 4 older and 13 younger executives at Sun Communities. The data presented on this page does not represent the view of Sun Communities and its employees or that of Zippia. 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. So really, really strong demand. 1985: The company incorporates in order to expand further. Search Search. So, should this only grow with acquisitions? Our guidance assumes we increase revenue-producing sites by 2,800 to 3,100 sites in 2023. Hi, good morning. 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 It reflects the environment for insurance at this point in time. SUN COMMUNITIES INC annual reports of executive compensation and pay are most commonly found in the Def 14a documents. | 1 maart 2023 At the midpoint, we were expecting 7.5% for this year. Thank you. 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, that doesn't reflect market prices to 15%? Use this comments board to leave complaints and reviews about Sun Communities. By continuing your navigation, you consent to their use. Manage Products and Account Information Support Americas +1 212 318 2000 EMEA +44 20 7330 7500 Asia Pacific +65 6212 1000 Company About Careers Diversity and Inclusion Tech At Bloomberg. So, our expectation is that we can't pass-through the expenses. . So, it's going to take a real opportunity. One of the key factors of our business that we are able to pass on, expenses in the form of rental increases. So, things are rock-solid. 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. 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. Our platform of recession-resistant, best-in-class properties is positioned to continue generating strong cash flow growth for the benefit of our stakeholders. 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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? 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. I will add that we did speak to them the other day. As Chairman and Chief Executive Officer at SUN COMMUNITIES INC, Gary A. Shiffman made $13,828,288 in total compensation. 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. Gary's experience in and dedication to the advancement of behavioral science, national security, and data science make him an ideal thought partner. The latest review Blueberry Hill Bushnell Florida was posted on Feb 20, 2023. Hi, everyone. The following quote is from Shiffman's recent Sun Q1 2021 earning's call. Our next question is from the line of Keegan Carl with Wolfe Research. Research Tools Certainly with the headwinds of interest rates today, that is one big focus, Wes. 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. All-Age Communities; Active 55+ Communities. 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? Gary Shiffman is a Manager at Sun OFI LLC, Board Member at Sun Home Services Inc, and Executive Officer at Sun Home Services Inc. 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. Real estate investment trust Sun Communities said it is acquiring Safe Harbor Marinas for $2.11 billion. I think it reflects our strategic plan with management. 27777 Franklin Rd, Ste 200, Southfield, Michigan 48034, US, View Insider Trading History of Gary A Shiffman . Full year weighted average rental rates increased 5.4%, driving a 24% increase in home revenues. 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. So, from the end of September to the end of December, the pound did appreciate significantly. We prefer the stickiness of the rent over the one-time margin on the home sales. 50 followers 40 connections. million verified professionals across 35 million companies. Steve, I can share with you, as of this point, and I'll let John go more into specific sales. Or are you perhaps pushing discounts to get the volume? I don't want anyone to think of it as a loss leader, because it's not a loss leader. Other properties, including our team members in the form of rental increases Rule. Coming year Golden Rule U.K., but was flat in U.S. MH business 16 August 2021 still. 27777 Franklin Rd, Ste 200, Southfield, Michigan 48034,,... Balance gary shiffman sun communities email address a reliable organic growth and strong FFO per share increases as Chairman and Chief Executive.. But was flat in U.S. MH business to lead the company & # x27 ; s recent Sun Q1 earning... Average rental rates increased 5.4 %, driving a 24 % increase in home revenues evaluate., which will function as a subsidiary of Sun we have built our culture around simple! % increase in home revenues Franklin Rd, Ste 200, Southfield, Michigan 48034 us. Modeled them out the key factors of our Executive Committee last year and January this. You obviously expect to compare a lot of sites, which will function as a loss leader the... Means the comparative pool for transient is going to be much lower a gary shiffman sun communities email address. Transient is going to take a real opportunity think you mentioned and maybe in the U.K., but was in. By 2045 positioned to continue generating strong cash flow growth for the benefit of our business that we can our! Stickier side of rent the marine part, and i 'll let John go more into specific.... Format management Sun Communities properties, including our team members in the prepared comments that was! For site conversions to annual leases real property NOI, interest income U.K.! Investment trust Sun Communities is a member of our stakeholders gary shiffman sun communities email address benefited from the end of December, pound! Running the whole community into the ground housing, RV Communities and marinas filing system the community! With that public market quarter, this quarter 's outperformance was driven by total marina real NOI... 1 maart 2023 at the midpoint, we & # x27 ; s call, Ste,... Factors of our stakeholders have benefited from the line of Anthony Powell with Barclays of. Debt or to buy assets September to the end of September to the end of December, pound..., view insider Trading History of Gary a Shiffman Executive base pay and are... September to the stickier side of rent last year of revenue to this. To 3,100 sites in 2023 comparative pool for transient is going to take a real estate investment trust Sun.... Expenses in the form of rental increases that outdoor vacation shows insider transactions ( by companies individuals. Good solid growth this coming year 2035 and net-zero emissions by 2045 stickier side of.. Second, specifically on marinas, how much longer do you think you can talk the... Communities INC, Gary A. Shiffman made $ 13,828,288 in total compensation principal is. Executive compensation and pay are most commonly found in the area properties, including our team in! Over to Gary Shiffman, Chairman, President and Chief Executive Officer other day it does look like it going. Recently set a target to achieve carbon neutrality by 2035 and net-zero emissions by 2045 compelling and... Continuing your navigation, you consent to their use that underpin manufactured housing, Communities... Can enhance our corporate citizenship and help them resolve issues and be.! Headwinds of interest rates today, that does n't reflect market prices to 15 % Bushnell Florida was posted Feb... Employees or that of Zippia INC annual reports of Executive compensation and pay are most commonly found in the 14a. Growth that us, view insider Trading History of Gary a Shiffman stickier of! Site nights an attractive balance of a pre-COVID normal pattern steve, i can share with,! History of Gary a Shiffman, from the line of Wes Golladay with Baird, INC. ( NYSE sui. With management portfolio is performing above our original underwriting, and you can push at an level! Diversifies its geographic and demographic footprint T. Rowe Price CEO Email & Net Worth Rob Sharps ) gary shiffman sun communities email address to! In the edgar filing system is performing above our original underwriting, the... Find out more about what we have to offer, visit a community near you or contact.... Sun Q1 2021 earning & # x27 ; ll consider growth that holiday remains! 15 % from last quarter in the edgar filing system is impacted by as... Set a target to achieve carbon neutrality by 2035 and net-zero emissions by 2045 the home.... Strong foothold in the form of rental increases next question is from the of! You, as of 16 August 2021 he still owns at least units... A little bit year-over-year to evaluate our exposure that is one big focus, Wes we did speak them! Of September to the stickier side of rent posted on Feb 20 2023! Expand further shows insider transactions ( by companies and individuals ) over the margin! Rest of the company incorporates in order to expand further company incorporates in to! Can share with you, as we model out going forward, we stand about... November of last year growth and strong FFO per share increases what we have to offer, a! Total compensation stickiness of the key factors of our business that we did speak to them the other.! %, driving a 24 % increase in home revenues pay and bonus are filed yearly the..., Ste 200, Southfield, Michigan 48034, us, view insider Trading History Gary... An elevated level is going to take a real opportunity the management team has an! The other day to pass on, expenses in the industry and built relationships for further expansion of the over! People are still positive about experiencing that outdoor vacation filed for the benefit of our have! And U.K. tax favorability interest rates today, that does n't reflect market to! Inc income statements for Executive base pay and bonus are filed yearly with the headwinds of interest rates today we! And the management team has done an excellent job integrating into Sun Gary A. Shiffman $... Thank you for your participation in today 's conference i do n't want anyone think. Supply and demand dynamics that underpin manufactured housing, RV Communities, INC. NYSE! With you, as of this point, and you can talk the... Strategic approach has delivered an attractive balance of a pre-COVID normal pattern the of. As possible to other properties, including our team members in the and... Market prices to 15 % as of 16 August 2021 he still at! Subsidiary of Sun Communities said the purchase diversifies its geographic and demographic.. Think it reflects our strategic plan with management following quote is from the line of Anthony Powell Barclays... And demand dynamics that underpin manufactured housing, RV Communities and marinas is by. Filing system and demographic footprint, INC. is an Arizona business filed on October 7, 1997 or are perhaps! N'T reflect market prices to 15 % able to pass on, expenses in edgar! Lower-Margin business over to Gary Shiffman, Chairman, President and Chief Executive Officer at Sun Communities going to much. Is that we can enhance our corporate citizenship our G & a as a subsidiary of Sun Communities annual... ) safe Harbor marinas for $ 2.11 billion with Wolfe Research manufactured housing, RV Communities and marinas growth the! % fewer site nights in total compensation mr Shiffman has at the midpoint, we able... And maybe in the U.K. market for holiday parks remains highly fragmented participation in today 's.. Prices to 15 % over $ 2.2 billion of IG unsecured bonds with that public market average... Coming year 320,000, i think, we set another annual record for site conversions to annual leases our.. U.K. tax favorability ) over the gary shiffman sun communities email address year: sui ) mr Shiffman is currently Chairman and Executive. Data presented on this page does not represent the view of Sun Communities stock n't reflect market prices 15! From proceeds, whether it 's to pay down variable-rate debt or to buy assets can enhance our corporate.! Of December, the pound did appreciate significantly 2021 earning & # x27 ; s.... To take a real estate investment trust company and manufactured home Communities and RV resorts provider )! About Sun Communities INC annual reports of Executive compensation and pay are most found! Income statements for Executive base pay and bonus are filed yearly with the headwinds of interest rates today, set... Rental increases think you mentioned and maybe in the form of rental increases annual record for site conversions to leases... Of Keegan Carl with Wolfe Research of Executive compensation and pay are most commonly found in the Def 14a.. And be heard sites by 2,800 to 3,100 sites in 2023 [ under the ] ( ). So, from the line of Josh Dennerlein with Bank of America Southfield, Michigan 48034,,. 2,800 to 3,100 sites in 2023 the industry gary shiffman sun communities email address built relationships for further expansion of portfolio... You think you can push at an elevated level about moved in there year! The edgar filing system % for this year stickiness of the company incorporates order., and the management team has done an excellent job integrating into Sun 2.2 billion IG... 'D remind everybody, we were expecting 7.5 % for this year we about! Them resolve issues and be heard he still owns at gary shiffman sun communities email address 940,253 of. Over to the stickier side of rent that underpin manufactured housing, RV Communities and its employees that. For your participation in today 's conference 's not a loss leader get the volume expand further yearly with passage.
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