This creates a very sticky customer base and gives us the ability to grow rents. Thanks. Gary Shiffman is a Manager at Sun OFI LLC, Board Member at Sun Home Services Inc, and Executive Officer at Sun Home Services Inc. First, how much pushback do you guys get on rate increases across your segments given the elevated increases? We believe our guidance reflects the current interest rate outlook at the time of this call and is informed by forward interest rate curves as of the time of providing our guidance. The marinas, currently owned and operated by Dallas-based Safe Harbor Marinas, include locations in [] And a Car. Gary Shiffman About Us; Blog; Press; AFLCIO.tv; Union Plus Benefits; Toggle Search Form. Sun Communities, Inc is the nation's premier provider of manufactured home communities and RV resorts. 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. 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? I will now turn the call over to John and Fernando to speak to our results and guidance in detail. 27777 Franklin Rd, Ste 200, Southfield, Michigan 48034, US, View Okay. Job well done. 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. That's a result of adding sites to the portfolio through expansion. No materials from this website may be copied, reproduced, republished, uploaded, posted, transmitted, or distributed in any way. Gary Shiffman bought 364.42k shares over the last 12 months at an average price of US$195. The following quote is from Shiffman's recent Sun Q1 2021 earning's call. View more questions & answers Overview of Sun Communities complaint handling Because you obviously expect to compare a lot of sites, which means the comparative pool for transient is going to be much lower. The CEO of Sun Communities, Inc. ( NYSE:SUI) is Gary Shiffman. We are actively and programmatically working on a number of strategies to continue to reduce our exposure to variable-rate debt. Through his hard work and dedication, he has been leading the real estate market in America. Gary A. Shiffman serves as Chairman of the Board of the Company. . He is a member of our Executive Committee. And really, that's -- I think that sort of everybody is, for lack of better words, the beneficiary of those events happening in the form of higher costs. Our platform of recession-resistant, best-in-class properties is positioned to continue generating strong cash flow growth for the benefit of our stakeholders. 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. You can write to [emailprotected] to connect with the real estate investment firms CEO. 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. 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. Affiliated Unions; Executive Council . No credit card required. 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. And so, on the second -- my second question is how are the forward bookings trending for holiday sales -- holiday rentals in the U.K.? On the U.K. side, we're seeing enormous strength on the higher end of home buying, the more expensive homes increasing. The chart below shows insider transactions (by companies and individuals) over the last year. And then, my second question is just on the flow-through of the NOI growth. Gary Shiffman . And on the lease termination, we did mention in my remarks, we did rationalize some space in our main office and got out of two floors in our offices here in Southfield. He has worked as Chairman/President/CEO at SUN COMMUNITIES INC, Board Member at SUN COMMUNITIES INC, and Chairman at Bingham Financial Services Corporation. Got it. The outperformance is due to higher demand for wet slips and dry storage spaces. So, we're not running to shed assets, but we are reviewing them very, very carefully as to growth. Image source: The Motley Fool. free lookups / month. I will add that we did speak to them the other day. Out of their 1 competitor, Aspen Heights, Sun Communities' score . 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. They definitely came in looking pretty strong, so just a few questions. Thank you. Please. With the passage of time, he has built a strong foothold in the industry and built relationships for further expansion of the company. (Podcast), Chairman/President/CEO, Sun Communities Inc. We anticipate investing roughly $200 million in our ground-up development and expansion activity. How to write a complaint about Sun Communities? Join to view profile . Gary's experience in and dedication to the advancement of behavioral science, national security, and data science make him an ideal thought partner. GARY A. SHIFFMAN, agent; GARY SHIFFMAN, director; JOHN B MCLAREN, president; KAREN J DEARING, treasurer; KAREN J DEARING, secretary At this time, management would like me to inform you that certain statements made during this call, which are not historical facts, may be deemed forward-looking statements within the meanings of the Private Securities Litigation Reform Act of 1995. Hey, Steve, I think we've been pretty programmatic since achieving our investment-grade rating in the summer of 2021. Thank you. 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 there are no further questions at this time, I would like to turn the floor back over to Gary Shiffman for closing comments. 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. Throughout 2022, we continue to focus on corporate expense rationalization, including process efficiencies and reducing our office 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 Services Corp. It brings us industry-leading occupancy growth like the record 2,900 sites we gained over the course of 2022. On average, Sun Communities executives and independent directors trade stock every 50 days with the average trade being worth of $2,616,388. 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. Follow Bloomberg reporters as they uncover some of the biggest financial crimes of the modern era. Reason #3 to Attend: Discover. 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. But certainly, looking to actively manage our exposure to floating-rate debt. Our strategic approach has delivered an attractive balance of a reliable organic growth and strong FFO per share increases. Lastly, our Board has raised our 2023 distribution to $3.72 per share, a 5.7% increase from the prior year. Up to 5 So, from the end of September to the end of December, the pound did appreciate significantly. And you bring it up, and we happen to be talking about it not that long ago, but the fact of the matter is there's 22 million people in Florida. We continue to deliver long-term cash flow stability. Musks TeslaMaster Plan Lacks Drive. Yes. So, ex that drag, is the expense growth 6% to 7% and matching kind of like the top-line growth? Yes. 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 Sun Communities, inc ( SUI -0.28%) Q2 2021 Earnings Call. Denso International America, Inc. Executives, Miami International Holdings Jobs Near Me, International Automotive Components Group North America, Inc. Jobs Near Me, Great Expressions Dental Centers Jobs Near Me, Assistant Community Manager jobs at Sun Communities, Maintenance Supervisor jobs at Sun Communities, Sales Coordinator jobs at Sun Communities, Assistant General Manager jobs at Sun Communities, Mobile Applications Developer jobs at Sun Communities, Regional Sales Vice President jobs at Sun Communities, Restaurant Server jobs at Sun Communities. Those would be the primary reasons from that perspective. 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. Thank you. But it's a big advantage to paying the profits that other boat owners would have to pay elsewhere. His association with Sun Communities goes back to its inception. No credit card required. So, you can -- right, it would on a like-for-like basis would be much higher than that 1%. Please go ahead. 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. 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. The company invests in manufactured housing communities, recreational vehicle resorts, and marinas. 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. The U.K. market for holiday parks remains highly fragmented. This year marks Sun's 30th year as a public company. Hey, guys. And Fernando to speak to our results and guidance in detail last 12 months at an average price of $! Communities Inc. we anticipate investing roughly $ 200 million in our ground-up development and expansion activity individuals... Bingham Financial Services Corporation side, we 're seeing enormous strength on flow-through. 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