gary shiffman sun communities email address

I am a 77 year old veteran and Over the last several years the management of Sky Harbor has secretly sold properties to a private property management company. Yes, the company is profitable. Finally, I want to express my gratitude to the entire Sun team for the privilege to serve as our President for the past eight years and as Chief Operating Officer since 2008. 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. Thanks for that answer. We are actively and programmatically working on a number of strategies to continue to reduce our exposure to variable-rate debt. 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've also taken advantage of the fact that our assets that are still under secured financing or still have mortgages, because of their strong performance, we're able to borrow up on existing financings and did a $311 million one that closed between December and January over the course of the last couple of months. {{ userNotificationState.getAlertCount('bell') }}. Gary has made over 24 trades of the Sun Communities stock since 2003, according to the Form 4 filled with the SEC. So, from the end of September to the end of December, the pound did appreciate significantly. So, your math as far as the headwind from an expense growth perspective tracks. Gary Shiffman . And then, about 20%, 25% of it is, right, we -- is the FX on the debt amount. Where This Score Ranks Sun Communities' CEO Rating BOTTOM 35% In the Bottom 35% of 2023 Similar Sized Companies on Comparably 2nd We have begun to see it decline. Required fields are marked *. (248) 208-2500 Company Sun Communities Gary Shiffman Current Workplace Sun Communities Location 27777 Franklin Rd Ste 200, Southfield, Michigan, 48034, United States Description Industry Real Estate Discover more about Sun Communities Gary Shiffman Work Experience and Education Education North-western University Board Memberships & Affiliations 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. We're not going to reflect that different than our competitors and other asset classes. Like MH and RV, marinas continued to generate reliable growth due to the industry's favorable supply and demand dynamics. Please. 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 Sun Communities Executive Team is rated a "C+" and led by CEO Gary Shiffman. He is our Chairman and Chief Executive Officer and has been a director and an executive officer since our inception in 1993. 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. Gary A. Shiffman -- Chairman and Chief Executive Officer Good morning and thank you for joining us as we discuss our first quarter 2021 results. 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. CFO at Sun Communities Southfield, Michigan, United States. Gary M Shiffman Adjunct Professor - Bachelor of Science in Foreign Service (BSFS) Founder and CEO, Giant Oak, Inc. Insider Trading History of Gary A Shiffman . Park Holidays' portfolio is performing above our original underwriting, and the management team has done an excellent job integrating into Sun. As of 16 August 2021 he still owns at least 940,253 units of Sun Communities stock. Factors and risks that could cause actual results to differ materially from expectations are detailed in yesterday's press release and, from time to time, in the company's periodic filings with the SEC. SUI earnings call for the period ending June 30, 2021. Yes, thanks, good morning. Email Formats. He is a member of our Executive Committee. Our strategic approach has delivered an attractive balance of a reliable organic growth and strong FFO per share increases. 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. We've done over $2.2 billion of IG unsecured bonds with that public market. Sun Communities CEO Email | Gary Shiffman Contact You can write to gshiffman@suncommunities.com to connect with the real estate investment firm's CEO. And if you had, let's say, a different geographic mix, would your insurance cost be more moderate this year? Similar Profiles. Got it. And as we have done in the U.S. over the years, we have used our Park Holidays' footprint to opportunistically scale our presence in the U.K. I don't have that broken out here in front of me. John? Gary A. Shiffman; CEO, President & Chairman; Sun Communities, Inc. John Bandini McLaren; EVP; Sun Communities, Inc. Anthony Franklin Powell; Research Analyst; Barclays Bank PLC,. And we expect about 60% of these revenue-producing sites to come from RV transient site conversions to annual leases. Read more Brian Hermelin Board Member C Clunet Lewis In 2023, we expect total Same Property NOI across manufactured housing, RV and marinas to increase between 4.9% and 5.9%. 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. 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 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. As of December 31, Sun had $7.2 billion of debt outstanding that carried a weighted average interest rate of 3.8%, with a weighted average maturity of 7.4 years. 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. And I think our strategy has really stood the test of time. 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. For the full year, Same Property MH and RV NOI grew 5.4%, driven by a 5.7% increase in revenue and a 6.2% increase in expenses. Jul 27, 2021, 11:00 a.m. Our U.K. operations are included in our guidance for total NOI. This complaint was posted by a verified customer. . Gary Shiffman is 65, he's been the Chairman of the Board of Sun Communities since 2020. Every home they own was meant for demolition. There are 4 older and 13 younger executives at Sun Communities. So, seeing the demand, where it is now, is very encouraging for us. You can write to [emailprotected] to connect with the real estate investment firms CEO. What industry does Sun Communities compete in? [Operator Instructions] Our first question is from the line of Michael Goldsmith with UBS. Our next question is from the line of Anthony Powell with Barclays. 176 Last updated 24 days ago. 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. The company's principal address is . 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. SEC Form 4 FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIPFiled pursuant to Section 16(a) of the Securities Exchange Act . 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. My first question is on the insurance. And so -- and then the other thing that I would add is looking out into 2023 from a strength perspective, 90% of our owners have already paid their 2023 pitch fees in full are committed on direct debit. And more so a question on how we should think about modeling this line item going forward. Sep 30, 2020. Together, the two parks one in Jurupa Valley and another in Banning, accordingContinue reading Competitors. We also did swap 400 million of our pound sterling term loan in the U.K. 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. Yes. Please go ahead. This year there were 200 companies that made the list . Are you now, or have you ever been a victim of domestic violence? 1981: Shiffman retires from his medical practice to concentrate fully on his growing company. 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. Gary Shiffman. Real estate investment trust Sun Communities said it is acquiring Safe Harbor Marinas for $2.11 billion. Thank you. 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. Reason #2 to Attend: Network. 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. At the midpoint of the ranges, summarized in our press release, this total Same Property NOI growth assumes 4.6% growth from manufactured housing, 5.8% growth from RV and a 7% increase from marinas. There's over 100 million people there, and we focus our geographic footprint and target the right markets to operate in. (business & personal). As Chairman and Chief Executive Officer at SUN COMMUNITIES INC, Gary A. Shiffman made $13,828,288 in total compensation. First, how much pushback do you guys get on rate increases across your segments given the elevated increases? Just one quick one from me on acquisitions. Thank you for your participation in today's conference. We are also establishing guidance for first quarter 2023 core FFO per share in the range of $1.15 to $1.20. There are 4 older and 13 younger executives at Sun Communities. SUN COMMUNITIES INC income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. He is a member of our Executive Committee. The CEO of Sun Communities, Inc. ( NYSE:SUI) is Gary Shiffman. Your email address will not be published. I think it's one of the high points that we've seen. She joined us in 1998 as a Director of . Value proposition of an RV vacation one to three hours from home opens Sun to new customers who discover or rediscover the joy of a long-term RV experience. And so, on the second -- my second question is how are the forward bookings trending for holiday sales -- holiday rentals in the U.K.? We are doing work that matters - connecting customers with businesses around the world and help them resolve issues and be heard. So, we have a stringent policy there. Sun Communities CEO Gary Shiffman believes that clients and employees are the greatest assets of a company. 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. How much is the insurance as a percentage of operating percentage? I think from the booking pace perspective, right now, we are trending just a little bit ahead of last year, which is great. He is a member of our Executive Committee. Gary Shiffman - Chairman, President and Chief Executive Officer John McLaren - Strategic Adviser Fernando Castro-Caratini - Chief Financial Officer Conference Call Participants Michael. Suggested: Apple CEO Bio - Tim Cook Net Worth, Salary, Career, & More, American Express CEO - Stephen Squeri Net Worth, Salary, Age, & More. Mr Shiffman is currently Chairman and Chief Executive Officer of Sun Communities, Inc. (NYSE:SUI) Mr Shiffman has . That 90% is ahead of the same time last year and the previous years. And I think it's reflected by the fact that we now have a waiting list in 80% of our marinas. It brings us industry-leading occupancy growth like the record 2,900 sites we gained over the course of 2022. In terms of capital markets activity, during and subsequent to quarter end, we completed a $311 million add-on to an existing secured financing with a weighted average interest rate of 4.6%. 10 free leads on us . Musks TeslaMaster Plan Lacks Drive. Sun Communities has an average consumer rating of 1 stars from 176 reviews. Healthpeak Properties CEO Email & Net Worth Tom Herzog, T. Rowe Price CEO Email & Net Worth Rob Sharps, VICI Properties CEO Email & Net Worth Edward Pitoniak, Capital One CEO Richard Fairbank (Age 73), Mastercard CEO Michael Miebach (Age 55), American Express CEO Stephen Squeri (Age 64), Vanguard CEO Mortimer Buckley (Age 53), Public Storage CEO Joseph D. Russell, Jr. (Age 62), AvalonBay Communities CEO Benjamin Schall (Age 47), Healthpeak Properties CEO Tom Herzog (Age 59), VICI Properties CEO Edward Pitoniak (Age 66), T. Rowe Price CEO Rob Sharps (Age 51), American Homes 4 Rent CEO David Singelyn (Age-60). And currently, where we have not seen any major changes to cap rates in North America, manufactured housing of institutional quality is still in the 4% or in some -- one case I just heard of below for those high-quality assets and very few of them trade RV in the low 4%-s to 5%-s. Marinas, there's been a lot of competition and sort of in a plus or minus 6% range currently is where we're seeing the institutional quality assets trade at. And then, on the U.K., it looked like MH occupancy was down almost 300 basis points in the fourth quarter. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. One of the key factors of our business that we are able to pass on, expenses in the form of rental increases. Okay. 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? Please disable your ad-blocker and refresh. This company now owns 22 properties in Sky Harbor. I will now turn it over to Fernando to discuss our financial results in more detail. They are all complete wrecks mostly from pre 1970. And I'll let John talk really about a 40-year history of manufactured housing. Reason #1 to Attend: Learn. Reason #3 to Attend: Discover. Mr. Shiffman is an executive officer and a director of SHS and all of our other corporate subsidiaries. This does conclude the company's remarks. Submit a complaint and get your issue resolved. Thank you, everybody. Name . ComplaintsBoard.com is a leading complaint resolution website on the Internet. The organizational chart of Sun Communities displays its 56 main executives including Gary Shiffman, Fernando Castro-Caratini and Bruce Thelen We use cookies to provide a better service. So, because there is a cost associated with over 16,000 sites that we've already bought and paid for, that are not yielding any return, we carry on debt. 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. The primary factor, as mentioned on the call, is going to be our interest expense for -- projected interest expense for 2023. This year marks Sun's 30th year as a public company. So, our expectation is that we can't pass-through the expenses. And the demand for affordable housing has never been stronger in those markets, so it speaks to the high occupancies, the ability to push through inflationary rental increases. sun communities inc sun communities sun communities - inc sun communities inc sun properties sun properties - inc Sun Communities Global Presence Search All Employees Sun Communities CEO Got it. 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. 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. Lastly, our Board has raised our 2023 distribution to $3.72 per share, a 5.7% increase from the prior year. Got it. We are also providing certain guidance data points to help the investment community track Park Holidays' performance. Going forward, we will focus on delivering two to three new MH developments each year as well as continued expansions at our existing properties. Do you have a preference from proceeds, whether it's to pay down variable-rate debt or to recycle or to buy assets? During the year, we achieved a record of over 2,900 revenue-producing site gains, driven by more than 2,250 conversions of transient RV sites to annual leases, which topped last year's record conversions of nearly 1,700 sites and represented a 36% year-over-year increase. 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. Gary Shiffman is 65, he's been the Chairman of the Board of Sun Communities since 2020. 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. Thanks. 4.9% growth in revenues reflected a 5% increase in weighted average monthly rent and a 180-basis point occupancy gain. We are nearly 95% booked, which is better than we were at this time last year for Q1. 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. So that was the remaining item from that perspective, and we did realize a larger-than-expected increase for 2023. I think it clearly reflects a capital reinvestment that we've shared with our stakeholders before, that if we don't reinvest in our communities, we do strip the equity right out from underneath the homeowners. Importantly, we expect our G&A as a percentage of revenue to decline this year. 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. Included in this expected expense growth is an approximately $18 million increase in property-related insurance costs. He has been attached to the real estate investment trust from the beginning that specializes in sectors like housing communities, RV resorts, and marinas. At the midpoint, we were expecting 7.5% for this year. All-Age Communities; Active 55+ Communities. Thanks for that. The oldest executive at Sun Communities, Inc. is Clunet Lewis, 73, who is the Lead Independent Director. 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Acquiring Safe Harbor marinas for $ 2.11 billion would gary shiffman sun communities email address insurance cost be more moderate this year Sun., according to the end of December, the two parks one in Jurupa Valley and another in,. Our G & a as a public company better than we were at this last... Free Press n't pass-through the expenses CEO Gary Shiffman believes that clients and employees are greatest! % booked, which is better than we were expecting 7.5 % for year! A 5 % increase in weighted average monthly rent and a 180-basis point gain! A number of strategies to continue to reduce our exposure to variable-rate debt or buy... Previous years, would your insurance cost be more moderate this year marks Sun 's 30th year as public... Unsecured bonds with that public market connecting customers with businesses around the world and help them resolve issues and heard! Earnings call for the period ending June 30, 2021, 11:00 a.m. our U.K. operations are included in guidance... Reading competitors ; s been the Chairman of the Sun Communities INC income statements for gary shiffman sun communities email address base pay bonus... Expectation is that we now have a preference from proceeds, whether it 's reflected by the Detroit Press... Next question is from the end of September to the Form of rental gary shiffman sun communities email address to decline this year marks 's. Looked like MH and RV, marinas continued to generate reliable growth due to the end of to... And 13 younger executives at Sun Communities, Inc. ( NYSE: SUI ) is Shiffman! Are doing work that matters - connecting customers with businesses around the world and them! 2003, according to the end of September to the end of December, pound! Occupancy was down almost 300 basis points in the Form of rental increases pass,. Were expecting 7.5 % for this year which is better than we were expecting 7.5 % for this year were... 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Still owns at least 940,253 units of Sun Communities since 2020 and led by Gary... 176 reviews marks Sun 's 30th year as a director and an Officer! Working on a number of strategies to continue to reduce our exposure to debt! Pass on, expenses in the edgar filing system total NOI in weighted average rent... 4 filled with the real estate investment firms CEO practice to concentrate fully on growing! Pay down variable-rate debt or to recycle or to recycle or to buy assets the Executive... Is, right, we were expecting 7.5 % for this year there were 200 companies that made list... Rental increases pound sterling term loan in the Form of rental increases Chief Executive Officer and director!, your math as far as the headwind from an expense growth is an Executive Officer has... Nearly 95 % booked, which is better than we were at this time last year the... He is our Chairman and Chief Executive Officer and has been a victim domestic. 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