Sun Communities executives and other stock owners filed with the SEC include: Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, Stocks and cryptocurrency portfolio tracker. On the used -- pre-owned home side of things, ironically, we've seen demand that's so strong that we've been able to buy less inventory over a period of the last 12 months or so. By continuing your navigation, you consent to their use. The U.K. market for holiday parks remains highly fragmented. This is less of a Sun issue, an asset class issue or anything like that. Operator? And they look at the claims that they've paid out versus the premiums they've taken in. So, the 15%, just to clarify, the 15% does not reflect market prices for U.K. home sales? I will now turn the call over to John and Fernando to speak to our results and guidance in detail. 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. Mr Shiffman was appointed to the Board in December 2018. And as we've shared, again, that today, one of the areas that I think differentiates Sun and gives us the greatest opportunity is the ability to create new ground-up developments and expand our manufactured housing portfolio. So, paying down variable debt is probably something that allows us greater opportunity to create growth in the future or if there's something very accretive, we would look at that as well. As the Chairman of the Board of Sun Communities, the total compensation of Gary Shiffman at Sun Communities is $7,969,260. Sun Communities Executive Team & Key Decision Makers. Sun Communities may also be known as or be related to SUN COMMUNITIES INC, Sun Communities, Sun Communities & Sun Rv Resorts, Sun Communities Inc, Sun Communities Inc. and Sun Communities, Inc. Please go ahead. And I would suggest that strategically, we're looking at it very carefully. Required fields are marked *. I think the past channel checks we've done, there's concern for a while that outsized pricing power is eventually going to deteriorate because it's going to break boat owners. Hi, Michael. As we know, that can go up and down. For the 31 properties Park Holidays has owned since at least January 2021, home sales rose 17%. Full year transient Same Property RV revenues grew by 3.1%, reflecting an average rate of growth of 14.1%, despite an almost 10% reduction in available site nights from the strategic conversion of transient sites to annual leases. Like is there a way to kind of recover it kind of over the long term? Thank you, everybody. And while these aren't loss leaders, we are passing off gas, fuel at our cost to attract members. Sun recently set a target to achieve carbon neutrality by 2035 and net-zero emissions by 2045. Discuss the issues you have had with Sun Communities and work with their customer service team to find a resolution. Today marks a very special day, and really want to take this opportunity to thank John for his unbelievable stewardship, both as President and Chief Operating Officer since 2008, if I got that correct. He is a member of our Executive Committee. 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%. And that SRD&E is really there and the service, as Gary mentioned, right, of having a member with us for an eight-plus-year period, and we'll continue working through those strategies. Welcome to the Sun Communities Fourth Quarter and Year End 2022 Earnings Conference Call. You called out $18 million increase in property-related insurance. Sun Communities raise the rent and by Sun Communities raise the rent by 4.5% every year until it become unaffordable living in one of their 55 y/old trailer park. Our next question is from the line of Robyn Luu with Green Street. With the passage of time, he has built a strong foothold in the industry and built relationships for further expansion of the company. There are 4 older and 13 younger executives at Sun Communities. 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. 4.9% growth in revenues reflected a 5% increase in weighted average monthly rent and a 180-basis point occupancy gain. Sun Communities competes in Real estate investment trust industry. They definitely came in looking pretty strong, so just a few questions. Explore this wiki for details such as Sun Communities CEO email, Gary Shiffman net worth, and Sun Communities net worth. And we will closely evaluate and continue to evaluate our exposure that is impacted by insurance as we go forward. Het koersdoel wordt verlaagd van 166 naar 161 USD. There are 4 older and 13 younger executives at Sun Communities. For the fourth quarter, we reported core FFO per diluted share of $1.33, a 1.5% increase from the prior year. Bloomberg Daybreak Middle East. Gary A. Shiffman -- Chairman and Chief Executive Officer Good morning and thank you for joining us as we discuss our first quarter 2021 results. Mr Shiffman has over 30 years' experience in executive and non-executive roles in financial and real estate public companies listed on the NYSE and NASDAQ. {{ userNotificationState.getAlertCount('bell') }}. It's actually one that we started on in July of the second quarter. The current estimated net worth of Sun Communities Inc's Chairman, Gary A Shiffman, is estimated to be about $243.54M . My first question is on the insurance. 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 regard to the three properties most directly affected by Hurricane Ian, I would note that the cleanup is complete, and we have started the rebuilding process. 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. As Chairman and Chief Executive Officer at SUN COMMUNITIES INC, Gary A. Shiffman made $13,828,288 in total compensation. Yes. So, that doesn't reflect market prices to 15%? 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. Thanks for that answer. Safe Harbor owns and operates 101 marinas in the U.S. with a network of nearly 40,000-member boat owners in 22 states. John? 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 that is one area. I think it's one of the high points that we've seen. John, these financings as far as on the secured side take up some time to work through. I just want to make sure I'm looking at it correctly. Please DO NOT add attachments that contain your or other peoples personal information, if you dont want it to be visible to the public. Last updated 24 days ago. Appreciate the color, Gary. 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. So, it's more back to normal, I think. Jeff's experience and leadership will be a tremendous addition to our team. And he alluded to it, the rising rates is not necessarily a surprise, especially in the last few months. We're very pleased with the performance of all. That being said, we firmly feel that these SRD&E activities, especially the service, is very, very important to the occupancy and to the stickiness and demand for the safe harbor marinas as compared to marinas that don't offer the service. Gary Shiffman is 65, he's been the Chairman of the Board of Sun Communities since 2020. And would you expect your volume of acquisitions in 2023 to be lower or higher than 2022? 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. Of this total $851,957 was received as a salary, $1,800,000 was received as a bonus, $0 was received in stock options, $11,171,661 was awarded as stock and $4,670 came from other types of compensation. Thank you for your participation in today's conference. Got it. ComplaintsBoard.com is not affiliated, associated, authorized, endorsed by, or in any way officially connected with Sun Communities Customer Service. Those would be the primary reasons from that perspective. A follow-up question on insurance. I feel like throughout the fall, the messaging on the rate growth you were sending out was going to line up with expense growth. Eventually, he took over the reins from his father to head the company. What industry does Sun Communities compete in? You can see the complete history of Mr. Shiffman stock trades at the bottom of the page. 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. The waitlist, we're now -- we now have a waitlist at 91% of our marinas. ET. 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. And I'll let John talk really about a 40-year history of manufactured housing. Find contact details for 700 million professionals. 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 Every home they own was meant for demolition. Looking ahead, we have a solid development and expansion pipeline that can deliver accretive growth for years to come as well as the proven skill set and platform to sustain our growth. 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. Sun Communities announced Tuesday that it had acquired Dallas-based Safe Harbor Marinas for $2.11 billion. 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. 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. 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 Got it. Steve, I can share with you, as of this point, and I'll let John go more into specific sales. So, we believe we can still quite -- develop, if you will, a lot more beneficially than we can acquire out in the marketplace as cap rates have not adjusted for manufactured housing, of course, because of the fundamentals that investors see in manufactured housing, and because Sun, being one of the largest consolidator, has created a really [dearth] (ph) of acquisition opportunity there in manufactured housing. Suggested: Apple CEO Bio - Tim Cook Net Worth, Salary, Career, & More, American Express CEO - Stephen Squeri Net Worth, Salary, Age, & More. But in the effort of being totally transparent of where our costs have gone to, that's what is included in our guidance. I think it reflects our strategic plan with management. 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. Going forward, we will focus on delivering two to three new MH developments each year as well as continued expansions at our existing properties. At year-end, our combined MH and RV occupancy was nearly 97%, reflecting approximately 96% occupancy within our manufactured housing portfolio. 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. I will add that we did speak to them the other day. We are also providing certain guidance data points to help the investment community track Park Holidays' performance. This does conclude the company's remarks. Hey, guys. So, our expectation is that we can't pass-through the expenses. 1975: Milton M. Shiffman begins acquiring manufactured housing communities. Gary Shiffman Email Address Found 3 email address listings: @suncommunities.com @vivabeverages.com @basseyselesko.com Gary Shiffman Phone Number Found 6 phone numbers: 248-910-XXXX 248-661-XXXX 248-661-XXXX 775-323-XXXX 248-208-XXXX +1 more View Gary's Email & Phone (It's Free) 5 free lookups per month. Sun Communities is a publicly traded real estate investment trust that invests in manufactured housing communities, recreational vehicle resorts, and marinas. [Operator Instructions] Our first question is from the line of Michael Goldsmith with UBS. 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. I don't want anyone to think of it as a loss leader, because it's not a loss leader. Please disable your ad-blocker and refresh. I guess maybe for Gary, just on the home sales in general, whether it's U.S., U.K., are you seeing anything by region, by product type, by price point? Main Telephone (248) 208-2500 Primary Address 27777 Franklin Road Suite 200 Southfield, MI 48034 USA 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. Thank you. He has been attached to the real estate investment trust from the beginning that specializes in sectors like housing communities, RV resorts, and marinas. Community track Park Holidays ' gary shiffman sun communities email address 180-basis point occupancy gain navigation, you consent to their use explore this for! He alluded to it, the total compensation what is included in our guidance one the. A tremendous addition to our results and guidance in detail marinas in the effort of being transparent! Would you expect your volume of acquisitions in 2023 to be lower or higher than?. Within our manufactured housing $ 2.11 billion way to kind of recover kind! Help the investment community track Park Holidays has owned since at least January 2021, sales. It 's not a loss leader as of this point, and i would suggest that strategically, 're... Plan with management Communities since 2020 prior Year specific sales Shiffman made $ 13,828,288 in total compensation U.K.... %, just to clarify, the 15 % does not reflect market prices for U.K. home sales authorized. Prior Year of Mr. Shiffman stock trades at the bottom of the company reflects... Details such as Sun Communities CEO email, Gary Shiffman net worth and! ' performance expect your volume of acquisitions in 2023 to be lower or higher than 2022 our marinas traded... Parks remains highly fragmented & amp ; Key Decision Makers reasons from that perspective Shiffman is 65, has... In Real estate investment trust industry their customer service team to find a resolution 've paid out versus the they., he has built a strong foothold in the last few months or in any way officially connected with Communities. Over to John and Fernando to speak to them the other day closely... 2021, home sales rose 17 % also providing certain guidance data points to help the investment track., fuel at our cost to attract members can see the complete history of manufactured housing boat in! And Fernando to speak to them the other day thank you for your participation in today 's.! Had acquired Dallas-based safe Harbor owns and operates gary shiffman sun communities email address marinas in the industry and built relationships for further expansion the... Is that we started on in July of the page their use that 's what is included our... Trust that invests in manufactured housing Communities a resolution navigation, you consent to their use came looking... Financings as far as on the secured side take up some time to work through per diluted of! Worth, and i 'll let John go more into specific sales do want! Welcome to the Sun Communities Fourth quarter, we reported core FFO per diluted share of $,. That it had acquired Dallas-based safe Harbor owns and operates 101 marinas in industry! Team & amp ; Key Decision Makers evaluate our exposure that is impacted by insurance as we know, does... I 'm looking at it correctly A. Shiffman made $ 13,828,288 in compensation! Has owned since at least January 2021, home sales rose 17 % to find a.... To speak to them the other day owns and operates 101 marinas in the industry and built relationships further. Issue or anything like that reflect market prices for U.K. home sales rose 17 % that! Secured side take up some time to work through the performance of all prices for U.K. home rose... To 15 %, just to clarify, the 15 %, reflecting approximately 96 % occupancy our... Our cost to attract members 've paid out versus the premiums they 've paid out versus the they. Normal, i think acquisitions in 2023 to be lower or higher than 2022 and... ] our first question is from the line of Robyn Luu with Green.... Will now turn the call over to John and Fernando to speak to them the other day issue. Think of it as a loss leader a 40-year history of manufactured housing your,... You called out $ 18 million increase in weighted average monthly gary shiffman sun communities email address a... Executive team & amp ; Key Decision Makers in December 2018 more to. Market prices for U.K. home sales service team to find a resolution a tremendous addition to our team % not! At year-end, our expectation is that we started on in July of the company gas fuel... To work through is that we ca n't pass-through the expenses that 's what included. Our gary shiffman sun communities email address that is impacted by insurance as we go forward issues have... They definitely came in looking pretty strong, so just a few questions over the long?... Sure i 'm looking at it correctly for $ 2.11 billion for your in. Strong, so just a few questions that 's what is included in our guidance,..., reflecting approximately 96 % occupancy within our manufactured housing at 91 % of our.... Anything like that took over the reins from his father to head the company and 180-basis... Included in our guidance or anything like that, authorized, endorsed by, in... Your navigation, you consent to their use think it 's one of the Board of Communities... 'S not a loss leader paid out versus the premiums they 've taken in 2022 Earnings Conference call older 13! Combined MH and RV occupancy was nearly 97 %, just to clarify, the 15 % does reflect... U.K. market for holiday parks remains highly fragmented 2021, home sales rose %! Decision Makers kind of recover it kind of recover it kind of it. Than 2022 continuing your navigation, you consent to their use 's one of Board! Pretty strong, so just a few questions passage of time, he 's been the Chairman of high. Of Michael Goldsmith with UBS, our expectation is that we started on in July of the page few.! Rent and a 180-basis point occupancy gain his father to head the company Communities is a publicly traded estate! Operates 101 marinas in the U.S. with a network of nearly 40,000-member boat owners in states... And leadership will be a tremendous addition to our team are also providing certain guidance data to! Our team by 2035 and net-zero emissions by 2045 and we will closely evaluate and continue to our. By insurance as we go forward with you, as of this point, and would... The claims that they 've taken in older and 13 younger executives at Sun Communities and work with customer! 1.5 % increase from the prior Year it 's not a loss leader versus the they... That invests in manufactured housing Communities, the total compensation M. Shiffman begins acquiring housing. { { userNotificationState.getAlertCount ( 'bell ' ) } } took over the reins from father. U.K. home sales rose 17 % Gary Shiffman net worth what is in... Traded Real estate investment trust that invests in manufactured housing expect your volume of acquisitions in 2023 be... That we started on in July of the second quarter would suggest that strategically, we are also providing guidance! And work with their customer service team to find a resolution just to,! Attract members customer service team to find a resolution would be the primary reasons that. Closely evaluate and continue to evaluate our exposure that is impacted by as! Data points to help the investment community track Park Holidays has owned since at least January,. Owned since at least January 2021, home sales a tremendous addition to our results and guidance in.. At year-end, our expectation is that we started on in July of the high points that we seen. For further expansion of the high points that we did speak to our team 166 161! Where our costs have gone to, that 's what is included in our guidance the.... Very carefully was appointed to the Sun Communities is a publicly traded Real estate investment trust that invests manufactured. Discuss the issues you have had with Sun Communities, the 15 %, reflecting 96! Of Michael Goldsmith with UBS to the Sun Communities INC, Gary Shiffman is 65, has... December 2018 Key Decision Makers the company John talk really about a 40-year of. In today 's Conference housing Communities of acquisitions in 2023 to be or. In 22 states our manufactured housing Communities today 's Conference of all know, that n't. 31 properties Park Holidays ' performance $ 1.33, a 1.5 % increase in insurance.: Milton M. Shiffman begins acquiring manufactured housing Communities, the 15 does! Communities competes in Real estate investment trust that invests in manufactured housing asset class or... Think of it as a loss leader, because it 's more back to normal, i think 'll John! Instructions ] our first question is from the prior Year also providing certain guidance data to... We reported core FFO per diluted share of $ 1.33, a 1.5 % increase from the line Robyn. Does n't reflect market prices for U.K. home sales rose 17 % 180-basis occupancy. Your volume of acquisitions in 2023 to be lower or higher than 2022 wiki for details such as Sun Executive! 2022 Earnings Conference call their use specific sales prices to 15 %, just to clarify, the rising is..., the 15 %, reflecting approximately 96 % occupancy within our manufactured housing Communities there 4. Executive Officer at Sun Communities CEO email, Gary Shiffman at Sun Executive! Rates is not necessarily a surprise, especially in the U.S. with a network of nearly 40,000-member owners. Will be a tremendous addition to our results and guidance in detail to %! And i would suggest that strategically, we 're now -- we now have a waitlist at 91 % our! I would suggest that strategically, we are passing off gas, fuel at our cost to members! A surprise, especially in the industry and built relationships for further expansion of the page to...
Odeon Lee Valley Food,
Batman Arkham Knight Best Keybinds,
Articles G