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. We're not going to reflect that different than our competitors and other asset classes. Het koersdoel wordt verlaagd van 166 naar 161 USD. He is our Chairman and Chief Executive Officer and has been a director and an executive officer since our inception in 1993. One of the key factors of our business that we are able to pass on, expenses in the form of rental increases. Gary Shiffman is 65, he's been the Chairman of the Board of Sun Communities since 2020. The outperformance is due to higher demand for wet slips and dry storage spaces. 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%. Is that seasonal? But when we get specifically to Florida, getting coverage was more challenging and more difficult in Florida. Total portfolio occupancy of 96.8% includes newly delivered development and expansion sites. (248) 208-2500 Phone (HQ) @suncommunities.com Email @gmail.com Email 27777 Franklin Rd Ste 200, Southfield, Michigan, 48034, United States Office Address (HQ) Reveal for Free Work Biography for Gary Shiffman, Sun Communities We have two property management companies competing in one community. 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. Biography of Gary Shiffman. So, our expectation is that we can't pass-through the expenses. So that was the remaining item from that perspective, and we did realize a larger-than-expected increase for 2023. But it's a big advantage to paying the profits that other boat owners would have to pay elsewhere. Lorem ipsum dolor sit amet consectetur adipisicing elit. 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. You will network with leading professionals from around the country and bring back best practices to your workplace. So, from the end of September to the end of December, the pound did appreciate significantly. But I think when we talk about supply/demand, we talk about over 11 million vessels registered for 800,000, 900,000 wet and dry slips. Submit a complaint and get your issue resolved. Sun Communities, Inc is the nation's premier provider of manufactured home communities and RV resorts. The strength of our portfolio is a direct result of our irreplaceable locations, the hard work of our team members and our continued reinvestment in our communities. The company, headquartered in Southfield, MI, operates communities throughout the United States and also offers RV resorts throughout the country. So, we also have the ability to continue negotiating our insurance through the year, and we will continue to do so. 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. So, we have a stringent policy there. We feel it's definitely recoverable. The U.K. market for holiday parks remains highly fragmented. You can reach Sun Communities by phone at +1 248-208-2500 or by email at info@suncommunities.com. And then, Josh, yes, the bulk of the SRD&E NOI year-over-year is coming from that active program on the fuel side. I think you mentioned and maybe in the prepared comments that it was almost like a loss leader. Yes. The current estimated net worth of Sun Communities Inc's Chairman, Gary A Shiffman, is estimated to be about $243.54M . Career & Education - Company, University, & College Gary attended Michigan State University. On the U.K. side, we're seeing enormous strength on the higher end of home buying, the more expensive homes increasing. Thank you. . Thank you. 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. We have inventory of over 16,000 fully-entitled sites for development and delivery in future years, representing embedded continued growth. We will remain disciplined in our investment activity, and our unparalleled expansion and development platform will continue to provide us with a differentiated growth opportunity. The data presented on this page does not represent the view of Sun Communities and its employees or that of Zippia. Sun Communities competes in Real estate investment trust industry. 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. He has been attached to the real estate investment trust from the beginning that specializes in sectors like housing communities, RV resorts, and marinas. Thanks. Please go ahead. How much is the insurance as a percentage of operating percentage? Our next question is from the line of John Kim with BMO Capital Markets. You called out $18 million increase in property-related insurance. No. And just to try to frame it out, like if insurance is 15% to 20% of expenses and it was 20% higher than anticipated, that would be a 300 basis point to 400 basis point headwind. We will now be conducting a question-and-answer session. (business & personal). The oldest executive at Sun Communities, Inc. is ClunetLewis, 73, who is the Lead Independent Director. As we've shared before, I think folks have heard me say it 100 times is that the most expensive site we have in our portfolio is a vacant one. And if you were to pay down debt, could you sell noncore assets and accretively repay down the variable-rate debt? In addition, he makes $7,969,260 as Chairman of the Board at Sun Communities. Featured: Microsoft CEO Bio- Satya Nadella Net Worth, Age, Career, & More! 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. So, ex that drag, is the expense growth 6% to 7% and matching kind of like the top-line growth? 10 free leads on us . Good morning, and thank you for joining us as we discuss fourth quarter and full year results for 2022 and our guidance for 2023. He has overseen the acquisition, rezoning, development, expansion and marketing of numerous manufactured home communities, as well as recreational vehicle communities. This complaint was posted by a verified customer. And so, it's something that we watch and talk about very closely as we think about what increases and how we can push further on both MH and RV. Legal taxes and insurance of our Same Property portfolio represent -- are expected to represent about 10% this year. 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. His association with Sun Communities goes back to its inception. . And would you expect your volume of acquisitions in 2023 to be lower or higher than 2022? Included in our revenue-producing site gains were over 2,250 transient RV annual lease conversions this year, a new record for Sun. 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. 50 followers 40 connections. CFO at Sun Communities Southfield, Michigan, United States. The Sun Communities management team includes Gary Shiffman (Chief Executive Officer), Lori Rumer (Division Vice President), and Eliseo Reategui (Food and Beverage Manager) . I just have a question on the service retail and dining guide. He has worked as Chairman/President/CEO at SUN COMMUNITIES INC, Board Member at SUN COMMUNITIES INC, and Chairman at Bingham Financial Services Corporation. His association with Sun Communities goes back to its inception. Every home they own was meant for demolition. Additionally, we regularly evaluate our portfolio for capital recycling opportunities to enhance our long-term growth profile. 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 that absolutely does have bearing on how we think about things and how we look at things. Just one quick one from me on acquisitions. We prefer the stickiness of the rent over the one-time margin on the home sales. Our next question is from the line of Brad Heffern with RBC Capital Markets. 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. | 27 februari 2023 Okay. And then second part, I did see a termination income. 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. For 25-plus years, we've delivered positive revenue and NOI growth every year when others have seen ups and downs. 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. Is this happening to you frequently? That 90% is ahead of the same time last year and the previous years. Is that the main reason the service retail dining and entertainment NOI is declining year-over-year? About Us: He reportedly earns 11-16 million USD in annual compensation. 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. It brings us industry-leading occupancy growth like the record 2,900 sites we gained over the course of 2022. 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. Where This Score Ranks Sun Communities' CEO Rating BOTTOM 35% In the Bottom 35% of 2023 Similar Sized Companies on Comparably 2nd Maybe a follow-up on that in terms of the development sites. We never had a stronger balance sheet, but we're very, very focused on bringing value and growth opportunity to our shareholders. What were they on the marina side, Fernando? And more so a question on how we should think about modeling this line item going forward. As summarized in yesterday's press release, we are establishing full year guidance for core FFO per share in the range of $7.22 to $7.42. Sun Communities is a multinational company founded on 1975 with its headquarters located at Southfield, Michigan, U.S. and key people behind it being Gary A. Shiffman, Chairman & CEO, John B. McLaren, COO and Karen J. Dearing, CFO. Jul 27, 2021, 11:00 a.m. SUI earnings call for the period ending June 30, 2021. Hey, guys. Thanks. SUN COMMUNITIES INC annual reports of executive compensation and pay are most commonly found in the Def 14a documents. Safe Harbor owns and operates 101 marinas in the U.S. with a network of nearly 40,000-member boat owners in 22 states. Sun Communities CEO Email | Gary Shiffman Contact You can write to gshiffman@suncommunities.com to connect with the real estate investment firm's CEO. 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. The Sun Communities Executive Team is rated a "C+" and led by CEO Gary Shiffman. It's a great question. Next, we'll consider growth that. Total Compensation for Fiscal Year Ending in 2021: $ . 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. As the Chairman of the Board of Sun Communities, the total compensation of Gary Shiffman at Sun Communities is $7,969,260. Yes. Since we achieved an investment-grade rating in 2021, we have now issued $2.2 billion of unsecured fixed-rate notes across four tranches. Sun Communities, Inc. heeft een winstverwachting afgegeven voor het eerste kwartaal eindigend op 31 maart 2023 en het gehele jaar eindigend op 31 december 2023. Gary A. Shiffman serves as Chairman of the Board of the Company. 5 free lookups per month. About Sun Communities, Inc. Sun Communities, Inc. is a REIT that, as of September 30, 2022, owned, operated, or had an interest in a portfolio of 662 developed MH, RV and Marina properties comprising over 180,500 developed sites and over 46,100 wet slips and dry storage spaces in 39 states, the United Kingdom, Canada, and Puerto Rico. Our next question is from the line of Keegan Carl with Wolfe Research. First, this article will compare CEO compensation with compensation at other large companies. Real estate investment trust Sun Communities said it is acquiring Safe Harbor Marinas for $2.11 billion. Team Members. Gary A. Shiffman is the CEO of Sun Communities, Inc. Explore this wiki for details such as Sun Communities CEO email, Gary Shiffman net worth, and Sun Communities net worth. Gary A. Shiffman; CEO, President & Chairman; Sun Communities, Inc. John Bandini McLaren; EVP; Sun Communities, Inc. Anthony Franklin Powell; Research Analyst; Barclays Bank PLC,. On average, Gary trades about 19,735 units every 69 days since 2003. As there are no further questions at this time, I would like to turn the floor back over to Gary Shiffman for closing comments. During 2022, we delivered 2,000 new expansion and greenfield development sites in North America, which was at the high end of our guidance. 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. As we look ahead to 2023, we once again expect to deliver a year of solid Same Property growth. Of the 3,100 at the high end, 60% is expected on the RV side. 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.. And then, about 20%, 25% of it is, right, we -- is the FX on the debt amount. RBC Capital Markets is positief over het aandeel met een koopadvies. Looking for a particular Sun Communities employee's phone or email? I live the valley in Apopka fl 55+ community. I think that the majority of what we heard from the participants in the syndicate and our insurance underwriting have a graph and talks about flooding, hurricanes, freezing costs and hurricane and storm damage. Hey, guys. Subsequent to the Park Holidays transaction, we acquired 14 best-in-class holiday parks in the U.K. Purchase/Sale: Shares: Price $ Amount $ D/I: 01 Mar 2023 10:54: SUI: SUN COMMUNITIES INC : LEWIS CLUNET R I don't have the numbers right in front of me, and we can get back to you or perhaps Fernando does, but you're absolutely correct. Your email address will not be published. The Last 12 Months Of Insider Transactions At Sun Communities. (business & personal). This is less of a Sun issue, an asset class issue or anything like that. GARY A. SHIFFMAN, agent; GARY SHIFFMAN, director; JOHN B MCLAREN, president; KAREN J DEARING, treasurer; KAREN J DEARING, secretary This documentary-style series follows investigative journalists as they uncover the truth. With regard to home sales, our average new home selling price in the U.S. was $196,000 for the quarter, reflecting the high demand at and strategic locations at our properties. Increase for 2023 pay elsewhere Chairman at Bingham Financial Services Corporation you called $. Line of John Kim with BMO Capital Markets looking for a particular Sun Communities it... We & # x27 ; s been the Chairman of the Same time year! 2,900 sites we gained over the course of 2022 USD in annual compensation higher 2022. Of Brad Heffern with RBC Capital Markets is positief over het aandeel met een koopadvies Real. ; and led by CEO Gary Shiffman at Sun gary shiffman sun communities email address is $ as... 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