5 free lookups per month. Thank you very much. There are 4 older and 13 younger executives at Sun Communities. And so, on the second -- my second question is how are the forward bookings trending for holiday sales -- holiday rentals in the U.K.? Read more Brian Hermelin Board Member C Clunet Lewis 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. Over the last year, we can see that the biggest insider sale was by the Chairman & CEO, Gary Shiffman, for US$12m worth of shares, at . To find out more about what we have to offer, visit a community near you or contact us. 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. Our Culture: Having turned over these units, we are now able to realize higher rents on incoming leases. 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 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. And then, how are you guys thinking about the kind of payback as you kind of increase rate on the annual side? 4.0 . 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 After their remarks, there will be an opportunity to ask questions. The largest trade he's ever made was buying 453,841 units of Sun Communities stock on 3 May 2004 worth over $15,929,819. 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? Technologies. Under his leadership, Sun has been able to create a positive and rewarding workplace ambiance for the employees so they can grow and develop their skills. 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. 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. As we look at our -- as we look strategically at the portfolio, and Gary mentioned in his remarks, right, we can -- we look at our investment program and ground-up development and expansion, we will be able to practically self-fund our investment activity in 2023, are selectively looking at opportunities on the capital recycling front, there's a couple of assets here and there, that over time can also reduce variable-rate debt. 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. He is a member of our Executive Committee. Operator? Research Tools The company's principal address is . You can see the complete history of Mr. Shiffman stock trades at the bottom of the page. And then, my second question is just on the flow-through of the NOI growth. 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? 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. 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. We don't have it broken down individually to Florida. So, I would just point to the overall increase in insurance. Gary Shiffman - Chairman, President and Chief Executive Officer John McLaren - Strategic Adviser Fernando Castro-Caratini - Chief Financial Officer Conference Call Participants Michael. Gary A. Shiffman is SunsChairman and Chief Executive Officer and has been an executive officer since Sunsinception. He reportedly earns 11-16 million USD in annual compensation. His association with Sun Communities goes back to its inception. In Payments, Like Geopolitics, India Seeks a Third Way, Subaru, Nintendo Step Up for LGBTQ Workers in Conservative Japan, Visitors Flock to Macau Again, But Its Gambling Dependence Draws Beijings Ire, Gina Raimondo Becomes China Player in a Job Where Her Predecessor Used to Nap, UK Mothers Say It No Longer Makes Financial Sense to Work, Starbucks Illegally Fired 6 New York Union Activists, Judge Rules, Australia Prepares for a Power Grid Without Spinning Turbines, Another Blow to City Centers: Retail Stores Move Outward, New York City Isnt Waiting for the White House to Enforce Fair Housing, Singapore Crypto Lender Hodlnaut's Founders Propose Selling Business Rather Than Liquidating Firm, Celsius Examiner Report Mentions FTX More Than 150 Times. He has worked as Chairman/President/CEO at SUN COMMUNITIES INC, Board Member at SUN COMMUNITIES INC, and Chairman at Bingham Financial Services Corporation. 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. 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. Bloomberg Daybreak Middle East. Required fields are marked *. 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. Total portfolio occupancy of 96.8% includes newly delivered development and expansion sites. Get contact details including emails and phone numbers Certainly with the headwinds of interest rates today, that is one big focus, Wes. So, there's no specific plan. KAREN J. DEARING. And would you expect your volume of acquisitions in 2023 to be lower or higher than 2022? All-Age Communities; Active 55+ Communities. | 27 februari 2023 China Loses More Than 40 Million Workers as Population Ages, Silvergates Worsening Crypto Losses Feed Watchdogs Worst Fears, Mexico Central Bank Cuts GDP Forecasts With Key Rate at Record 11%, Feds Bostic Urges 5% to 5.25% Rates Into 2024 to Curb Inflation, Mexico Could Consider Slowing Pace of Rate Hikes, Banxico Deputy Mejia Says, Vietnams VinFast Delivers First EVsto US Customers, EU Seeks to Salvage Combustion-Engine Ban After Germany Balks, EQT-Led Group Agrees to Buy Radius Global in $3 Billion Deal, Asias Richest Man Mukesh Ambani to Foray Into Genome Testing with $145 Kit, Snowflake Outlook Misses With Cloud Spending Under Pressure, Crackdown on Black Africans Fuels Attacks and Rebuke in Tunisia, China, Belarus Issue Vague Call for Bringing Peace to Ukraine, Singapore Wealth Firm Sees Rapid Growth Catering to Rich Families, BillionaireFamily Down $730 Million in Brazil Health Providers Stock Rout, Murdochs Fawning Letter to FIFA Chief Disclosed in World Cup Bribery Case, This Starbucks VP Turned Caribbean Rum Distiller Is the Anti-Captain Morgan. 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 And as previously announced, we added Jeff Blau, CEO of Related Companies, to our Board of Directors. Is that a demand impact? 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? And while these aren't loss leaders, we are passing off gas, fuel at our cost to attract members. I think from the booking pace perspective, right now, we are trending just a little bit ahead of last year, which is great. 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. 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. Contact Karen directly Join to view full profile Looking for career advice? We have inventory of over 16,000 fully-entitled sites for development and delivery in future years, representing embedded continued growth. Why? So, in the Park Holidays portfolio, correct [if I'm getting] (ph) this wrong, 40% of all homebuyers have stayed in one of the rentals in the property and 60% of all buyers have stayed in a rental, in a park, in a holiday property. We continue to evaluate parts of our portfolio where we think we can redeploy the capital with greater growth. Hey, Josh, it's Gary. 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. You may now disconnect your lines. Ms. Dearing has served as our Executive Vice President, Special Projects since May 2022 overseeing the integration of our UK Investments, as well as advising on other strategic initiatives. No. Fernando? So, it's more back to normal, I think. So, should this only grow with acquisitions? Or is there some other explanation? Together, the two parks one in Jurupa Valley and another in Banning, accordingContinue reading Sure. 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. And I think this is where when I referred to the fact we're seeing the reality of what's out there overall. 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