In light of current market conditions, we have shown discipline with regard to our approach to capital allocation, and we'll continue to do so going forward. I'd like to thank all of our Sun team members who contributed extraordinary efforts to our collective success. We are actively and programmatically working on a number of strategies to continue to reduce our exposure to variable-rate debt. In January of this year, we issued $400 million of 10-year senior unsecured notes, which benefited from $250 million of treasury locks and used those proceeds to further reduce our line of credit balance. We have built our culture around a simple customer service philosophy: The Golden Rule. Our next question is from the line of Anthony Powell with Barclays. So, I would just point to the overall increase in insurance. We are also providing certain guidance data points to help the investment community track Park Holidays' performance. And he alluded to it, the rising rates is not necessarily a surprise, especially in the last few months. 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. The fact that we're in Florida, Texas and California is by design. Yes. We did over since December of 2021 about 850 of treasury locks and swaps. Find contact details for 700 million professionals. Thank you. To write a complaint about Sun Communities and get an answer from the officials of Sun Communities, Complaintsboard.com's objective complaint writing and answer providing system can be used. How much is the insurance as a percentage of operating percentage? 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 -- Chairman and Chief Executive Officer Good morning and thank you for joining us as we discuss our first quarter 2021 results. Please go ahead. Enter employee name to find & verify emails, phones, social links, etc. 27777 Franklin Rd, Ste 200, Southfield, Michigan 48034, US, View 320,000, I think, we talked about moved in there last year. That is on a base of approximately 7.5% to 8% fewer site nights. So, it's going to take a real opportunity. So, our expectation is that we will pass-through these costs through rental increases as we go forward because they're part of our operating business. And when we talk about passing on guests at our cost, it's not just the cost we buy it at the pumper truck, but it's the cost associated with delivering it. Those would be the primary reasons from that perspective. Claim it and get a lot of features. I don't want anyone to think of it as a loss leader, because it's not a loss leader. 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 negotiate as a package. The employee data is based on information from people who have self-reported their past or current employments at Sun Communities. SUN HOMES (trading name, 1994-06-02 - 1999-12-31) SUN HOMES (trading name, 2000-01-13 - 2020-12-31) Agent Name GARY A. SHIFFMAN Agent Address 27777 FRANKLIN RD STE 200, SOUTHFIELD, MI, 48034 Directors / Officers. Hi, good afternoon. 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? Company Overview. Caucasian employees are most confident in their Executive Team. I think I'd remind everybody, we're going back to more of a pre-COVID normal pattern. So that is -- that explains some of the increase on the debt side as well as purchasing the inventory that will ultimately start to produce income over the course of 2023. 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. 4.0 . I don't have that broken out here in front of me. Insider Trading History of Gary A Shiffman . ComplaintsBoard.com is an independent complaint resolution platform that has been successfully voicing consumer concerns since 2004. 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? She joined us in 1998 as a Director of . 2200 West Wilson Street and 6154 Mission Boulevard in Riverside County with Sun Communities CEO Gary Shiffman (Sun Communities, Google Maps, Illustration by The Real Deal) Mobile home REIT Sun Communities has bought two complexes in Riverside County for $40 million. Thank you. 2200 West Wilson Street and 6154 Mission Boulevard in Riverside County with Sun Communities CEO Gary Shiffman (Sun Communities, Google Maps, Illustration by The Real Deal) Mobile home. Total portfolio occupancy of 96.8% includes newly delivered development and expansion sites. The most-recent trade in Sun Communities Inc is the acquisition of 129,486 shares on August 16, 2021, which cost Gary A Shiffman around $26 Million. The fourth quarter continued to show strength. 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. Required fields are marked *. A follow-up question on insurance. Discuss the issues you have had with Sun Communities and work with their customer service team to find a resolution. But with regard to insurance, as we said, we've been public for 30 years and private before that. Is there anything impacting the guide this year from the termination of a lease? To find out more about what we have to offer, visit a community near you or contact us. 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. I guess just one for Fernando on the balance sheet. Steve, I can share with you, as of this point, and I'll let John go more into specific sales. 27777 Franklin Rd Southfield, MI 48034 31700 Middlebelt Rd Farmington, MI 48334 28800 Orchard Lake Rd Farmington, MI 48334 6212 Bromley Ct West Bloomfield, MI 48322 21155 Warner Ave Warren, MI 48091 575 Pescado Ln Fort Myers, FL 33907 4250 N State Rd Davison, MI 48423 C/O SUN COMMUNITIES, INC. Is that the main reason the service retail dining and entertainment NOI is declining year-over-year? So yes, that does factor into our toolbox. Thank you. Gary Shiffman and the Sun Communities leadership team are scored a C by 31 employees placing it in the Bottom 40% of companies sized 1,001-5,000 Employees on Comparably. Hey, Josh, it's Gary. So, you will continue to see an emphasis on that strategy as we go forward. Mr Shiffman is currently Chairman and Chief Executive Officer of Sun Communities, Inc. (NYSE:SUI) Mr Shiffman has . 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 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. So, strategically, over time, we expect to more than capture that difference, certainly, on a multiple basis for the stickiness of the rental revenue versus the lower-margin business. I think you mentioned and maybe in the prepared comments that it was almost like a loss leader. He has worked as Chairman/President/CEO at SUN COMMUNITIES INC, Board Member at SUN COMMUNITIES INC, and Chairman at Bingham Financial Services Corporation. Hey, Steve, I think we've been pretty programmatic since achieving our investment-grade rating in the summer of 2021. 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. What were they on the marina side, Fernando? 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. With regard to external growth, since acquiring Park Holidays in April 2022, we have focused on integration as well as being very selective in our approach to acquisitions. 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. Yes, Wes, it's Gary. 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. And then, about 20%, 25% of it is, right, we -- is the FX on the debt amount. This concludes our prepared remarks. With Shiffman's guidance, he began building. Our insurance renewal occurred between November and January -- November of last year and January of this year. Sign up for a free account. Up to 5 I think everything is under review. 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. 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%. This year marks Sun's 30th year as a public company. He is a member of our Executive Committee. 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. Certainly with the headwinds of interest rates today, that is one big focus, Wes. We've done over $2.2 billion of IG unsecured bonds with that public market. Same is true in the RV for vacationing. 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. The U.K. market for holiday parks remains highly fragmented. And third, of course, is that difficult economies often turn up opportunities, and we are looking at a number of opportunities from all of the different platforms. Guidance data points to help the investment community track Park Holidays '.! Is under review here in front of me remind everybody, we -- is insurance. Done over $ 2.2 billion of IG unsecured bonds with that public market have had with Sun,! Then, about 20 %, 25 % of it is, right, we is! Variable-Rate debt $ 2.2 billion of IG unsecured bonds with that public market 3 May 2004 worth $... Service philosophy: the Golden Rule 's ever made was buying 453,841 units of Sun INC... 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