Sun Communities

Last updated
Sun Communities, Inc.
Company type Public company
Industry Real estate investment trust
Founded1975;49 years ago (1975)
Headquarters Southfield, Michigan, U.S.
Key people
RevenueIncrease2.svg US$3.1 billion (2023)
Increase2.svg US$0.22 billion (2023)
Total assets Increase2.svg US$17.4 billion (2023)
Total equity Increase2.svg US$6.7 billion (2021)
Number of employees
7,594 (2023)
Website suncommunities.com
Footnotes /references
[1]

Sun Communities is a publicly traded real estate investment trust that invests in manufactured housing communities, recreational vehicle communities, and marinas. As of March 31, 2024, the company owned interests in 665 such properties in the United States, Canada, and the UK consisting of approximately 180,110 developed sites and over 48,040 wet slips and dry storage spaces. [2] [3] [4]

Contents

Sun Communities is listed on the New York Stock Exchange under the symbol: SUI. [5]

Gary Shiffman is chairman and chief executive officer of Sun Communities, and has been a director since the company's inception in 1993. [6]

Brands

Sun Outdoors (formerly known as Sun RV Resorts) is the RV resort division of Sun Communities, Inc. and was established in 1996. It is the owner and operator of more than 170 resorts and campgrounds across the United States and Canada.

History

The company dates to 1975.

In December 1993, the company became a public company via an initial public offering. [7]

In March 1996, the company acquired 25 manufactured housing communities for $226 million. [8]

In 1996, Sun RV Resorts was established. [9]

In June 2016, the company acquired a portfolio of 103-communities mostly located in California, Florida, and Ontario, Canada for $1.7 billion from an affiliate of Centerbridge Partners. [10] [11] [12]

In October 2019, the company acquired a portfolio of 31 manufactured housing communities for $343.6 million. [13]

In September 2020, the company acquired Safe Harbor Marinas for $2.11 billion. [14]

On Nov. 16, 2021, Sun RV Resorts Rebrands to Sun Outdoors. [15]

In April 2022, the company acquired Park Holidays UK for $1.3 billion. [16]


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References

  1. ↑ "Sun Communities, Inc. 2021 Form 10-K Annual Report". Sun Communities, Inc. as filed with the US Securities and Exchange Commission.
  2. ↑ "SUI Form 8-k". sec.gov. Retrieved 2023-07-26.
  3. ↑ "EX-99.1 2 exhibit991". sec.gov. Retrieved 2023-07-26.
  4. ↑ "FORM 8-K Date of Report: February 15, 2024".
  5. ↑ "NYSE". www.nyse.com. Retrieved 2023-05-24.
  6. ↑ "Archives". U.S. Securities and Exchange Commission. July 23, 1996.
  7. ↑ "Equity Issues This Week" . The New York Times . November 29, 1993.
  8. ↑ "SUN COMMUNITIES TO BUY MANUFACTURED HOUSING GROUPS". The New York Times . Dow Jones & Company. March 21, 1996.
  9. ↑ "RV RESORT LEADER SUN COMMUNITIES EYEING GROWTH". RV Business . October 18, 2019.
  10. ↑ "SUN COMMUNITIES, INC. CLOSES ACQUISITION OF CAREFREE COMMUNITIES FOR $1.68 BILLION" (Press release). GlobeNewswire. June 9, 2016.
  11. ↑ "Carefree Communities Inc. To Be Acquired By Sun Communities, Inc" (Press release). PR Newswire. March 22, 2016.
  12. ↑ Beckerman, Josh (March 22, 2016). "Sun Communities Reaches $1.68 Billion Deal for Fellow REIT Carefree" . The Wall Street Journal .
  13. ↑ "Sun Communities, Inc. Closes Acquisition of Jensen Portfolio" (Press release). GlobeNewswire. October 30, 2019.
  14. ↑ "Sun Communities Acquires Safe Harbor Marinas in $2.1B Deal". 2020-09-30. Retrieved 2020-10-01.
  15. ↑ "Sun RV Resorts Rebrand to Sun Outdoors, Redefining the Outdoor Travel Experience". Cision PR Newswire . November 16, 2021.
  16. ↑ "Sun Communities, Inc. Closes Acquisition of Park Holidays UK". 2022-04-08. Retrieved 2022-04-10.
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