Sun Communities
Type | Public company |
---|---|
Industry | Real estate investment trust |
Founded | 1975 |
Headquarters | Southfield, Michigan, U.S. |
Key people | Gary A. Shiffman, Chairman & CEO John B. McLaren, COO Karen J. Dearing, CFO |
Revenue | ![]() |
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Total assets | ![]() |
Total equity | ![]() |
Number of employees | 3,146 (2019) |
Website | suncommunities |
Footnotes / references [1] |
Sun Communities is a publicly traded real estate investment trust that invests in manufactured housing communities, recreational vehicle resorts, and marinas. As of June 30, 2021 the company owned interests in 569 such communities in the United States and Canada consisting of over 153,300 developed sites and nearly 41,300 wet slips and dry storage spaces.
History[]
The company dates to 1975.[1]
In December 1993, the company became a public company via an initial public offering.[2]
As of June 30, 2020, the company owned interests in 426 such communities in the United States and Canada consisting of nearly 143,000 sites.
In March 1996, the company acquired 25 manufactured housing communities for $226 million.[3]
In August 1996, the company made a hostile bid to buy Chateau Properties Inc. for $370 million in stock.[4][5][6]
In September 1997, the company acquired 9 manufactured housing communities for $93 million.[7]
In September 1999, the company opened its 4th community in Austin, Texas.[8]
In April 2013, the company acquired Yogi Bear's Jellystone Park in Wyoming County, New York.[9]
In August 2015, the company sold properties in Ohio and Michigan to UMH Properties for $34.5 million.[10]
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.[11][12][13]
In October 2019, the company acquired a portfolio of 31 manufactured housing communities for $343.6 million.[14]
In September 2020, the company acquired Safe Harbor Marinas for $2.11 billion.[15]
Gallery[]
Water Oak Country Club is in Lady Lake, FL (55+ community)
Branch Creek in Austin, TX
Country Meadows in Flat Rock, MI
Sun Villa in Reno, NV
Carrington Pointe in Ft. Wayne, IN
Oak Crest in Austin, TX
Cave Creek in Evans, CO
Deerfield Run in Anderson, IN
References[]
- ^ a b "Sun Communities, Inc. 2019 Form 10-K Annual Report". U.S. Securities and Exchange Commission.
- ^ "Equity Issues This Week". The New York Times. November 29, 1993.
- ^ "SUN COMMUNITIES TO BUY MANUFACTURED HOUSING GROUPS". The New York Times. Dow Jones & Company. March 21, 1996.
- ^ "Sun Communities Bid Creates a Battle for Chateau Properties". The New York Times. Bloomberg News. August 22, 1996.
- ^ "Hostile Bid Launched for REIT Chateau". Los Angeles Times. Reuters. September 5, 1996.
- ^ Lipin, Steven (August 22, 1996). "Sun Communities Announces Rival Bid for Chateau REIT". The Wall Street Journal.
- ^ "SUN COMMUNITIES IN $93 MILLION DEAL WITH PARK REALTY". The New York Times. Bloomberg News. September 12, 1997.
- ^ "Sun opens fourth subdivision here". American City Business Journals. September 24, 1999.
- ^ Drury, Tracey (April 22, 2013). "Jellystone Park in Wyoming County gets new owners". American City Business Journals.
- ^ "Sun Communities Closes Credit Facility, Sells & Buys Assets". NASDAQ. August 24, 2015.
- ^ "SUN COMMUNITIES, INC. CLOSES ACQUISITION OF CAREFREE COMMUNITIES FOR $1.68 BILLION" (Press release). GlobeNewswire. June 9, 2016.
- ^ "Carefree Communities Inc. To Be Acquired By Sun Communities, Inc" (Press release). PR Newswire. March 22, 2016.
- ^ Beckerman, Josh (March 22, 2016). "Sun Communities Reaches $1.68 Billion Deal for Fellow REIT Carefree". The Wall Street Journal.
- ^ "Sun Communities, Inc. Closes Acquisition of Jensen Portfolio" (Press release). GlobeNewswire. October 30, 2019.
- ^ "Sun Communities Acquires Safe Harbor Marinas in $2.1B Deal". 2020-09-30. Retrieved 2020-10-01.
External links[]
- Business data for Sun Communities, Inc.:
- 1975 establishments in Michigan
- 1993 initial public offerings
- American companies established in 1975
- Companies based in Michigan
- Companies listed on the New York Stock Exchange
- Real estate investment trusts of the United States