Sun Communities

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Sun Communities, Inc.
Public company
Traded as NYSESUI
Industry Real estate investment trust
Headquarters Southfield, Michigan
Key people
Gary A. Shiffman, Chairman & CEO)
John B. McLaren, President & COO
Karen J. Dearing, CFO[1]
Revenue Increase US$0.833 billion (2016)[1]
Decrease US$0.017 billion (2016)[1]
Total assets Increase US$5.870 billion (2016)[1]
Total equity Increase US$2.362 billion (2016)[1]
Number of employees
2,679 (2016)[1]
Website www.suncommunities.com

Sun Communities is a publicly traded real estate investment trust that invests in manufactured housing and recreational vehicle communities. As of December 31, 2016, the company owned interests in 341 such communities in the United States and Canada consisting of 117,376 homes.[1]

History[edit]

The company dates to 1975.[1]

In December 1993, the company became a public company via an initial public offering.[2]

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 September 2012, the company acquired a 756-unit mobile home park in Michigan for $32.2 million.[9]

In April 2013, the company acquired Yogi Bear's Jellystone Park in Wyoming County, New York.[10]

In August 2015, the company sold properties in Ohio and Michigan to UMH Properties for $34.5 million.[11]

In March 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.[12][13]

Gallery[edit]

References[edit]