Southfield, MI, Sept. 07, 2022 (GLOBE NEWSWIRE) — Sun Communities, Inc. (NYSE: SUI) (the “Company” and “Sun”) an actual property funding belief (“REIT”) that owns and operates, or has an curiosity in, manufactured housing (“MH”) communities, leisure automobile (“RV”) resorts, and marinas publicizes that efficient December 31, 2022, Bruce Thelen, present Executive Vice President of Operations and Sales, will assume the position of Chief Operating Officer.
Also on December 31, 2022, Gary Shiffman, the Company’s present Chief Executive Officer, will assume the position of President, and John McLaren, the Company’s present President and Chief Operating Officer, will stay as Executive Vice President and focus on entitling and integrating new MH developments. This narrowed focus will permit him to spend extra time along with his household whereas persevering with to fill an necessary senior position on the Company.
Mr. Shiffman acknowledged, “We are thrilled to be promoting Bruce to COO. Bruce has been a vital member of Sun’s leadership team since joining us in 2018. With a background at a leading manufactured home builder, he began his tenure at Sun in Manufactured Housing sales and leasing and has consistently grown his responsibilities related to MH and RV property operations and marketing. Bruce has worked closely with John overseeing the operations team executing on many innovative and successful initiatives and continuing our performance-driven culture. I look forward to Bruce’s continued leadership and ongoing contributions, and I am confident in a smooth transition.”
Mr. Shiffman continued, “I would like to thank John for his over 20 years of service thus far with Sun. He has been instrumental in our evolution and has been a trusted colleague and leader. Along with many other strategies and programs, he helped establish Sun’s development platform, which is one of our key differentiators. In order to spend more time with his family, John is narrowing his focus and, in his new role, will continue to help drive value by executing on our highly accretive development and expansion opportunities within the manufactured housing portfolio.”
Mr. McLaren acknowledged, “It has been both a privilege and honor for me to lead the Sun team over these many years as we have contributed to Sun’s incredible growth and emergence as a leader in the industry. We have created an unparalleled platform to drive growth as Sun continues to deliver long-term value to all of our stakeholders. Looking ahead, I am excited to focus on expanding the success of Sun’s development platform, as well as providing my expertise to the broader Sun teams as we continue down our familiar path of innovation.”
Mr. Thelen acknowledged, “I am excited to be working alongside such a talented and dedicated team. We have a great responsibility to continue to deliver high quality, attainable housing and memorable, affordable vacations. Our focus will remain squarely on providing the highest level of service to our residents, guests, and members, while optimizing operational efficiencies.”
Mr. Thelen at the moment serves because the Company’s Executive Vice President of Operations and Sales. Mr. Thelen has led the manufactured dwelling gross sales and leasing subsidiary, Sun Home Services, Inc., since becoming a member of the Company in January 2018. Prior to Sun, Mr. Thelen held a number of positions with a nationwide manufactured dwelling builder, most lately as its Vice President of Sales and Marketing. Prior to that, he was with the administration consulting agency Booz & Company.
About Sun Communities, Inc.
Sun Communities, Inc. is a REIT that, as of June 30, 2022, owned, operated, or had an curiosity in a portfolio of 661 developed MH, RV and marina properties comprising practically 180,300 developed websites and over 45,900 moist slips and dry storage areas in 39 states, Canada, Puerto Rico and the UK.
Forward Looking Statements
This press launch accommodates varied “forward-looking statements” inside the that means of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended, and the Company intends that such forward-looking statements will likely be topic to the secure harbors created thereby. Forward-looking statements may be recognized by phrases akin to “will,” “may,” “could,” “expect,” “anticipate,” “believes,” “intends,” “should,” “plans,” “estimates,” “approximate,” “guidance,” and related expressions on this press launch that predict or point out future occasions and tendencies and that don’t report historic issues.
These forward-looking statements replicate the Company’s present views with respect to future occasions and monetary efficiency, however contain recognized and unknown dangers, uncertainties, and different elements, a few of that are past the Company’s management. These dangers, uncertainties, and different elements could trigger the precise outcomes of the Company to be materially totally different from any future outcomes expressed or implied by such forward-looking statements. Such dangers and uncertainties embody the results of the COVID-19 pandemic and associated stay-at-home orders, quarantine insurance policies and restrictions on journey, commerce and business operations; nationwide, regional and native financial climates; wars and different worldwide conflicts; difficulties within the Company’s means to judge, finance, full and combine acquisitions, developments and expansions efficiently; the power to take care of rental charges and occupancy ranges; aggressive market forces; the efficiency of current acquisitions; adjustments in market charges of curiosity; adjustments in international foreign money change charges; the power of purchasers of manufactured houses and boats to acquire financing; and the extent of repossessions by manufactured dwelling and boat lenders. Further particulars of potential dangers which will have an effect on the Company are described within the Company’s periodic studies filed with the U.S. Securities and Exchange Commission, together with within the “Risk Factors” sections of the Company’s Annual Report on Form 10-Ok for the 12 months ended December 31, 2021.
The forward-looking statements contained on this press launch communicate solely as of the date hereof and the Company expressly disclaims any obligation to supply public updates, revisions or amendments to any forward-looking statements made herein to replicate adjustments within the Company’s assumptions, expectations of future occasions, or tendencies.
For Further Information on the Company:
Fernando Castro-Caratini
Chief Financial Officer
(248) 208-2500
www.suncommunities.com
