Southfield, MI, Oct. 04, 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 car (“RV”) resorts and marinas, is offering a preliminary evaluation of the affect of Hurricane Ian on the Company’s properties in Florida.
The Company has entry to all its properties and assessments are within the early phases. Restoration and cleanup actions have begun in any respect affected properties. Convoys of provides, meals, journey trailers, and vans, all assembled and arranged by Sun crew members, have been delivered to Sun’s Florida properties. The Company continues to judge the affect of the storm.
Three RV properties within the Fort Myers space, comprising roughly 2,500 websites, sustained vital flooding and wind harm from the hurricane. Additionally, the ocean wall and docks at one marina within the space had been broken. At different affected MH and RV properties, most of the harm seems to be restricted to timber, roofs, fences, skirting, and carports. At different affected marina properties, docks, buildings, and landscaping sustained restricted wind and water harm.
The Company maintains property, casualty, flood, and business interruption insurance for its portfolio of communities, topic to customary deductibles and limits. Additionally, by way of its Sun Unity program, the Company has launched a charitable giving marketing campaign for hurricane aid with an identical company contribution.
“Our thoughts and support go out to all those impacted by Hurricane Ian. Nothing matters more than the safety of our residents, guests, and team members. By having a comprehensive Hurricane Preparedness Plan, our team members are ready for situations such as this unfortunate event. Sun will continue to do all we can to help those affected by this natural disaster get access to the resources they need to recover from this storm,” mentioned Executive Vice President of Operations and Sales, Bruce Thelen. “We are extremely proud of the heroic and selfless efforts of our team. We are especially grateful to our team members on the ground committed to providing their unwavering support to restore our properties to full operation.”
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 over 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 comprises varied “forward-looking statements” inside the which 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 protected harbors created thereby. Forward-looking statements will be recognized by phrases corresponding 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 traits 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 components, some of that are past the Company’s management. These dangers, uncertainties, and different components might 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 embrace dangers associated to pure disasters, corresponding to hurricanes, earthquakes, floods, droughts and wildfires; current or potential provide chain disruptions; the consequences 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 skill to judge, finance, full and combine acquisitions, developments and expansions efficiently; the flexibility to keep up rental charges and occupancy ranges; aggressive market forces; the efficiency of current acquisitions; adjustments in market charges of curiosity; adjustments in overseas foreign money alternate charges; the flexibility of purchasers of manufactured properties 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 experiences 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 offer 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 traits.
For Further Information at the Company:
Fernando Castro-Caratini
Chief Financial Officer
(248) 208-2500
www.suncommunities.com
