sun communities marinas

Underwood said that marinas produce a predictable, recurring revenue stream from moorings, slips and storage that is similar to that of manufactured housing and RV resorts. Please call us at {{people.phone_number}} The Company acquired 99 marinas owned and operated by Safe Harbor and eight marinas Safe Harbor manages on behalf of third parties. Sun Communities, Inc. is a REIT that, as of September 30, 2020, owned, operated, or had an interest in a portfolio of 432 communities comprising nearly 146,000 developed sites in 32 states. Sun Communities : Investor Presentation - Safe Harbor Marinas, LLC September 29, 2020 at 09:50 am Safe Harbor Old Port Cove, North Palm Beach, FL Safe Harbor Cabrillo Isle, San Diego, CA Safe Harbor Glen Cove, Glen Cove, NY Safe Harbor Newport Shipyard, Newport, RI Acquisition of Safe Harbor Marinas, LLC September 2020 , , , , , , Environmental, Social and Governance (ESG), HVAC (Heating, Ventilation and Air-Conditioning), Machine Tools, Metalworking and Metallurgy, Aboriginal, First Nations & Native American, SAVANNAH YACHT CENTER JOINS SAFE HARBOR MARINAS. The company's services include boat repairs like mechanical, electric, plumbing and sanitation systems to clients. If the Company acquires all three additional properties described above, it will pay additional aggregate consideration of approximately $94 million. [8][9][10], In October 2019, the company acquired a portfolio of 31 manufactured housing communities for $343.6 million. We have studied the marina industry and specifically Safe Harbor for a number of years and have gotten to know the team very well. Hewitt covers planning and zoning issues. Shell Creek RV Resort & Marina. Safe Harbor Marinas Announces Merger Agreement With Sun Communities "The manager is awesome and made everything so easy for me, from paperwork to approving a couple of exterior improvements The neighborhood is clean and quiet, and I just love it here! " Copyright 2023 Safe Harbor Marinas, LLC. Citigroup acted as financial advisor to the Company and Jaffe, Raitt, Heuer & Weiss, Professional Corporation acted as legal advisor. Were going to run it with the same people weve been running Safe Harbor with for the last four years.. Sun Communities Inc. Callers outside the U.S. or Canada can access the call at 201-689-8470. Learn More, -2023/07/30 08:13:24 ==== 1969/12/31 07:00:00. 27777 Franklin Road, Suite 300, Southfield, MI 48034. Sun Communities Acquires Safe Harbor Marinas in $2.1B Deal Community Manager, {{item.title}}: The transaction with Safe Harbor Marinas is a continuation of our forward-thinking strategic positioning and represents a very compelling growth opportunity, Shiffman said. Pavillion. 14785 Preston Road, 9th Floor; Suite 975; Dallas, TX 75254; Resident at Frenchtown Villa/Elizabeth Woods (MI), "We love living here so far. Fill out the information below or call Get the latest business insights from Dun & Bradstreet. served as legal counsel to Sun Communities and Sidley Austin LLP and Duane Morris LLP served as legal counsel to Safe Harbor Marinas. DALLAS,Sept. 29, 2020/PRNewswire/ We are pleased to announce that Safe Harbor Marinas has entered into a definitive merger agreement with Sun Communities, Inc. (NYSE:SUI) and one of its subsidiaries in a transaction for cash and SUI equity valued at$2.11 billion. [7], 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. 'Sales Manager':'Sales Person'}}, {{people.full_name}}, Necessary cookies are absolutely essential for the website to function properly. We also use third-party cookies that help us analyze and understand how you use this website. ", Gary A. Shiffman, Chief Executive Officer of Sun Communities added, "We look forward to welcoming Safe Harbor to the Sun family. About Us - Sun Communities We are committed to continuing the growth of our marina portfolio by harnessing Sun's advantageous cost and form of capital. Sun Communities, Inc. is a REIT with a leading portfolio of manufactured housing communities, RV resorts, and marinas. Safe Harbor Marinas is thelargest owner and operator ofmarinas in the world. {{people.phone_number}} Theyre going to let us run the company in the way that weve done pretty well in the past few years but theyre there to help. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee future results, levels of activity, performance or achievements. We have studied the marina industry and specifically Safe Harbor for a number of years and have gotten to know the team very well. Fill out the information below or call Sun Communities, Inc. Southfield, MI, Oct. 30, 2020 (GLOBE NEWSWIRE) -- Sun Communities, Inc. (NYSE: SUI) (the "Company") today announced the closing of its previously announced acquisition of Safe Harbor Marinas, LLC (Safe Harbor). Sun Communities, a real estate investment trust based in Southfield, Michigan, announced the purchase of 104 marinas in 22 states including 18 marinas across Connecticut and Rhode Island in a deal valued at $2.1 billion in cash and stock. All Rights Reserved. We use cookies to personalize content and to provide you with an improved user experience. Safe Harbor Marinas Announces Merger Agreement With Sun Communities CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS. {{people.phone_number}}, {{people.full_name}}, Sun Communities : Closes Acquisition of Safe Harbor Marinas , . Safe Harbor Marinas Acquired for $2.1 Billion - Trade Only Today Fort Myers. Safe Harbor Marinas was built in partnership with American Infrastructure Funds, Koch Real Estate Investments, Weatherford Capital, and Guggenheim Partners. [6], In 1996, Sun RV Resorts was established. Sign up to get PRNs top stories and curated news delivered to your inbox weekly! 1,207 talking about this. Resident at Woodland Park Estates (OR), "What a great place to live. The marinas, currently owned and operated by Dallas-based Safe Harbor Marinas, include locations in Branford, Deep River, Essex, Mystic, Old Saybrook, Stamford, Stratford and Westbrook, and locations in Rhode Island including Barrington, Newport, Jamestown and Wickford, Warwick, and Portsmouth.With 40,000 members in its network, Safe Harbor is the largest marina enterprise in the United States. For this purpose, any statements contained in this press release that relate to expectations, beliefs, projections, future plans and strategies, trends or prospective events or developments and similar expressions concerning matters that are not historical facts are deemed to be forward-looking statements. SOURCE Safe Harbor Marinas. [12], On Nov. 16, 2021, Sun RV Resorts Rebrands to Sun Outdoors. Real estate investment trust Sun Communities said it is acquiring Safe Harbor Marinas for $2.11 billion. The managersdo constant outreach to all of us (residents). We are committed to continuing the growth of our marina portfolio by harnessing Suns advantageous cost and form of capital., Gary A. Shiffman, Chief Executive Officer of Sun Communities added, We look forward to welcoming Safe Harbor to the Sun family. Sun Communities, Inc. Southfield, Michigan, Sept. 29, 2020 (GLOBE NEWSWIRE) -- Sun Communities, Inc. (NYSE: SUI) (the "Company" or Sun), a real estate investment trust (REIT) that owns and operates or has an interest in manufactured housing and recreational vehicle communities,today announced that it has entered into a definitive merger agreement to acquire Safe Harbor Marinas, LLC (Safe Harbor). Citigroup Global Markets, Inc. served as advisor to Sun Communities. Karen J. DearingChief Financial Officer(248) 208-2500www.suncommunities.com Sun Communities, Inc. outbreaks of disease, including the COVID 19 pandemic, and related stay at home orders, quarantine policies and restrictions on travel, trade and business operations; changes in general economic conditions, the real estate industry and the markets in which the Company operates; difficulties in the Companys ability to evaluate, finance, complete and integrate acquisitions (including the acquisition of Safe Harbor), developments and expansions successfully; the Companys liquidity and refinancing demands; the Companys ability to obtain or refinance maturing debt; the Companys ability to maintain compliance with covenants contained in its debt facilities; changes in foreign currency exchange rates, including between the U.S. dollar and each of the Canadian and Australian dollars; the Companys ability to maintain rental rates and occupancy levels; the Companys failure to maintain effective internal control over financial reporting and disclosure controls and procedures; increases in interest rates and operating costs, including insurance premiums and real property taxes; risks related to natural disasters such as hurricanes, earthquakes, floods, and wildfires; general volatility of the capital markets and the market price of shares of the Companys capital stock; the Companys failure to maintain its status as a REIT; changes in real estate and zoning laws and regulations; legislative or regulatory changes, including changes to laws governing the taxation of REITs; the ability of purchasers of manufactured home buyers and boats to obtain financing; and. Jaffe Raitt Heuer & Weiss P.C. Hudson. The company's simple, CAPEX-light business model has served . Discover waterfront living without the enormous price tag at our active 55+ community in southeastern Connecticut. {{people.phone_number}} Rybovich Joins Safe Harbor Marinas - PR Newswire Non-affiliated third parties may have available homes for sale at this location that are not presented herein. Sun. The company is a fully integrated real estate investment trust (REIT) listed on the New York Stock Exchange under the symbol: SUI.