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Sun Communities history
Sun Communities company history timeline
In 1975, he established the predecessor to Sun Communities Inc.
In 1981, Shiffman retired from his medical practice to concentrate fully on his growing company.
In 1985, the pair incorporated the firm in order to pursue further growth options.
At first, a REIT could only own real estate, but the Tax Reform Act of 1986 laid the groundwork for change and enabled a REIT to own, operate, and even finance income-producing real estate.
Going Public as a REIT: 1993
In January 1994, it acquired Timberline Estates, a manufactured community with 296 sites located near Grand Rapids, Michigan.
1994: Sun has the best-performing stock among manufactured housing REITs.
In fact, by the close of 1995, Sun had acquired two new communities in Florida and as well as two in Austin, Texas, which was considered the fastest growing area in the state in terms of population and job creation.
Revenues continued to grow in 1998, reaching $120.6 million.
In September 1999, the company opened its 4th community in Austin, Texas.
While Sun's growth slowed during 2000, the company still recorded positive revenues of $134.4 million and net income of $29.1 million.
2000: The company launches its "Residents First" program.
In August 2015, the company sold properties in Ohio and Michigan to UMH Properties for $34.5 million.
In October 2019, the company acquired a portfolio of 31 manufactured housing communities for $343.6 million.
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Sun Communities competitors
| Company name | Founded date | Revenue | Employee size | Job openings |
|---|---|---|---|---|
| Kingdom Holding Company | - | $469.2M | - | 4 |
| MyMHcommunity | 1992 | $1.5B | 4,000 | 445 |
| Barrons | - | $1.9M | 20 | - |
| Ba | - | $309.4M | 9 | 24 |
| Wepco FCU | 1950 | $8.0M | 20 | - |
| Figure | 2018 | $21.4M | 450 | 150 |
| Davenport & Company | 1863 | $132.3M | 200 | 63 |
| Hartleys Limited | - | $690,000 | 25 | - |
| Miami International Holdings | - | $7.4M | 51 | 9 |
| Brazos Community Credit Union | 1970 | $770,000 | 5 | - |
Sun Communities history FAQs
Zippia gives an in-depth look into the details of Sun Communities, including salaries, political affiliations, employee data, and more, in order to inform job seekers about Sun Communities. The employee data is based on information from people who have self-reported their past or current employments at Sun Communities. The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. Sources of data may include, but are not limited to, the BLS, company filings, estimates based on those filings, H1B filings, and other public and private datasets. While we have made attempts to ensure that the information displayed are correct, Zippia is not responsible for any errors or omissions or for the results obtained from the use of this information. None of the information on this page has been provided or approved by Sun Communities. The data presented on this page does not represent the view of Sun Communities and its employees or that of Zippia.
Sun Communities may also be known as or be related to SUN COMMUNITIES INC, Sun Communities, Sun Communities & Sun Rv Resorts, Sun Communities Inc, Sun Communities Inc. and Sun Communities, Inc.