Sun Communities : Investor Presentation – Park Holidays UK Investor Day
June 20, 2022 at 04:54 pm EDT
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INVESTOR DAY PRESENTATION
JUNE 2022
PARK HOLIDAYS - INVESTOR DAY AGENDA
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Overview and Rationale
SEAVIEW - WHITSTABLE, KENT
Business Overview
STEEPLE BAY - SOUTHMINSTER, ESSEX
Why Park Holidays
WOOD FARM - CHARMOUTH, DORSET
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1 OVERVIEW AND RATIONALE
ACQUISITION
In April 2022, Sun Acquired Park Holidays UK for £950mm
2nd Largest UK Holiday Park Owner and Operator:
42 communities(1), comprising ~15,900 sites
Irreplaceable portfolio of high-quality,well-located and highly-amenitized parks, predominantly in seaside communities throughout the affluent South of England
Strong brand equity in addition to proven value creation capabilities
Business Model Nearly Identical to Sun's Resilient Manufactured Housing Platform
Majority of sites owner-occupied on 20+ year licenses with annual rent increases
Average customer tenure of 7+ years
Remaining sites comprise its holiday rental fleet, which feeds home sales as approximately 80% of holiday home buyers have stayed on a holiday park before
Substantial Opportunity to Continue Organic and External Growth
Market revenue growth is supported by a continued structural shift in UK demand towards domestic holidays (Brexit impact)
Numerous barriers to entry including strict regulatory environment, scarcity of desirable land and benefits of scale
Opportunity to increase rental rates and convert holiday rental fleet to owner-occupied
Ability to expand existing communities and to consolidate fragmented UK market
Long Tenured Management Team
Highly experienced team with significant industry knowledge, relationships and operational expertise
Senior management team rolled £25mm of equity into SUI common stock
MARLIE - NEW ROMNEY, KENT
CHICHESTER LAKESIDE - CHICHESTER, SUSSEX
Source: Company information. Refer to Sun Communities, Inc. Form 10-Q and Supplemental for the quarter ended March 31, 2022, as well as Press Releases and SEC Filings
after March 31, 2022, for additional information. Refer to information regarding non-GAAP financial measures in the attached Appendix
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(1) Includes two communities managed on behalf of third parties
LOOK AND FEEL LIKE SUN'S MH AND RV PROPERTIES
Nearly identical business model to Sun's
Recurring "sticky" fee paid for land use and park maintenance by all owners
Ability to generate revenue throughout the life of a home
BUENA VISTA - BUCKEYE, ARIZONA
ALLENDALE MEADOWS - ALLENDALE,
HARTS - ISLE OF SHEPPEY, KENT
ALBERTA- WHISTABLE, KENT
MICHIGAN
SUN OUTDOORS ORANGE BEACH -
SUN OUTDOORS SARASOTA -
SEAWICK - NR CLACTON-ON-SEA,
COGHURST HALL - HASTINGS, SUSSEX
ORANGE BEACH, ALABAMA
SARASOTA, FLORIDA
ESSEX
Source: Company websites
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Sun Communities Inc. published this content on 20 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 June 2022 20:53:01 UTC.
Sun Communities, Inc. is a fully integrated real estate investment trust (REIT). The Company owns manufactures housing (MH) and recreational vehicle (RV) communities and marinas in the United States, the United Kingdom, and Canada. The Company operates through three segments: MH communities, RV communities, and Marinas. The MH communities segment offers affordable housing to individuals and families, while also providing certain amenities. The RV communities offers affordable vacation opportunities to individuals and families with various amenities. The Marinas offers wet slip and dry storage space leases, end-to-end services, fuel sales and other amenities. The Company owns and operates, directly or indirectly, or had an interest in, a portfolio of 667 developed properties located in the United States, the United Kingdom, and Canada, including 353 MH communities, 179 RV communities and 135 marinas. The Companyâs properties contained an aggregate of 227,340 developed sites.