Investor Presentaiton
PREMIER OWNER / OPERATOR OF MARINAS
Service Offerings Increase Member Tenure
Average Marina member tenure (in years)
135
~38,900
Marinas in 24 States
Wet Slips
~9,100
Dry Storage Spaces (1)
9.4
8.8
8.2
8.1
7.0
6.7
6.5
6.4
6.0
5.6
5.0
-89%
Marinas
with Waitlists
81%
Marinas Located in
Coastal Markets (2)
76%
Marinas Owned
Fee Simple(3)
48,000
95%
Approximate
Members
Annual Rental
Revenue
8.3
Years Average
Member Tenure
6.0
2017
2018
2019
2020
2021
2022
â– Service
Non-Service
On average, member tenure at properties offering service are 20%
longer than at non-service properties
Service availability drives premium rental rates for wet slips and dry
storage spaces
Marina Same Property Year-Over-Year NOI Growth
Unmatched in Scale, Portfolio Quality and
Depth of Network Offering
# of owned Marinas - as of September 30, 2023
135
7.7%
FY22 vs. FY21
10.0% 10.3%
FY23E vs. FY22
75
SUNTEX MARINAS
99
66
MARINE MAX
23
els
Equity LifeStyle Properties
Source: Company information. Refer to Sun Communities, Inc. Form 10-Q and Supplemental for the quarter ended September 30, 2023, as well as Press Releases and SEC Filings after September 30, 2023, for additional information. Refer to
information regarding non-GAAP financial measures in the attached Appendix.
Note: With respect to guidance, estimates and forecasted information, see "Cautionary Statement Regarding Guidance" on page 2 of this presentation.
Dry Storage Spaces include Indoor Storage.
1)
SUN
2)
Calculation of Marinas located in coastal markets include those along the Great Lakes.
SUN COMMUNITIES, INC.
3)
33 currently owned Marinas operate with underlying ground leases with a weighted average remaining term of -33 years.
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