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Sun Communities : Supplemental Data December 31, 2020

Sun Communities, Inc Reports 2020 Fourth Quarter Results and 2021 Guidance

Sun Communities, Inc Reports 2020 Fourth Quarter Results and 2021 Guidance
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New owners of Association Island plan to revamp buildings, honor history

HENDERSON HARBOR — Sun Communities Inc., the proud new owner of Association Island and the RV resort it’s home to, has big plans for the future of the property and possibly the surrounding area. Included in plans for Association Island is the restoration of the property’s older buildings, and Sun Communities is even exploring the possibility of restoring the old town hall on the site to its original condition — a nod to the history that helped make the site such an attractive option for the new buyer. “Association Island has a lot of history and has a story to tell,” said Marco Broggio, regional vice president of sales and operations for Sun Communities. “We’re hoping to provide a new experience to the tourism and hospitality industry in the area by telling its story (and) by narrating its past, present and future.”

Sale price of Association Island in Henderson Harbor is $5 45 mil

HENDERSON HARBOR — Documents filed Wednesday with the Jefferson County Clerk’s office show that the sale price of Association Island on Lake Ontario was $5.45 million. LJS Properties LLC, Skaneateles, sold the 65-acre island, which includes a recreational vehicle park and marina, to Sun Association Island RV LLC, Southfield, Mich. The principal of LJS Properties is Dr. Nak K. Shim, who has owned and operated the island and its RV park since 2002. Sun Association Island is an affiliate company of Sun Communities Inc., a real estate investment trust that operates manufactured home and RV communities nationwide. Dr. Shim’s son, Dr. John H. Shim, announced the family had sold the property Jan. 25. The younger Dr. Shim had been serving as the resort’s chief executive officer.

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