Solar Communities Publicizes COO Succession


Southfield, MI, Sept. 07, 2022 (GLOBE NEWSWIRE) — Solar Communities, Inc. (NYSE: SUI) (the “Firm” and “Solar”) an actual property funding belief (“REIT”) that owns and operates, or has an curiosity in, manufactured housing (“MH”) communities, leisure automobile (“RV”) resorts, and marinas broadcasts that efficient December 31, 2022, Bruce Thelen, present Govt Vice President of Operations and Gross sales, will assume the position of Chief Working Officer.

Additionally on December 31, 2022, Gary Shiffman, the Firm’s present Chief Govt Officer, will assume the position of President, and John McLaren, the Firm’s present President and Chief Working Officer, will stay as Govt Vice President and focus on entitling and integrating new MH developments. This narrowed focus will permit him to spend extra time along with his household whereas persevering with to fill an essential senior position on the Firm.

Mr. Shiffman acknowledged, “We’re thrilled to be selling Bruce to COO. Bruce has been an important member of Solar’s management group since becoming a member of us in 2018. With a background at a main manufactured house builder, he started his tenure at Solar in Manufactured Housing gross sales and leasing and has persistently grown his duties associated to MH and RV property operations and advertising and marketing. Bruce has labored carefully with John overseeing the operations group executing on many revolutionary and profitable initiatives and persevering with our performance-driven culture. I look ahead to Bruce’s continued management and ongoing contributions, and I’m assured in a easy transition.

Mr. Shiffman continued, “I wish to thank John for his over 20 years of service to date with Solar. He has been instrumental in our evolution and has been a trusted colleague and chief. Together with many different methods and applications, he helped set up Solar’s growth platform, which is one in all our key differentiators. With the intention to spend extra time along with his household, John is narrowing his focus and, in his new position, will proceed to assist drive worth by executing on our extremely accretive growth and growth alternatives inside the manufactured housing portfolio.”

Mr. McLaren acknowledged, “It has been each a privilege and honor for me to guide the Solar group over these a few years as we’ve contributed to Solar’s unimaginable progress and emergence as a pacesetter within the business. We have now created an unparalleled platform to drive progress as Solar continues to ship long-term worth to all of our stakeholders. Wanting forward, I’m excited to focus on increasing the success of Solar’s growth platform, in addition to offering my experience to the broader Solar groups as we proceed down our acquainted path of innovation.

Mr. Thelen acknowledged, “I’m excited to be working alongside such a gifted and devoted group. We have now an ideal duty to proceed to ship top quality, attainable housing and memorable, inexpensive holidays. Our focus will stay squarely on offering the very best stage of service to our residents, company, and members, whereas optimizing operational efficiencies.”

Mr. Thelen at present serves because the Firm’s Govt Vice President of Operations and Gross sales. Mr. Thelen has led the manufactured house gross sales and leasing subsidiary, Solar Residence Companies, Inc., since becoming a member of the Firm in January 2018. Previous to Solar, Mr. Thelen held a number of positions with a nationwide manufactured house builder, most just lately as its Vice President of Gross sales and Advertising and marketing. Previous to that, he was with the administration consulting agency Booz & Firm.

About Solar Communities, Inc.

Solar Communities, Inc. is a REIT that, as of June 30, 2022, owned, operated, or had an curiosity in a portfolio of 661 developed MH, RV and marina properties comprising practically 180,300 developed websites and over 45,900 moist slips and dry storage areas in 39 states, Canada, Puerto Rico and the UK.

Ahead Wanting Statements

This press launch comprises numerous “forward-looking statements” inside the that means of the Securities Act of 1933, as amended, and the Securities Trade Act of 1934, as amended, and the Firm intends that such forward-looking statements will likely be topic to the protected harbors created thereby. Ahead-looking statements may be recognized by phrases reminiscent of “will,” “might,” “might,” “count on,” “anticipate,” “believes,” “intends,” “ought to,” “plans,” “estimates,” “approximate,” “steering,” and related expressions on this press launch that predict or point out future occasions and developments and that don’t report historic issues.

These forward-looking statements replicate the Firm’s present views with respect to future occasions and monetary efficiency, however contain identified and unknown dangers, uncertainties, and different elements, a few of that are past the Firm’s management. These dangers, uncertainties, and different elements might trigger the precise outcomes of the Firm to be materially completely different from any future outcomes expressed or implied by such forward-looking statements. Such dangers and uncertainties embrace the results of the COVID-19 pandemic and associated stay-at-home orders, quarantine insurance policies and restrictions on journey, commerce and enterprise operations; nationwide, regional and native financial climates; wars and different worldwide conflicts; difficulties within the Firm’s capacity to guage, finance, full and combine acquisitions, developments and expansions efficiently; the power to keep up rental charges and occupancy ranges; aggressive market forces; the efficiency of latest acquisitions; modifications in market charges of curiosity; modifications in overseas forex trade charges; the power of purchasers of manufactured houses and boats to acquire financing; and the extent of repossessions by manufactured house and boat lenders. Additional particulars of potential dangers that will have an effect on the Firm are described within the Firm’s periodic reviews filed with the U.S. Securities and Trade Fee, together with within the “Threat Elements” sections of the Firm’s Annual Report on Type 10-Ok for the yr ended December 31, 2021.

The forward-looking statements contained on this press launch converse solely as of the date hereof and the Firm expressly disclaims any obligation to offer public updates, revisions or amendments to any forward-looking statements made herein to replicate modifications within the Firm’s assumptions, expectations of future occasions, or developments.

For Additional Info on the Firm:

Fernando Castro-Caratini
Chief Monetary Officer
(248) 208-2500
www.suncommunities.com



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