Thomson Reuters tells MHProNews that funds from operations excluding transaction costs was $0.69 per diluted share and OP unit for the three months ended December 31, 2014.
Results included:
- Same site net operating income increased by 6.2 percent as compared to the three months ended December 31, 2013.
- Revenue producing sites increased by 475 sites bringing total portfolio occupancy to 92.6 percent.
- Home sales increased 11.3 percent as compared to the fourth quarter of 2013.
- Completed the purchase of the first phase of the American Land Lease 59-community portfolio acquisition in November 2014 and the second phase on January 6, 2015, for approximately $1.33 billion.
“The last half of 2014 was spent planning for and executing the on-boarding of the American Land Lease portfolio. The transition was executed swiftly and we are encouraged by the early contribution the properties are making to our expanded portfolio,” said Gary A. Shiffman, Sun Communities Chairman and CEO. “With our core portfolio continuing to produce strong results, we believe we have successfully created an enhanced platform that is positioned to provide both short-term and long-term future growth,” Shiffman added. ##
(Logo Credit: Sun Communities)
Article submitted by Sandra Lane to – Daily Business News – MHProNews
