SEC Filings

8-K
SUN COMMUNITIES INC filed this Form 8-K on 06/03/2019
Entire Document
 
 
STRATEGIC BALANCE SHEET . Balance sheet supports growth strategy . Sun’s annual mortgage maturities average 5.1% of total mortgage debt outstanding from 2019 - 2023 Mortgage Debt Outstanding Mortgage Debt 5-Year Maturity Ladder principal amounts in thousands amounts in thousands Quarter Ended March 31, 2019 CMBS Fannie Mae Freddie Mac Life Companies Principal WA $307,465 1 Outstanding Interest Rates $270,680 CMBS $403,878 5.10% Fannie Mae $765,391 4.39% Life Companies $1,330,591 4.01% $82,155 $0 $58,078 Freddie Mac $379,157 3.86% Total $2,879,017 4.24% 2019 2020 2021 2022 2023 Net Debt / EBITDA2 Net Debt / TEV 3 7.5x 6.6x 6.3x 34.0% 33.8% 5.6x 6.0x 28.2% 25.2% 24.1% 2015 2016 2017 2018 1Q19 2015 2016 2017 2018 1Q19 Source: Company information. Refer to Sun Communities, Inc. Form 10-Q and Supplemental for the quarter ended March 31, 2019 as well as Press Releases after March 31, 2019 for additional information. Refer to information regarding non-GAAP financial measures in the attached Appendix. 1 Includes premium / discount on debt and financing costs. 2 The debt ratios are calculated using trailing 12 months recurring EBITDA for the period ended March 31, 2019. 3 Total Enterprise Value includes common shares outstanding (per Supplemental), OP Units and Preferred OP Units, as converted, outstanding at the end of each respective period.