Overview Key strengths Key risks Largest owner of manufactured housing (MH) communities (which now includes Holiday Parks), recreational vehicle (RV) resorts, and marinas. Increasing exposure to leisure properties that may exhibit more volatility in economic downturns. Track record of strong operating performance that highlights the portfolio?s resiliency through economic cycles. Value-oriented assets, which we consider less differentiated relative to other traditional property types we rate. Favorable fundamentals for demand and supply support healthy organic growth across property types Aggressive acquisition strategy that heightens funding risk and adds intra-year volatility to credit metrics. SUI owns a large and geographically diversified portfolio of 646 properties throughout the U.S., Canada, and U.K., including MH and RV communities, marinas and more recently, holiday parks
