SEC Comment Letter 0000000000-24-004727 to SUN COMMUNITIES INC (SUI) (CIK 0000912593) (SUI)
SUN COMMUNITIES INC (SUI) (CIK 0000912593)
Date: April 29, 2024 · CIK: 0000912593 · Accession: 0000000000-24-004727
AI Filing Summary & Sentiment
File numbers found in text: 001-12616
Letter
United States securities and exchange commission logo April 29, 2024 Fernando Castro-Caratini Chief Financial Officer Sun Communities, Inc. 27777 Franklin Road, Suite 300 Southfield, MI 48034 Re:Sun Communities, Inc. Form 10-K for the year ended December 31, 2023 File No. 001-12616 Dear Fernando Castro-Caratini: We have limited our review of your filing to the financial statements and related disclosures and have the following comment. Please respond to this letter within ten business days by providing the requested information or advise us as soon as possible when you will respond. If you do not believe our comment applies to your facts and circumstances, please tell us why in your response. After reviewing your response to this letter, we may have additional comments. Form 10-K for the year ended December 31, 2023 Notes to Consolidated Financial Statements 1. Significant Accounting Policies Investment Property Impairment of long-lived assets, page F-14 1.We note your disclosure that you estimate the fair value of your long-lived assets based on undiscounted future cash flows and any potential disposition proceeds for a given asset. Please tell us how you determined it was unnecessary to use discounted future cash flows. Please refer to ASC 820-10. In closing, we remind you that the company and its management are responsible for the accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or absence of action by the staff. Please contact Peter McPhun at 202-551-3581 or Jennifer Monick at 202-551-3295 with any questions.
FirstName LastNameFernando Castro-Caratini Comapany NameSun Communities, Inc. April 29, 2024 Page 2 FirstName LastName Fernando Castro-Caratini Sun Communities, Inc. April 29, 2024 Page 2 Sincerely, Division of Corporation Finance Office of Real Estate & Construction
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United States securities and exchange commission logo
April 29, 2024
Fernando Castro-Caratini
Chief Financial Officer
Sun Communities, Inc.
27777 Franklin Road, Suite 300
Southfield, MI 48034
Re:Sun Communities, Inc.
Form 10-K for the year ended December 31, 2023
File No. 001-12616
Dear Fernando Castro-Caratini:
We have limited our review of your filing to the financial statements and related
disclosures and have the following comment.
Please respond to this letter within ten business days by providing the requested
information or advise us as soon as possible when you will respond. If you do not believe
our comment applies to your facts and circumstances, please tell us why in your response.
After reviewing your response to this letter, we may have additional comments.
Form 10-K for the year ended December 31, 2023
Notes to Consolidated Financial Statements
1. Significant Accounting Policies
Investment Property
Impairment of long-lived assets, page F-14
1.We note your disclosure that you estimate the fair value of your long-lived assets based on
undiscounted future cash flows and any potential disposition proceeds for a given asset.
Please tell us how you determined it was unnecessary to use discounted future cash flows.
Please refer to ASC 820-10.
In closing, we remind you that the company and its management are responsible for the
accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or
absence of action by the staff.
Please contact Peter McPhun at 202-551-3581 or Jennifer Monick at 202-551-3295 with
any questions.
FirstName LastNameFernando Castro-Caratini
Comapany NameSun Communities, Inc.
April 29, 2024 Page 2
FirstName LastName
Fernando Castro-Caratini
Sun Communities, Inc.
April 29, 2024
Page 2
Sincerely,
Division of Corporation Finance
Office of Real Estate & Construction