<SEC-DOCUMENT>0001193125-24-129344.txt : 20240612
<SEC-HEADER>0001193125-24-129344.hdr.sgml : 20240612
<ACCEPTANCE-DATETIME>20240502160248
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ACCESSION NUMBER:		0001193125-24-129344
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20240502

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SUN COMMUNITIES INC
		CENTRAL INDEX KEY:			0000912593
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		ORGANIZATION NAME:           	05 Real Estate & Construction
		IRS NUMBER:				382730780
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		CORRESP

	BUSINESS ADDRESS:	
		STREET 1:		27777 FRANKLIN ROAD
		STREET 2:		SUITE 300
		CITY:			SOUTHFIELD
		STATE:			MI
		ZIP:			48034
		BUSINESS PHONE:		2482082500

	MAIL ADDRESS:	
		STREET 1:		27777 FRANKLIN ROAD
		STREET 2:		SUITE 300
		CITY:			SOUTHFIELD
		STATE:			MI
		ZIP:			48034
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<TYPE>CORRESP
<SEQUENCE>1
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">May&nbsp;2, 2024 </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>VIA EDGAR </U></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Division of Corporation Finance </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Office of Real Estate and Construction </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">United States Securities
and Exchange Commission </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Washington, D.C. 20549 </P>
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<TD VALIGN="top">Attention:</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top">Mr.&nbsp;Peter McPhun</TD></TR>
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<TD VALIGN="top">Ms.&nbsp;Jennifer Monick</TD></TR>
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<TD WIDTH="5%" VALIGN="top" ALIGN="left"><B>Re:</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>Sun Communities, Inc. &#150; Form <FONT STYLE="white-space:nowrap">10-K</FONT> for the Year Ended
December&nbsp;31, 2023 </B></P></TD></TR></TABLE> <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><B>(File <FONT STYLE="white-space:nowrap">No.&nbsp;001-12616)</FONT> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Mr.&nbsp;McPhun and Ms.&nbsp;Monick: </P> <P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">Sun
Communities, Inc. (or the &#147;Company&#148;) is submitting this letter in response to the comment letter dated April&nbsp;29, 2024 (the &#147;Comment Letter&#148;) from the staff of the Securities and Exchange Commission (&#147;Staff&#148;)
concerning the Company&#146;s Annual Report on Form <FONT STYLE="white-space:nowrap">10-K</FONT> for the year ended December&nbsp;31, 2023 (&#147;Form <FONT STYLE="white-space:nowrap">10-K&#148;).</FONT> To facilitate the Staff&#146;s review, we
have included the comment contained in the Comment Letter in bold text and have provided the Company&#146;s response immediately following the comment. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Notes to Consolidated Financial Statements </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>1.
Significant Accounting Policies </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Investment Property </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Impairment of long-lived assets, page <FONT STYLE="white-space:nowrap">F-14</FONT> </B></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="5%" VALIGN="top" ALIGN="left"><B>1.</B></TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left"><B>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 <FONT STYLE="white-space:nowrap">820-10.</FONT>
</B></P></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman"><U>Response: </U> </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">We respectfully advise the Staff we do, in fact, use discounted cash flows and any potential disposition proceeds for a given asset when
estimating fair value of our long-lived assets in accordance with ASC <FONT STYLE="white-space:nowrap">820-10</FONT> Fair Value Measurements. Our Form <FONT STYLE="white-space:nowrap">10-K</FONT> for the noted period included a typographical error
using the word &#147;undiscounted&#148; rather than &#147;discounted&#148; when describing our methodology for estimating fair value of long-lived assets. Our Form <FONT STYLE="white-space:nowrap">10-K</FONT> for periods prior to December&nbsp;31,
2023 properly described our fair value methodology as using discounted cash flows. This description was accidentally changed during our preparation of our Form <FONT STYLE="white-space:nowrap">10-K</FONT> for the period ending December&nbsp;31,
2023. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">May 2, 2024 </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Page | <B>2</B> </P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; margin-left:9%; font-size:10pt; font-family:Times New Roman">We recently filed our Form <FONT STYLE="white-space:nowrap">10-Q</FONT> for the period ended
March&nbsp;31, 2024 and have included in Footnote 1. Basis of Presentation our Impairment of long-lived assets policy which correctly describes our use of discounted cash flows and any potential disposition proceeds for a given asset when estimating
fair value of our long-lived assets and will correct the disclosure in future filings of our Form <FONT STYLE="white-space:nowrap">10-K.</FONT> </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; text-indent:9%; font-size:10pt; font-family:Times New Roman">Any questions or comments with respect to the Company&#146;s Form <FONT STYLE="white-space:nowrap">10-K</FONT> may be communicated to the
undersigned at (248) <FONT STYLE="white-space:nowrap">208-2500</FONT> or by email (<U>fcastro@suncommunities.com</U>). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Very truly yours, </P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">/s/ Fernando Castro-Caratini </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Fernando Castro-Caratini </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Chief Financial Officer and Secretary </P>
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