# Sunrise Communities — Company State

*Part of the Sunrise AI Starter Kit. Reference doc for AI conversations on Sunrise work — paste at the top of a new chat, or attach as a file if your AI tool supports uploads. Pair with the **Sunrise AI System Prompt** and **Sunrise — Glossary** for full context.*

*Questions or updates: Carlos Terrazas ([carlos.terrazas@mysunrisecommunity.com](mailto:carlos.terrazas@mysunrisecommunity.com)).*

**Last updated:** 2026-05-01

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## Who We Are

- **Sunrise Communities** — property management arm
- **Sunrise Capital Investors** — acquisitions / private equity arm
- **Model:** Value-add manufactured housing parks (MHPs) and parking assets. Acquire from mom-and-pop owners, force appreciation by closing the gap between actual rent and market rent (loss-to-lease).
- **Tension we navigate honestly:** "forever homes" for residents vs. "legacy wealth" for investors.

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## Current Period

- **Quarter:** Q2 2026
- **Fiscal year:** 2026

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## 2026 Targets

| Metric | Target |
|--------|--------|
| AUM | $500M |
| NOI | $22M |
| Revenue | $37M |

## 2026 Company Goals (in order)

1. Companywide Value Engines Mapped
2. 6% Same-Store NOI Growth in MHCs
3. Launch Credit Fund
4. $100M New Acquisitions
5. $75M Capital Raised

## 3-Year Vision (end of 2028)

- AUM: ~$764M (double end-of-2025)
- NOI: ~$45M

## 5-Year Mission

- Help 25,000 families attain the dream of home
- Capital raised '26–'28: $250M+
- Total investors: 1,500+
- New acquisitions '26–'28: $325M
- Credit Fund: $25M+

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## Portfolio Scale

| Metric | Count |
|--------|-------|
| MHCs | 45 |
| Lots | 8,250+ |
| Resident Paid Spaces (RPS) | 5,500+ |
| Parking AUM | $330M |

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## Leadership

| Person | Role |
|--------|------|
| Brian Spear | CEO |
| Ron Agaylan | Chief of Staff |
| Mike Hart | CFO |
| Todd De Leon | COO |
| Kevin Bupp | CIO |
| Scott Corbett | CGO |
| Sam Simonian | CAMO (Chief Asset Management Officer) |
| Nhick Averion | Strategic Assistant |

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## Q2 2026 Operations Priorities

- Complete 2026 CapEx projects
- +15 RPS across portfolio
- 12 Communities Certified (up from 8 in Q1)
- New home arrivals and set
- Google Drive conversion from Dropbox
- Utility Recapture Schedule
- Onboard new underwriting platform

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## What's NOT in this document

Q1 actuals, named acquisition pipeline, Fund 5 capital raised, and other current-quarter financial figures are kept out of the universal layer. Those facts live in dept Project Files (Finance, Asset Management, Acquisitions, IR), not here.

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## Update Protocol

Maintained by Carlos. To request changes, message Carlos directly.