You are given a text that consists of multiple sentences. Your task is to perform abstractive summarization on this text. Use your understanding of the content to express the main ideas and crucial details in a shorter, coherent, and natural sounding text. 
Text: A strong third quarter is a continuation of the momentum we have historically demonstrated, which reflects both the stability and the growth potential of the platform we have established.
This includes organic growth, expansions and developments, and acquisitions.
The unique combination of these elements allowed us to deliver 31.9% growth in core FFO per share during the third quarter, and exceeded the high end of our guidance.
The speed [Phonetic], along with a positive outlook for the remainder of the year, once again led us to raise our core 2021 FFO guidance by $0.16 at the midpoint, for range of $6.44, at $6.50 per share.
And we're expecting the same community NOI growth for the full year at 70 basis points, a range of 10.9% to 11.1%.
For the quarter, same community NOI grew 12.4% over last year, driven by our favorable strategic positioning to capture the sustained demand in RVs.
In the RV segment, same community NOI increased by 30.6% for the quarter, as transient RV continued to deliver exceptionally strong results.
The RV Resort business is benefiting from people seeking outdoor experiences at Sun RV resorts, coming from both existing and new customers.
RV is establishing itself as the vacation choice for many travelers, and we have positioned the Sun to capture this demand at scale.
We are continuing to see momentum in forward bookings for transient, as well as annual site conversions.
The stability of our manufactured housing portfolio continues to show the need for attainable housing as evidenced by our home sales volume and applications to live in a Sun community.
Manufactured home sales were another bright spot in the quarter, with total home sales volume up nearly 64% from the prior year, and brokered home sales up over 15% for the quarter compared to the third quarter of 2020.
Our core pillars are delivering superior customer service, maintaining high quality communities and offering an attainable housing option continue to create strong demand to live in a Sun community.
In our marina segment, we are pleased that results continue to track ahead of our underwriting.
Our NOI increases this quarter have been primarily from the continued demand for wet slips and dry storage needs for our members.
Forward demand for dry storage and wet slip rental is ahead of where they were at this time last year, in large part through our best-in-class marina network, locations, and services.
We have also remained active and growing and improving our portfolio.
In the third quarter, through the date of this earning's call, we had 22 properties across our three segments, deploying over $500 million of capital and adding over 7,400 sites.
Our recently acquired four lease portfolio of nine manufactured housing communities in the Midwest, comprises of over 2,500 high-quality sites with expansion growth opportunities and ample room for existing vacancies.
On the marina side, our acquisitions of Puerto Del Rey, Puerto Rico, our largest marina in the Caribbean, continues to strengthen our irreplaceable network of marina assets.
Puerto Del Rey now allows for a Safe Harbor member to remain within the network, while traveling from the Northeast, all the way down to the Caribbean.
Our acquisition teams remain extremely active and we are enthusiastic about the opportunities we are seeing across each of Sun's business segments.
Furthermore, we have a proven track record of maximizing value from our acquisitions as we integrate them onto the Sun platform.
This includes adding value for our operational platform, proprietary technologies, the scale of our marketing and booking platforms, including Campspot and potential repositioning of acquired properties.
As the leading industry consolidator, we believe our cycle tested ability to create value through acquisitions, will continue to result in attractive accretive growth.
This activity is supported by the ongoing proactive focus and maintaining financial flexibility.
Additionally, we are continually evaluating our portfolio for assets which no longer fit with our long-term strategic and growth objectives.
To that end, in the third quarter, we completed the disposition of six assets or total sales price of 162 million, representing a blended cap rate, the low fours, that further demonstrates the value of Sun's portfolio.
We have a deep bench of incredibly talented team members, a well positioned balance sheet, and a healthy pipeline and internal and external growth opportunities, and we remain optimistic in our ability to deliver on each of our performance objectives.
Sun delivered a strong third quarter across the board, outperforming our previous expectations.
Our results reflect the combination of the stability of our best-in-class portfolio, as well as the contributions from our growth initiatives across all three of our business segments.
For the third quarter, combined same community manufactured housing and RV NOI increased 12.4% from the third quarter 2020.
The growth in NOI was driven by a 12.8% revenue gain, supported by a 150 basis point increase in occupancy, to 98.9% and the 3.7% weighted average rental rate increase.
Our expenses were up 13.7% from the prior year.
Same community manufactured housing NOI increased by 2.6% from 2020, and same community RV NOI increased by 30.6%.
And our RV growth was 15.2% for the quarter as a result of a 5% rental rate increase and the effect of over 100 conversions to annual leases over the trailing 12 months.
Our retransient revenues were up 29% compared to last year.
This is on top of the 5% transient growth we experienced in the third quarter of 2020 over 2019 when we began to see the benefits of travelers who are seeking drive-through vacation options and took advantage of our resorts in desirable destinations.
When we issued second quarter results in late July, we shared the transient RV revenue for the second half of the year was 15.2% ahead of the original budget.
Today, an accounting for the third quarters actual contribution, it has accelerated to 18.3% ahead of original budget.
As of this earnings call, our fourth quarter transient RV revenue is 19.6% ahead of the original budget.
The increased levels of consumer engagement discussed last quarter have continued.
Year-to-date, RV website traffic is up 10% compared to last year and 120% compared to 2019.
And we have seen our social media following and interaction continue to grow with more than 1.4 million followers on the three major platforms; Instagram, Facebook and TikTok.
Our best salespeople have always been our residents and guests and their reach to spread the word has been meaningfully amplified through our social media engagement.
We have also continued to sign up members to our pilots Sun RV resorts loyalty program.
And while it's still in its early days, initial interest and feedback has been very positive.
In short, we believe we are seeing strong evidence of two important trends.
First, that many travelers are learning now and trying out an RV vacation; and second, once travelers have discovered their sunnier side through an RV vacation, it becomes part of their future vacation considerations.
Additionally, Sun has simplified the reservation process with our Campspot platform, which in turn enhances the demand for RV vacations at Sun RV resorts.
With respect to our total MH and RV portfolio, we continue to pursue our strategy of filling existing vacancy and creating additional revenue producing opportunities through expansion and conversions.
In the third quarter, we gained 576 revenue producing sites.
Of our revenue producing site gains, over 430 were transient RV sites converted to annual leases, with the balance being added to our manufactured housing expansion communities.
We have now converted almost 1,200 transient RV sites to annual leases year-to-date, which exceeds any prior full year figure and demonstrates the successful execution of this internal growth lever.
The RV site conversions result in an average 50% increase in site revenues during the first year of conversion, with an additional benefit of transient site scarcity pushy [Phonetic] rates.
Moving on to new construction.
In the third quarter, we delivered over 320 new sites, approximately 70% of which were Greenfield ground up developments, and the remainder were expansions to existing communities.
One of the ground-up developments delivered this quarter was the next phase of Smith Creek Crossing, a manufactured housing community in Granby, Colorado.
The first phase of 82 sites has been filling up rapidly since opening a year ago, and we anticipate this next phase to continue to see the high demand for attainable housing in the area.
And home sales in the third quarter were also strong.
Home sales volume was up 64% year-over-year as we sold more than 1,100 homes in the quarter.
These results are a clear reflection of the value proposition that the Sun manufactured housing community offers; the healthy demand for these homes and the home value is maintained in our communities.
Applications to live in a Sun community are up 13.2% year-to-date and we anticipate we will continue to see strength in our manufactured housing business, given the tight housing market and the demand for quality attainable housing.
Turning to the marina business, we ended the quarter with 120 properties comprising nearly 45,000 wet slips and dry storage spaces, which includes the acquisition of six properties for approximately $250 million completed in the third quarter.
Same marina rental revenue growth for the portfolio of 75 properties owned and operated by Safe Harbor since the start of 2019, with 17.8% for the nine months of 2021 over 2019.
This is a CAGAR increase in rental revenue of 9.9% for the quarter and 8.5% year-to-date through the end of September 2021.
Better than expected performance in the Marina portfolio continues to come from demand for Wet slips and dry storage spaces.
We have also witnessed higher margins on the service business with Water Del Marina Center and drive being the leading contributors to this outperformance.
Great service creates stronger slip rental demand and higher member retention.
In summary, Sun's growth engines continue to deliver strong results.
Our internal levers are driven by the fundamentals of Sun's operating platform and by expansion site deliveries.
Our total image portfolio stands at approximately 97% occupancy, providing us with more than 200 basis points of occupancy upside, as well as additional growth potential by adding further expansion sites over time.
In the RV business, robust transient demand continues.
We also anticipate continued momentum and conversions of transient annual leases each year.
We expect to build on our successful track record of delivering and filling expansion sites.
We have an inventory of 7,500 expansion sites, a portion of which we intend to strategically deliver each year targeting 10% to 14% unlevered IRRs.
In addition, our external growth pipeline is robust across all three businesses with opportunities to continue to consolidate each industry, as well as pursuing selective ground up developments.
We are pleased for our performance year-to-date and we expect to continue delivering on our objectives.
Karen will now discuss our financial results in more detail.
For the third quarter, Sun reported core FFO per share of $2.11, 31.9% above the prior year and $0.05, ahead of the top end of our third quarter guidance range.
Outperformance was achieved across annual and transient RV and marinas.
During its subsequent to quarter end, we acquired approximately $500 million of operating properties, bringing our year-to-date total to $1.1 billion, adding 38 properties, totaling nearly 12,000 sites.
To support our operations and growth expectations, we have been active in enhancing our balance sheet and in capital markets activity, which provides the capacity and flexibility to pursue our ongoing growth pipeline.
Last quarter, we received investment-grade ratings, which provides us with an additional attractive source of financing.
Subsequent to the end of the third quarter, we issued 600 million of senior unsecured notes in our second bond offering of the year across seven and 10-year maturities.
Additionally, we utilized our ATM program and completed the sale of 21.4 million of forward shares of common stock.
We ended the second quarter with $4.7 billion of debt outstanding at a 3.3% weighted average rate, and a weighted average maturity of 9.6 years.
As of September 30, we had $72 million of unrestricted cash on hand and a net debt to trailing 12 months recurring EBITDA ratio of 4.9 times.
We are raising our full-year 2021 core FFO guidance to a range of $6.44 to $6.50 per share, a $0.16 increase at the midpoint from our prior range.
This increase includes our outperformance in the third quarter with the remainder due to contributions from recent acquisitions and increased expectations across each of our businesses.
We expect core FFO for the fourth quarter to be in the range of $1.24 to $1.30 per share.
We are also increasing full year same community NOI growth guidance to a range of 10.9% to 11.1%, up 70 basis points from the previous midpoint of guidance of 10.3%.
The fourth quarter same community NOI growth guidance is 7.2% to 8%.

user
compname reports q3 core ffo per share $2.11.
q3 core ffo per share $2.11.

assistant