Sun Communities, Inc. Announces New Leadership Appointment
Sun Communities, Inc. (NYSE: SUI) has recently made a significant announcement regarding its executive leadership. This decision follows a carefully planned management succession process that reflects the company’s commitment to maintaining excellence in its operational leadership. Charles D. Young has been named the new Chief Executive Officer, effective from October 1, 2025, succeeding the venerable Gary A. Shiffman, who has dedicated over 40 years to the company.
Meet Charles D. Young
Charles D. Young brings a wealth of experience to his new role. With over 25 years of leadership in real estate and investment, he has established a strong reputation within the industry. His most recent position was as President of Invitation Homes Inc., where he played an instrumental role in overseeing the company’s operations. His extensive background also includes significant roles at Starwood Waypoint Homes and Mesa Development, adding depth to his professional profile.
Educational Background
Mr. Young holds a Bachelor of Arts in Economics and an MBA from the prestigious Stanford University’s Graduate School of Business. His academic achievements complement his professional experience, providing him with a solid foundation for his leadership at Sun Communities.
Transition Period
During this transition, Gary A. Shiffman will continue to serve as Non-Executive Chairman of the Board, ensuring a smooth handover. His leadership has been pivotal in transforming Sun Communities into a prominent player in the manufactured housing and recreational vehicle markets. Under his guidance, the company executed its initial public offering in 1993, significantly expanding its portfolio and market presence.
Achievements Under Gary A. Shiffman
Under Mr. Shiffman’s direction, Sun Communities achieved remarkable milestones, including:
- A staggering growth in market capitalization from approximately $100 million at its IPO to over $16.5 billion.
- Expanding a 31-property portfolio into more than 500 manufactured housing and recreational vehicle communities across North America and the United Kingdom.
- Delivering a total return exceeding 4,100% from its IPO through mid-2025.
- Maintaining consistent Same Property average annual NOI growth of 5.3% over the past 25 years.
Looking Ahead
The Board of Directors expressed confidence in Mr. Young’s capabilities. Tonya Allen, co-Chair of the Board’s CEO Succession Planning Committee, highlighted his rich understanding of real estate operations and strategic acumen, positioning him well to lead Sun Communities into its next growth phase.
Future Goals for Sun Communities
As Mr. Young steps into his role, he emphasizes his excitement about the future of Sun Communities. He aims to build on the solid foundation established by Gary and the team, focusing on delivering long-term value for shareholders, residents, and employees alike.
About Sun Communities, Inc.
As a leading real estate investment trust (REIT), Sun Communities, Inc. owns and operates a diverse portfolio comprising 502 developed properties, totaling around 174,850 developed sites across the United States, Canada, and the United Kingdom. The company's commitment to quality and expansion reflects its vision to be at the forefront of the industry.
Frequently Asked Questions
Who is the new CEO of Sun Communities?
Charles D. Young has been appointed as the new CEO, effective October 1, 2025.
What was Gary A. Shiffman's role in Sun Communities?
Gary A. Shiffman served as the CEO for over 40 years and will transition to Non-Executive Chairman of the Board.
What are Sun Communities' main business operations?
Sun Communities operates manufactured housing and recreational vehicle communities, focusing on providing quality living environments.
What significant achievements have occurred under Shiffman's leadership?
Key achievements include significant portfolio expansion, a remarkable market capitalization increase, and delivering high returns to shareholders.
Where is Sun Communities headquartered?
Sun Communities is headquartered in Southfield, Michigan.
