Sun Communities, a real estate investment trust focused on manufactured housing and RV communities, announced a leadership transition set to take effect October 1.
Charles D. Young has been appointed chief executive officer and will also join the company’s board of directors.
Young will take over from Gary A. Shiffman, who is stepping down after four decades at the helm.
Shiffman will assume the role of non-executive chairman of the board, continuing his involvement with the company he helped build into a major REIT platform.
The appointment follows a previously announced succession plan and a comprehensive selection process conducted by the board’s CEO Succession Planning Committee.
“As part of our planned management succession, we conducted a rigorous and thoughtful selection process, and Charles is highly qualified to be Sun Communities’ new CEO,” Tonya Allen, co-chair of the committee, said in a press release.
Young brings more than 25 years of experience in real estate operations, investment, and leadership.
He currently serves as president of Invitation Homes, a single-family home leasing and management firm.
His previous roles include chief operating officer of Invitation Homes and executive positions at Starwood Waypoint Homes, Mesa Development, and Goldman Sachs.
In addition to his corporate experience, Young holds a BA in Economics and an MBA from Stanford University.
He is a member of the boards of Floor & Decor and Stanford University, serving on the latter’s Board of Trustees.
“We are confident in Charles’ ability to lead Sun through its next phase of growth,” said Meghan Baivier, lead independent director of Sun’s board. “On behalf of the Board of Directors, I extend our sincere gratitude to Mr. Shiffman for his dedication leading Sun for over 40 years.”
Shiffman expressed confidence in the transition. “I am very proud of what we accomplished building and leading Sun, and I am confident we are well-positioned to continue to execute on our strategic priorities,” he said. “I am incredibly excited to welcome Charles to Sun as our CEO to take our vision forward.”
Young acknowledged the legacy he will inherit and emphasized his commitment to continuity and long-term value creation.
“I am honored to join Sun Communities as CEO and member of its board of directors, where I will partner with the talented professionals who have built the Company into an industry leader,” he said.
Under Shiffman’s leadership, Sun Communities completed its initial public offering in 1993 and has since expanded from 31 properties to more than 500 across North America and the United Kingdom.
Its market capitalization has grown from approximately $100 million at IPO to more than $16.5 billion as of mid-2025.