Sun Communities, Inc. (NYSE: SUI) announced that Mark E. Patten will become its chief financial officer, effective January 5, 2026. Patten joins the company from Essential Properties Realty Trust, where he served as executive vice president, CFO, and treasurer, bringing more than 35 years of experience in real‑estate finance and capital markets.
Fernando Castro‑Caratini, who has led Sun Communities’ finance organization for nearly a decade, will transition to an advisory role. CEO Charles Young welcomed Patten, noting that his REIT experience and proven track record in capital‑market execution will help the company advance its strategic priorities and sustain growth.
The appointment follows the divestiture of the Safe Harbor Marinas business to Blackstone Infrastructure for $5.65 billion, a transaction that strengthened Sun Communities’ balance sheet by reducing debt, returning capital to shareholders, and providing resources for reinvestment in core manufactured‑housing and RV communities. The company has authorized a share‑repurchase program of up to $1 billion, a program that Patten is expected to help manage and expand.
Sun Communities owns 501 developed properties with about 174,680 developed sites across the United States, Canada, and the United Kingdom. The company’s focus remains on manufactured‑housing and recreational‑vehicle communities, with recent guidance indicating continued demand in these core segments. Patten’s arrival is seen as a signal of continuity in financial stewardship while positioning the firm to pursue future acquisitions and capital‑allocation initiatives.
Trading volume for SUI was elevated on December 16, reflecting investor interest in the leadership change and the company’s ongoing capital‑allocation strategy. The market’s attention underscores the importance of the CFO appointment for stakeholders evaluating Sun Communities’ financial trajectory.
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