Sun Communities, Inc. Nominates Mark Denien as Candidate for Election to Board of Directors

Rhea-AI Summary

Sun Communities (NYSE: SUI) has nominated Mark A. Denien as an independent director candidate for its Board of Directors. Denien brings over 30 years of experience in real estate transactions, capital markets, and strategic leadership.

Currently serving on Acadia Realty Trust's Board, Denien previously held executive positions at Duke Realty from 2005 to 2022, most recently as EVP and CFO. During his tenure as CFO (2013-2022), Duke Realty achieved a 500% total shareholder return and secured important credit rating upgrades.

If elected, Denien will join SUI's Audit Committee, leveraging his extensive background from KPMG (16 years) and his proven track record in financial stewardship. His nomination aligns with the company's strategy to enhance Board expertise in finance and real estate sectors.

Positive

• Nomination of highly experienced financial executive with proven 500% shareholder return track record
• Addition of strong audit and real estate expertise to the Board
• Candidate brings valuable experience in credit rating improvements and strategic transformation

Negative

• None.

Southfield, MI, March 13, 2025 (GLOBE NEWSWIRE) -- Sun Communities, Inc. (NYSE: SUI) (the "Company") announced today that its Board of Directors (the "Board") has nominated Mr. Mark A. Denien as an independent director candidate for election at the upcoming annual meeting of shareholders.

Mr. Denien is a seasoned finance executive with over three decades of experience in real estate transactions, capital markets, strategy development, regulatory compliance, risk management, and acquisitions. He currently serves on the Board of Directors of Acadia Realty Trust, where he is Chair of the Audit Committee and a member of the Compensation Committee.

Mr. Denien served in multiple executive roles from 2005 to October 2022 at Duke Realty Corporation, most recently as Executive Vice President and Chief Financial Officer from 2013 to 2022, guiding the company through significant transformation and growth until its acquisition by Prologis. Under his financial leadership, Duke Realty achieved a remarkable 500% total shareholder return over a decade and secured key credit rating upgrades.

Prior to his tenure at Duke Realty, Mr. Denien spent 16 years at KPMG, where he specialized in real estate audit and advisory services, eventually becoming a partner. His deep knowledge of the real estate sector has made him a thought leader in financial strategy, corporate governance, and operational efficiency.

Mr. Denien holds a Bachelor of Science degree in Accounting from Indiana University Bloomington and is a Certified Public Accountant (CPA). If elected, the Board intends to appoint him to the Audit Committee, where his extensive experience in financial stewardship and strategic transformation will bring valuable insights as the Company continues to strengthen the expertise and skill set of its Board.

“We are excited about the prospect of Mark joining our Board of Directors,” said Gary Shiffman, Chairman and Chief Executive Officer. “His deep expertise in finance and real estate, coupled with his proven track record of strategic leadership, would be instrumental as we continue to drive growth and enhance value for our stakeholders.”

Cautionary Statement Regarding Forward Looking Statements:
This press release contains various “forward-looking statements” within the meaning of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended, and the Company intends that such forward-looking statements will be subject to the safe harbors created thereby. Forward-looking statements can be identified by words such as “will,” “may,” “could,” “expect,” “anticipate,” “believes,” “intends,” “should,” “plans,” “estimates,” “approximate,” “guidance,” and similar expressions in this press release that predict or indicate future events and trends and that do not report historical matters.

These forward-looking statements reflect the Company's current views with respect to future events and financial performance, but involve known and unknown risks, uncertainties, and other factors, some of which are beyond the Company's control. These risks, uncertainties, and other factors may cause the actual results of the Company to be materially different from any future results expressed or implied by such forward-looking statements. Such risks and uncertainties include national, regional and local economic climates; risks related to natural disasters, such as hurricanes, earthquakes, floods, droughts and wildfires; existing or potential supply chain disruptions; wars and other international conflicts; difficulties in the Company's ability to evaluate, finance, complete and integrate acquisitions, developments and expansions successfully; the ability to maintain rental rates and occupancy levels; competitive market forces; the performance of recent acquisitions; changes in market rates of interest; changes in foreign currency exchange rates; the ability of purchasers of manufactured homes and boats to obtain financing; and the level of repossessions by manufactured home and boat lenders. Further details of potential risks that may affect the Company are described in the Company’s periodic reports filed with the U.S. Securities and Exchange Commission, including in the “Risk Factors” sections of the Company's Annual Report on Form 10-K for the year ended December 31, 2024.

The forward-looking statements contained in this press release speak only as of the date hereof. The Company undertakes no obligation to publicly update or revise any forward-looking statements included or incorporated by reference into this document, whether as a result of new information, future events, changes in the Company's expectations or otherwise, except as required by law.

About Sun Communities, Inc.

Sun Communities, Inc. is a REIT that, as of December 31, 2024, owned, operated, or had an interest in a portfolio of 645 developed properties comprising approximately 176,390 developed sites and approximately 48,760 wet slips and dry storage spaces in the United States, Canada, and the United Kingdom.

For Further Information at the Company:        
Fernando Castro-Caratini
Chief Financial Officer
(248) 208-2500
www.suninc.com

FAQ

What experience does Mark Denien bring to Sun Communities (SUI) Board?

Mark Denien brings over 30 years of experience in real estate transactions, capital markets, and strategic leadership, including serving as EVP/CFO at Duke Realty where he achieved 500% shareholder returns over a decade.

When will Mark Denien join Sun Communities (SUI) Board if elected?

The election will take place at the upcoming annual meeting of shareholders in 2025, after which he would join the Audit Committee if elected.

What was Mark Denien's track record at Duke Realty before joining SUI?

As EVP and CFO from 2013 to 2022, Denien led Duke Realty to achieve 500% total shareholder return and secured key credit rating upgrades until its acquisition by Prologis.

Which committees will Mark Denien serve on at Sun Communities (SUI)?

If elected, Denien will serve on SUI's Audit Committee, leveraging his financial expertise and strategic transformation experience.