Sunstone Two Tree, a Westlake Village, California-based developer and operator of rental housing communities in high-growth markets, announced that co-founder and CEO John Maddux will transition to the role of executive chairman effective, June 18.
According to the company, Maddux’s change of duties is taking place so he can serve for the next three years as the Mission President of the Costa Rica San Jose West Mission for The Church of Jesus Christ of Latter-day Saints. Scott Maddux, the company’s president, will assume the role of CEO.
“I am looking forward to this new chapter and the opportunity to work with the young missionaries and the wonderful people of Costa Rica,” said John Maddux. “At the same time, I look forward to continuing the work we started in my new role as executive chairman. I am proud of Sunstone Two Tree, our management team, and all we have accomplished since our founding in 2012. The company has become a formidable owner, operator and fund manager in the rental housing space and has successfully expanded during a challenging period for the real estate industry.”
Scott Maddux served as president of Sunstone Two Tree since March 2023 following the merger between Sunstone Properties Trust and Two Tree Capital, the latter which he co-founded to pursue the emerging build-to-rent market.
“I am grateful for the opportunity to lead the company into its next phase of growth,” said Scott Maddux. “We are fortunate to have an incredibly talented group of individuals working at this company and I look forward to continue developing and expanding the team as we scale our platform.”
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