Seniors Housing Business

APR 2018

Seniors Housing Business is the magazine that helps you navigate the evolution of the seniors housing industry.

Issue link:

Contents of this Issue


Page 22 of 48

22 Seniors Housing Business n April 2018 People Accelerating success. Colliers International knows how to guide you through the intricacies of a seniors housing transaction. Phone +1 800 858 5904 Email: Industry pioneer Tony Mullen passes away at 61 Newtown Square, Pa. — Tony Mullen, CEO of Newtown Square- based seniors housing developer Royal Star Properties, passed away March 10 following a heart attack at age 61. Mullen entered the seniors hous- ing industry in 1984 and had long been an industry icon. He was a longtime member of the American Seniors Housing Association (ASHA), and helped to co-found the National Investment Center for Seniors Housing & Care (NIC). At NIC, he helped conceive and create the MAP data analytics program. "During his 34-year career he be- came one of the foremost experts in his field for analyzing the financial and logistical metrics for develop- ing senior living projects," accord- ing to his obituary. "The NIC MAP data and ana- lytics service would not be what it is today as the trusted source of industry data were it not for the passion, insights and dedication of Tony Mullen to provide mean- ingful transparency for investors through reliable, timely data," says Bob Kramer, former NIC CEO. "NIC and the entire senior living field owe Tony an abundance of gratitude for his immense contri- butions." He was also known as an expert in the field of seniors housing mar- keting. He founded the Advanced Sales and Marketing Summit, a conference now in its 22nd year. Mullen also helped create the next generation of seniors hous- ing professionals. He co-founded the master's degree programs for seniors housing and care at Johns Hopkins University and the Uni- versity of Maryland. RMR Group founder Barry Portnoy passes away at 72 Newton, Mass. — Barry Portnoy, the founder and chairman of The RMR Group, passed away Feb. 25 at age 72. The cause of death was not disclosed. RMR is an alterna- tive asset management company that primarily provides management services to publicly traded REITs and real estate re- lated operating companies. RMR's group of companies includes pub- licly traded seniors housing REIT Senior Housing Properties Trust (NASDAQ: SNH) and publicly traded seniors housing operator Five Star Senior Living Inc. (NAS- DAQ: FVE). SNH is the fifth largest owner of seniors housing in the United States with 35,018 units, while FVE is the fifth largest operator with 24,476 units as of June 1, 2017, ac- cording to the American Seniors Housing Association. Portnoy founded The RMR Group in 1986 and served as its chairman and as a managing direc- tor since its inception. He was also a trustee or managing director of its multiple companies. RMR has approximately $30 bil- lion of total assets under manage- ment. Adam Portnoy, Barry's son, will continue to lead RMR as its president and CEO. Heritage Senior Living promotes Pierre Verger to chief operating officer West Allis, Wis. — Heritage Se- nior Living, an operator based in West Allis, near Milwaukee, has promoted Pierre Verger from vice president of operations to chief op- erating officer. This move comes amid a period of growth at the organi- zation, which has add- ed 10 members to the corporate team in the past year and plans to open a new community in Muskego in late summer, its 16th location. Verger joined Heritage Senior Living in 2016 and has implement- ed an array of initiatives across the board. He has formed strategic partnerships with both local and international companies, and over- saw a $500,000 investment in tech- nological improvements through- out the organization. Verger has more than 20 years of experience in the hospitality and healthcare industries, includ- ing owning a four-star restaurant/ hotel and overseeing operations for 26 nursing homes. In his new position, Verger will focus on the company's continued growth and development across the board, including overseeing the summer 2018 opening of Heritage Muskego, which will feature inde- pendent living, assisted living, en- hanced assisted living and memory care. Verger will also create part- nerships and relationships with other healthcare industry leaders, as well as develop programs to bring residents' experiences closer to resort-style living. JCH hires industry veteran Michael Mooney Anaheim Hills, Calif. — JCH Con- sulting Group, an Anaheim Hills- based brokerage firm, has hired Michael Mooney as associate bank- er. His responsibilities will include originating new business and ex- ecuting transactions. Mooney spent 13 years at the na- tional seniors housing and health- care valuation and consulting firm Tellatin, Short and Hansen, in ad- dition to four years doing mergers and acquisition work. He worked on over 500 appraisal and market study assignments in 36 states on independent living, assisted living, memory care and skilled nursing facilities. Mooney resides in Oregon and has worked extensively across the country, primarily in the Pacific Northwest. He received a bach- elor's degree in accounting and finance from the University of Or- egon's Charles H. Lundquist Col- lege of Business. HealthTrust hires Michael Jones as CFO Sarasota, Fla. — HealthTrust, a seniors housing appraisal and ad- visory firm based in Sarasota, has hired Michael Jones as chief finan- cial officer. Jones most recently served as vice president of portfolio management for Care Capital Properties (NYSE: CCP), a publicly traded REIT. Sa- bra Health Care REIT (NASDAQ: SBRA), another publicly traded company, purchased CCP in 2017. Jones brings seniors housing ex- pertise in mergers, acquisitions, capital structure and small com- pany growth. Before CCP, he was founder and CEO of Healthtique Group and COO of Formation Cap- ital. He earned an MBA from Wake Forest University. HealthTrust was previously owned by Sabra, but recently com- pleted a buyout from the company. The terms of that transaction were not disclosed.

Articles in this issue

Links on this page

Archives of this issue

view archives of Seniors Housing Business - APR 2018