Owners and operators considering an exit strategy today face a challenging economic environment. Higher interest rates have slammed capital markets. Valuations are in flux. Transactions have slowed. And the pool of potential buyers has dwindled. As an alternative to an outright sale to a third-party, an often-overlooked option is an exit to an employee stock ownership plan (ESOP). These plans allow business owners to sell all or part of the company’s stock to employees, allowing owners to diversify wealth away from the business while limiting their future liability. Ultimately, …
People
Law Firm Hinshaw & Culbertson Names Adam Guetzow as Co-Practice Group Leader of Healthcare
CHICAGO — Hinshaw & Culbertson LLP, a Chicago-based law firm with offices around the world, has neamed Adam Guetzow as co-practice group leader of the firm’s national healthcare practice. Guetzow will serve alongside current interim practice group leader Stephen Moore. As part of his new role, Guetzow will lead the firm’s strategic expansion of its current healthcare practice, including an emphasis on aging services and long-term care capabilities. Hinshaw’s aging services practice has grown exponentially in the past few years in response to industry expansion and a growing need for …
ANNAPOLIS, Md. — The National Investment Center for Seniors Housing & Care (NIC), an Annapolis-based nonprofit providing data to the seniors housing industry, has appointed five new members to its board of directors: Bre Grubbs, partner and chief strategy officer of Leisure Care, who becomes assistant secretary Vikas Gupta, senior vice president of acquisitions and development at Omega Healthcare Investors Inc. Severine Petras, CEO and co-founder of Priority Life Care Kathy Ryser, senior director of seniors housing underwriting and credit at Freddie Mac Aron Will, vice chairman of CBRE, who …
ALEXANDRIA, Va. — Argentum, an Alexandria-based trade association serving the seniors housing industry, has elected Sevy Petras, CEO and co-founder of Priority Life Care, to its board of directors. As an Argentum board member, Petras will help support and enhance the organization’s advocacy efforts on behalf of the industry on a number of key initiatives, including working to increase access and affordability of assisted living.
CHARLOTTESVILLE, Va. — Commonwealth Senior Living, a Charlottesville-based operator, has named Reuben Canty, Mark Kane and Rick Barley as regional vice presidents with the company. These new regional leaders bolster Commonwealth’s operational and management teams as it continues to grow its portfolio and seeks to provide the best possible support to its communities within the eastern United States. Additionally, the company promoted Kim Hurt to vice president of operations. Canty joined Commonwealth Senior Living in 2015 as a resident care director. He was promoted to executive director where he served …
WALTHAM, Mass. — EPOCH Senior Living, a Waltham-based operator, has promoted Michael Gordon to chief investment officer. Gordon has been a member of EPOCH Senior Living’s leadership team for nearly 25 years. Most recently, he was senior vice president of planning and development. Over the course of his career with the company, he has overseen and been involved with the long-range planning, budgeting and development of 16 of EPOCH Senior Living’s properties. As CIO, Gordon will be responsible for focusing on driving new initiatives, improving market research, procurement and employee …
ANNAPOLIS, Md. — The National Investment Center for Seniors Housing & Care (NIC), an Annapolis-based nonprofit providing data to the seniors housing industry, has announced its chief economist Beth Mace will transition to a consultant and special advisor role. Mace will focus exclusively on monitoring and reporting changes in the economy and the capital markets impacting seniors housing investments and operations. Mace will analyze and report on conditions in the capital markets, providing transparency and insights to help seniors housing owners, operators and investors make crucial decisions during a particularly …
DALLAS and ST. LOUIS — Berkadia has hired David Fasano and Ross Sanders as managing directors to its seniors housing and healthcare platform. Fasano will be based in Dallas and Sanders will be based out of St. Louis. They both will report to Mike Miner. Both Fasano and Sanders join Berkadia from Newmark, where they served as senior managing directors and were responsible for seniors housing-related investment advisory throughout the United States.
ST. LOUIS — Ascension Living has named Christopher Caserta as its new chief executive officer. He will provide strategic and operational leadership over Ascension’s diversified seniors housing services, including independent living, assisted living, memory care, skilled nursing and short-term rehabilitation for the St. Louis-based company. Caserta is an industry veteran with over 20 years of experience in regional and national health systems and post-acute care organizations. Previously, he served as the vice president of strategy and marketing in the continuing care division at Trinity Health. He led the division’s national …
Your Caregiver Team Includes the Building Itself
While seniors housing operators grapple with occupancy issues, labor challenges and margin squeeze, the building’s role within the industry is sometimes overlooked. But innovative building design and new technologies can help improve staff efficiency, optimize resident care and increase revenue. “The senior living industry is evolving,” says Gaurie Rodman, vice president of real estate strategy and development at Direct Supply, a provider of equipment and services to the senior living and healthcare industries. “Buildings are taking on a role beyond shelter.” New building designs are being created through an efficiency …