IRVINE, Calif. — Justin Hutchens, CEO and president of National Health Investors (NYSE: NHI), a publicly traded REIT, has resigned his position. Hutchens is leaving the company to become executive vice president and chief investment officer of seniors housing for Irvine-based HCP Inc., one of the largest REITs in the seniors housing industry.
Hutchens will also relinquish his position on the NHI board of directors. He will continue his work at NHI through the end of August, officially joining HCP on Sept. 8.
Hutchens joined NHI in 2009 and has served as president and CEO since 2011.
“I am proud of the work done over the past seven years to grow and diversify NHI and believe NHI is well-positioned for the future,” says Hutchens. “I remain excited about the direction of the company and wish the entire NHI team all the best.”
Eric Mendelsohn, NHI’s current executive vice president of corporate finance, will take over as interim president and CEO while the company “initiates a search of internal and external candidates” for a permanent replacement, according to Andy Adams, chairman of the board of directors.
“We welcome Justin to HCP and look forward to his leadership of our senior housing and post-acute/hospital portfolios,” says Lauralee Martin, HCP’s president and CEO. “Justin is an accomplished executive with a proven track record in REIT investments and senior care operations.”
Based in Murfreesboro, Tenn., NHI is a REIT specializing in sale-leaseback, joint-venture, mortgage and mezzanine financing of seniors housing and medical investment properties. The company’s stock price closed at $62.87 per share on Monday, Aug. 10, compared with $62.07 a year prior.