CHICAGO — Ventas Inc. (NYSE: VTR), a Chicago-based REIT and the second-largest owner of seniors housing in the United States, has promoted J. Justin Hutchens. The longtime seniors housing executive will maintain his title of executive vice president of seniors housing, but take on the additional role of chief investment officer.
In his expanded role, Hutchens will be responsible for Ventas’ capital allocation strategy and execution across the enterprise in addition to his current responsibility for the company’s seniors housing portfolio. He will oversee both the seniors housing and investments teams and continue to report directly to Debra Cafaro, chairman and CEO.
“By combining the CIO and EVP roles, we are streamlining our executive management structure and enhancing the connection between our investment activity and business operations,” says Cafaro.
With more than 25 years of experience in both REITs and seniors housing, Hutchens has significant investment and capital allocation expertise. He has led Ventas’ seniors housing business since joining the company in early 2020, with responsibility for more than 800 communities representing nearly half of the company’s portfolio.
Hutchens previously served as president and chief investment officer of HCP (NYSE: PEAK) and chief executive officer and President of National Health Investors (NYSE: NHI). Hutchens joined Ventas from HC-One, the U.K.’s largest care homes operator with over 325 locations and over 22,000 employees, where he served as chief executive officer from 2017 to 2020.
Hutchens will assume the responsibilities of John Cobb, who company for undisclosed reasons. Cobb has agreed to remain at the company as a strategic advisor through mid-February.