Movers & Shakers: Former Brookdale Exec Joins New Perspective Senior Living

HCP Board Officially Elects New CEO, President

After making the announcement in November, the HCP Inc. (NYSE: HCP) board of directors officially elected Tom Herzog as a board member and CEO, and Justin Hutchens as the company’s president. Both elections were effective Jan. 1.

Herzog previously served as CFO since rejoining the company in June, and also served as the company’s CFO from 2009 to 2011. He will report to Mike McKee, HCP’s executive chairman. Hutchens, who served as chief investment officer, will also report to McKee.


“The board is pleased to officially announce the promotions of Tom and Justin as part of our new generation of leadership at HCP, representing one of our key strategic goals,” McKee said in a news release. “They bring invaluable skills and experience that will continue to be instrumental in executing our long-term strategic plan. We remain committed to continue to drive improved performance and build shareholder value.”

The elections follow the departure of HCP’s former CEO Lauralee Martin, who stepped down from her role in July. McKee served as interim president and CEO from that point to the elections. HCP has retained Korn Ferry, a global executive recruiting firm, which has initiated a search for a new CFO.

Former Brookdale Exec Joins New Perspective Senior Living


New Perspective Senior Living announced that former Brookdale Senior Living (NYSE: BKD) executive Chris Hyatt joined the company as partner, investor and COO.

In the new position, Hyatt will be responsible for the day-to-day operations of the organization. He has nearly 20 years of experience in the industry, most recently serving as executive vice president of operations support for Brookdale. Before that, he was executive vice president and COO at Emeritus Senior Living, which merged with Brookdale in 2014. He began his career with Emeritus in 1998.

In addition, Hyatt has served on the board of directors of industry association Argentum, and he currently serves as secretary and treasurer on the board of the Argentum Senior Living Certification Commission. He is also an active member of the American Seniors Housing Association (ASHA) and the National Investment Center for Seniors Housing and Care (NIC).

“I am excited to welcome Chris to the team,” New Perspective Senior Living President and CFO Ryan Novaczyk said in a news release. “He believes what we believe and will be an invaluable resource in helping put the resident first in everything we do.”

New Perspective Senior Living is a family-owned company that develops and operates senior living communities in Minnesota, North Dakota, Wisconsin, and Illinois. The Minneapolis-based company currently operates 20 communities.

Greystone Real Estate Advisors Adds New Member to Seniors Housing Advisory Team

Greystone Real Estate Advisors added Justin Ridnour to its seniors housing advisory team in Dallas, Texas. He takes on the role of director of investment sales.

Ridnour has nearly two decades of experience in commercial real estate sales advisory experience. He previously owned Ridnour Partners LLC, which focused primarily on the seniors housing sector and also included brokerage and construction services. He also worked for publicly traded REITs and family office development firms.

In his new role at Greystone, Ridnour will expand the group’s capabilities for full-services sales and finance advisory to owners and investors of seniors housing. He will also work to increase the group’s national footprint.

“Justin’s unique perspective on the entire life cycle of commercial real estate, from development to acquisition and disposition, will be a true asset to our growing seniors advisory platform,” Mike Garbers, managing director at Greystone Real Estate Advisors, said in a news release.

K4Connect Expands Board of Directors

K4Connect, a technology company that creates solutions meant to serve and empower older adults and individuals living with disabilities, expanded its board of directors with the addition of Ben Yu, Ph.D., managing director at Sierra Ventures, and Stephen Morton, a veteran senior care executive and founder of Ravn Senior Solutions.

Morton has more than 30 years of experience building, leading and managing senior living and care companies. He was previously president and CEO of Bell Senior Living, and before that, served as co-founder, president and COO of Southern Assisted Living Inc.

Yu is currently managing director at Sierra Ventures, a Silicon Valley venture fund that has raised over $1.2 billion for investments in early stage startups.

“I am personally delighted that both Steve and Ben are joining the K4Connect board,” K4Connect Co-Founder and CEO Scott Moody said in a news release. “They both bring significant industry and startup experience to our team. Steve’s expertise within the senior living sector will provide unparalleled insight into creating products that truly benefit older adults and senior living community operators. Ben adds a tremendous depth of experience in building groundbreaking technologies and can help K4Connect become a successful market leader. …We are extremely fortunate to have both as part of our team.”

The board expansion comes as a result of K4Connect’s recent $8 million Series A funding, which was led by Intel Capital.

Presbyterian Communities and Services Announces New Executive Team Members

Presbyterian Communities and Services, a faith-based, not-for-profit seniors housing and care organization, named Steven Ailey as CFO and Scott Polzin as corporate director of operations.

Ailey comes to Presbyterian Communities and Services from Greystone Communities, where he most recently served as corporate vice president. Polzin comes to the organization from The Stayton at Museum Way, where he was executive director of the not-for-profit retirement community.

“I have worked alongside both Steve and Scott over the years in various senior living roles, and I have witnessed their leadership and management skills firsthand,” President Tim Mallad said in a news release. “They have helped not-for-profit organizations excel, and I am excited to have them both join our team. Both Steve and Scott feel connected to our mission and to seniors, and I feel strongly that they will assist Presbyterian Communities and Services in continued growth and success in the future.”

Presbyterian Communities and Services has two continuing care retirement communities (CCRCs) and a hospice business, with another hospice and palliative care center under construction.

Lifespace Communities Names Kevin Knopf as Regional Director of Operations

Lifespace Communities, the not-for-profit operator of 12 CCRCs in seven states, named Kevin Knopf as its new regional director of operations.

In the new role, Knopf will be responsible for leadership, strategic planning and day-to-day operations for the five Lifespace communities in Florida. He comes to Des Moines, Iowa-based Lifespace Communities with more than 29 years of experience in senior living operations leadership, having served in vice president and senior executive director roles of organizations including Brookdale Senior Living, Erickson Living, Watermark Communities and Sunrise Senior Living.

“Lifespace Communities has much to offer to impact the quality of life for older adults with an eye toward growth in the organization,” he said in a news release. “I’m excited to use my operational experience and passion for serving seniors to strengthen our market positions, and to ensure a high level of resident and team member engagement at our communities.”

Written by Kourtney Liepelt

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