George Chapman, the former CEO of real estate investment trust Health Care REIT—now called Welltower (NYSE: HCN)—is back in the senior housing game.
Chapman has teamed up with some of his former HCN colleagues to launch ReNew REIT. The privately held company is based in Toledo, Ohio, and is focused on investing in private-pay independent living, assisted living and memory care communities, according to its LinkedIn page.
ReNew declined to comment for this article.
Chapman is CEO of the new REIT, and its team is rounded out by other Welltower alumni, according to LinkedIn. Executives include Chief Investment Officer John Getchey, who previously was senior vice president of business development at Welltower, and COO Jay Morgan, previously senior vice president of operations at Welltower.
During Chapman’s 18-year tenure with Health Care REIT, the company built a $25 billion portfolio of properties across the United States, Canada and the United Kingdom. He retired in 2014 at the age of 66 and was succeeded by current Welltower CEO Tom DeRosa.
Written by Tim Mullaney