Oakmont Senior Living has named a new COO to help execute its rapid growth plans.
The Windsor, California-based senior living provider on Thursday announced it promoted Matt Stevenson to the newly created role of COO. The position is meant to expand the company’s leadership infrastructure, according to Courtney Siegel, Oakmont’s president and CEO.
“Matt will play a key role in ensuring our operating systems and infrastructure are prepared to handle this growth,” Siegel told Senior Housing News. “Matt will continue to interface and forge strategic relationships with our ownership partners and build on the success we’ve had thus far.”
Stevenson is no stranger to the senior housing industry. He first joined Oakmont as senior vice president of operations in 2018. Before that, he worked as vice president of operations for Houston-based Belmont Village. Overall, he has more than 14 years of experience in the senior living industry, and has managed communities in multiple states.
Oakmont has announced several other hirings in recent months, including naming Mandy Curtis vice president of health services.
The announcement comes as Oakmont plans to add 10 communities to its portfolio in various markets across California, in addition to the 11 communities Oakmont has opened in the last two years. Currently, Oakmont operates 33 communities with 3,000 older adults under its care in California and Nevada.
To develop the planned properties, Oakmont is working with California developer OSL Construction. The company has an exclusive relationship with OSL Construction to manage its development pipeline and all of its ground-up construction.
“Our growth in the next 24 months will be through ground-up construction in partnership with OSL Construction,” Siegel said. “Since our inception in 2012, we’ve maintained a strong culture of growth.”
Oakmont has existing relationships with real estate investment trusts Welltower (NYSE: WELL) and Healthpeak (NYSE: PEAK). In the case of Healthpeak, the REIT last month announced an agreement granting it the option to acquire up to 24 of Oakmont’s senior housing development properties, when the owner-operator decides to sell them.
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Welltower also acquired six newly built Oakmont Senior Living communities in California for approximately $297 million, the REIT mentioned in its third-quarter earnings call last October.