A senior living industry veteran with more than 30 years of experience, including as a CEO, has joined Chicago-based Senior Lifestyle as its top leader for new investments.
The company on Tuesday announced that John Rimbach had joined as chief investment officer. In the role, he will manage the company’s investment strategies and financial growth, with a specific focus on fostering relationships with new investors and developing business strategies that align with the operator’s long-term goals.
Rimbach comes to Senior Lifestyle by way of Health Care Trust Advisors, which is a real estate investment trust (REIT) focused on senior housing and medical office properties. He also founded and was CEO of West Living, a Carlsbad, California-based senior living operator that sold nine communities to MBK Senior Living in 2018 and wound down operations shortly after.
“With his deep industry knowledge and leadership capabilities, we are confident that Rimbach will enhance our investment strategies and drive sustainable growth for the company,” Senior Lifestyle President and CEO Jon DeLuca said.
Rimbach joins Senior Lifestyle as the company is looking to “refocus where we are,” DeLuca has previously said. Senior Lifestyle previously built a portfolio of about 125 communities in the affordable and market-rate senior housing sectors, mostly through new development. But in 2024 DeLuca sees more opportunities to buy properties.
“There are going to be huge opportunities in 2024, probably into 2025, to buy troubled assets, and you’re going to get relatively newer stuff,” he said during the Senior Housing News BUILD conference last year.
He added: “We’re going to continue to focus on buying market-rate communities and developing market rate communities when it’s right.”
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