New Senior Investment Group Inc has named David Smith as executive vice president and chief financial officer and Bhairav Patel as executive vice president of finance and accounting. The appointments becomes effective January 1, 2019. Previously, both Smith and Patel worked at Fortress.
NEW YORK–(BUSINESS WIRE)–New Senior Investment Group Inc. (“New Senior” or the “Company”) (NYSE:SNR) announced today the appointment of David Smith as Executive Vice President and Chief Financial Officer and the appointment of Bhairav Patel as Executive Vice President of Finance and Accounting. These appointments will take effect as of January 1, 2019, in conjunction with the internalization of the Company’s management function.
Mr. Smith brings 15 years of REIT experience to the Company. Prior to his appointment as Chief Financial Officer, Mr. Smith served as a Managing Director in the Private Equity Group of Fortress Investment Group LLC (“Fortress”), where he led capital markets and investor relations activities for the Company. Prior to joining Fortress, Mr. Smith held various finance, capital markets and investor relations roles at Ventas (NYSE: VTR) and Omega Healthcare Investors (NYSE: OHI), and began his career in the real estate investment banking group at A.G. Edwards.
Mr. Patel has over 15 years of finance and accounting experience. Prior to his appointment as Executive Vice President of Finance and Accounting, Mr. Patel served as a Managing Director of Fortress. At Fortress, Mr. Patel served in various finance and accounting roles, including head of Fortress’s financial planning & analysis group and principal accounting officer of the Company. Mr. Patel will continue to serve as the Company’s principal accounting officer. Prior to joining Fortress, Mr. Patel served as an accounting manager at GSC Group, a credit-based alternative investment manager.
With these appointments, the post-internalization management team, led by Susan Givens as Chief Executive Officer, is in place, and the completion of the internalization remains on track for a January 1, 2019 effective date.
ABOUT NEW SENIOR
New Senior Investment Group (NYSE: SNR) is a publicly-traded real estate investment trust with a diversified portfolio of senior housing properties located across the United States. As of September 30, 2018, New Senior is one of the largest owners of senior housing properties, with 133 properties across 37 states. More information about New Senior can be found at www.newseniorinv.com.