Mr. Bacon joined Welltowers Board of Directors in 2016. Welltower, a real estate investment trust ('REIT'), owns interests in properties concentrated in major, high-growth markets in the United States, Canada and the United Kingdom, consisting of seniors housing, post-acute communities and outpatient medical properties. Eight of the companies are still active while the remaining sixteen are now listed as inactive. shankh mitra wife . Shankh and I have worked shoulder-to-shoulder over the last five years and I have witnessed his strong leadership, relentless focus on organizational efficiency and unparalleled approach to capital allocation. We have the utmost confidence in Shankh's strategic vision and leadership and believe he is the right person to guide Welltower as it continues to successfully navigate the current environment and pursue the exciting next phase of growth for the Company. The communities will be operated by StoryPoint Senior Living under a new triple-net master lease. Mitra has also served as senior vice president, finance, and then as senior vice president, investments, before assuming his most recent roles. 5 free lookups per month. There is no executive better suited to lead Welltower at this critical juncture. Tim McHugh. While COVID-19 has presented us with many challenges, the past six months have underscored Welltowers core value proposition: to serve as a strategic, nimble and creative capital allocator by leveraging our operator relationships and data platform. Chief Executive Officer & Chief Investment Officer. Matt McQueen. Mr. Mitra is primarily responsible for capital allocation decisions at Welltower, and brings over a decade of experience in investments, finance and real estate to the Company. According to this definition women are the form of shakti and they are playing different roles in a man's life. WELLTOWER INC. income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. With our highly-motivated team and an ultra-strong balance sheet, we are well positioned to drive significant long-term value for shareholders., Bacon added, I am honored to be named Chairman and look forward to working with Shankh and the rest of the highly-experienced leadership team and board to build upon the foundation Tom laid and deliver significant per-share growth to our shareholders. View source version on businesswire.com: This may be a result of various factors, including, but not limited to: the duration and scope of the COVID-19 pandemic; the impact of the COVID-19 pandemic on occupancy rates and on the operations of Welltower and its operators/tenants; actions governments take in response to the COVID-19 pandemic, including the introduction of public health measures and other regulations affecting Welltower's properties and the operations of Welltower and its operators/tenants; the effects of health and safety measures adopted by Welltower and its operators/tenants related to the COVID-19 pandemic; increased operational costs as a result of health and safety measures related to COVID-19; the impact of the COVID-19 pandemic on the business and financial condition of operators/tenants and their ability to make payments to Welltower; disruptions to Welltower's property acquisition and disposition activity due to economic uncertainty caused by COVID-19; general economic uncertainty in key markets as a result of the COVID-19 pandemic and a worsening of global economic conditions or low levels of economic growth; the status of capital markets, including availability and cost of capital; uncertainty from the expected discontinuance of LIBOR and the transition to any other interest rate benchmark; issues facing the health care industry, including compliance with, and changes to, regulations and payment policies, responding to government investigations and punitive settlements and operators'/tenants' difficulty in cost effectively obtaining and maintaining adequate liability and other insurance; changes in financing terms; competition within the health care and seniors housing industries; negative developments in the operating results or financial condition of operators/tenants,including, but not limited to, their ability to pay rent and repay loans; Welltower's ability to transition or sell properties with profitable results; the failure to make new investments or acquisitions as and when anticipated; natural disasters and other acts of God affecting Welltower's properties; Welltower's ability to re-lease space at similar rates as vacancies occur; Welltower's ability to timely reinvest sale proceeds at similar rates to assets sold; operator/tenant or joint venture partner bankruptcies or insolvencies; the cooperation of joint venture partners; government regulations affecting Medicare and Medicaid reimbursement rates and operational requirements; liability or contract claims by or against operators/tenants; unanticipated difficulties and/or expenditures relating to future investments or acquisitions; environmental laws affecting Welltower's properties; changes in rules or practices governing Welltower's financial reporting; the movement of U.S. and foreign currency exchange rates; Welltower's ability to maintain Welltower's qualification as a REIT; key management personnel recruitment and retention; the impact of our senior leadership transition; and other risks described in Welltower's reports filed from time to time with the SEC. Since joining Welltower in 2016, he has also served as Senior Vice President, Finance, Senior Vice President, Investments, Executive Vice President, Vice Chairman, and Chief Operating Officer before assuming his current role. This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Argentum is the leading national trade association serving companies that own, operate, and support professionally managed senior living communities in the United States. The largest trade he's ever made was exercising 25,444 units of Welltower stock on 15 February 2022 worth over $1,714,671. Executive Vice President - General Counsel & Corporate Secretary . In this role, Mr. Bacon will lead the Board and partner with Mr. Mitra and the leadership team as they execute the Company's strategy to create long-term shareholder value. We wish them all the best in their future endeavors., The Public Storage Board continuously reviews our Board composition to ensure that we are aligned with the interests of our stakeholders, and todays announcement follows engagement and input from our shareholders, added Mr. Havner. McHugh mentioned the transition of five of the planned nine properties from Capital Senior Living to StoryPoint Senior Living as part of the first phase of an agreement with Capital Senior Living. Figured I'd Blogs - Speaking Tree Rudra Centre presents Divine Rudraksha Rings in Pure Silver, with separate elegant designs for Men and Women. from Yale Law School. Since the start of the pandemic, Shankh's unyielding focus on portfolio performance and optimization has never been more evident. Mr. Mitra owns over 1,666 units of Welltower stock worth over $467,943 and over the last 5 years he sold WELL stock worth over $0. Mr. Mitra served as Senior Analyst at Citadel Investment Group from April 2012 to June 2013 and Fidelity Investments from June 2009 to March 2012. While COVID-19 has presented us with many challenges, the past six months have underscored Welltowers core value proposition: to serve as a strategic, nimble and creative capital allocator by leveraging our operator relationships and data platform. With deep real estate investing experience, corporate governance expertise, and proven track records as public company leaders and board members, they will bring valuable perspectives and skillsets that complement those of our current Trustees. Shankh Mitra is Chief Executive Officer and Chief Investment Officer of Welltower Inc. and leads the Companys investments, structuring, development, predictive analytics, and asset management efforts. Prior to forming RailField, he spent 19 years at Fannie Mae, most recently serving as the executive vice president of the multifamily mortgage business fromJuly 2005toMarch 2012. TOLEDO, Ohio, Oct. 5, 2020 /PRNewswire/ --Welltower Inc. (NYSE: WELL) today announced that Shankh Mitra has been appointed Chief Executive Officer and will join the Board of Directors, effective October 5, 2020. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. I look forward to working with Shankh, David, Paul and the entire Board to achieve these objectives as we continue to create long-term value for Public Storage shareholders., Mr. Mitra said, Public Storage has built a nationally recognized brand and unmatched scale in the self-storage industry. He was from Morocco and first went to Mecca at the age on 21 in 1335. Mr. Mitra received an MBA from Columbia Business School specializing in Applied Value Investing and a bachelor's degree in Engineering from Jadavpur University. Mr. Williams previously served on the boards of directors of State Auto Financial Corporation, Bob Evans Farms, Inc., and Essendant, Inc. (f/k/a United Stationers Inc.). In April, we elevated Shankh to the roles of vice chair and COO with the intent that he would ultimately succeed Tom as CEO. As of 26 April 2022 he still owns at least 7,208 units of Welltower stock. I would also like to thank Uri, Wayne, and Todays appointments underscore the Companys commitment to continually enhancing its corporate governance, and Im honored to contribute my skills and experience to furthering Public Storages winning culture as a driver of value creation.. After the end of the quarter, in October, the company closed in the first tranche, including 11 properties, for $90 million. Mr. Mitra earned an MBA in Applied Value Investing with Deans List honors from Columbia Business School (CBS) and holds a bachelors degree in engineering from Jadavpur University. TOLEDO, Ohio, Oct. 5, 2020 /PRNewswire/ -- Welltower Inc. (NYSE: WELL) today announced that Shankh Mitra has been appointed Chief Executive Office. Over the past five years, Shankhs investing and operational acumen, complemented by the significant efforts ofTim McHugh,Matt McQueenand a deep bench of senior leaders at Welltower, have put the company in a position of strength. He also held Senior Analyst positions at Citadel Investment Group and Fidelity Investments after beginning his career at PricewaterhouseCoopers. Mr. Neithercut served as Chief Executive Officer of Equity Residential from January 2006 until his retirement in December 2018 and President of the Company from May 2005 to September 2018. The companies were formed over a thirty-three year period with the most recent being incorporated five months ago in February of 2022. Storage Blog, Commercial Real In this role, Bacon will lead the board and partner with Mitra and the leadership team as they execute the companys strategy to create long-term shareholder value. Mr. Mitra is primarily responsible for capital allocation decisions at Welltower, and brings over a decade of experience in investments, finance and real estate to the Company. (business & personal). Welltowers COVID-19 expenses were about $17 million for the third quarter and $61 million for the year as of Sept. 30. Mr. Bacon is a co-founder of RailField Realty Partners, a financial advisory and asset management firm. Most recently he exercised 1,666 units of WELL stock worth $458,350 on 26 April 2022. . All of our forward-looking statements, including those in this press release, are qualified in their entirety by this statement. your request. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause Welltower's actual results to differ materially from Welltower's expectations discussed in the forward-looking statements. We are pleased to welcome Shankh, David, and Paul to the Board, said Ronald L. Havner, Jr., Chairman of the Board of Public Storage. He received his undergraduate degree from Jadavpur University and an MBA from Columbia Business School. Earlier this month, it sold a portfolio of senior housing properties operated by Northbridge Companies for $200 million, rationing a 20% investment in the portfolio. The Company also announced thatKenneth J. Bacon, who has been serving as an Independent Director on the Board since 2016, has been named Chairman. Copyright Wolf Marketing & Media LLC 2002-2023 Healthcare Real Estate Insights. Most recently he exercised 1,666 units of WELL stock worth $458,350 on 26 April 2022. He also held Senior Analyst positions at Citadel Investment Group and Fidelity Investments after beginning his career at PricewaterhouseCoopers. Coronavirus Tips Working and Protection. He joined Welltower in 2016 as Senior Vice President, Finance, and served as Senior Vice President, Investments, Executive Vice President, Vice Chairman, and Chief Operating Officer before assuming his current role. Following these changes, the Board will have appointed five independent Trustees within the last 18 months. Shankh Mitra is Chief Executive Officer and Chief Investment Officer of Welltower Inc. and leads the Company's investments, structuring, development, predictive analytics, and asset management efforts. Sign up for a free account. Over the past five years, Shankhs investing and operational acumen, complemented by the significant efforts ofTim McHugh,Matt McQueenand a deep bench of senior leaders at Welltower, have put the Company in a position of strength. Although the last seven months have been very challenging for the senior housing triple net operators, the sequential stabilization we saw between the second and third quarter, along with relief funds from [the Department of Health and Human Services] to be received in the fourth quarter, should help our operators find their footing heading into 2021, said Tim McHugh, executive vice president and chief financial officer. Other recent leadership moves at the REIT included Kenneth Bacon, executive chairman of Link Logistic Real Estate, being named chairman of the board, succeeding DeRosa in that role, and Philip Hawkins appointment to the board. To subscribe, please click here: SUBSCRIBE, Posted in Breaking News, Companies & People, REIT Report. Mitra said Welltower has more than $1 billion of acquisitions in its pipeline and that they represent a wide range of transactions. Get contact details including emails and phone numbers "While COVID-19 has presented us with many challenges, the past six months have underscored Welltower's core value proposition: to serve as a strategic, nimble and creative capital allocator by leveraging our operator relationships and data platform. from 8 AM - 9 PM ET. The exception right now, he said, is in independent living, where he said people are taking their time to make a decision. We believe we are making a real impact and anticipate creating exceptional value, Mitra said. We have created something unique at Welltower, and as a result, have become the leading health and wellness real estate platform. Of this total $1,000,039 was received as a salary, $3,920,000 was received as a bonus, $1,500,088 was received in stock options, $5,999,991 was awarded as stock and $333,592 came from other types of compensation. Mitra will retain his CIO title and continue to lead Welltowers data analytics-driven capital allocation and operator relationships. "The Board is pleased to appoint Shankh as CEO," continued Donahue. More information about this error may be available The REIT expects such expenses to remain elevated during the pandemic. The Board is pleased to appoint Shankh as CEO, continued Donahue. He also served as Senior Vice President, Finance, and then as Senior Vice President, Investments, before assuming his most recent roles. After careful thought and consideration of the Company's current position and opportunities ahead, the Board and I have decided that now is the right time for me to hand the reins to Shankh. Mr. Mitra began his career at PricewaterhouseCoopers. . https://www.businesswire.com/news/home/20201213005046/en/. Prior to forming RailField, Mr. Bacon spent 19 years at Fannie Mae, most recently serving as the Executive Vice President of the multifamily mortgage business fromJuly 2005toMarch 2012. On behalf of the entire Board of Directors, I want to sincerely thank Tom for his lasting contributions to the Company. Shankh Mitra - Chief Executive Officer John Burkart - Chief Operating Officer Tim McHugh - Chief Financial Officer Conference Call Participants Vikram Malhotra - Mizuho Steve Sakwa - Evercore. For a woman, a religious, devoted wife, wealthy, all comforts of . I am grateful to Tom for his mentorship and partnership and I deeply appreciate the confidence and trust the Board and my colleagues have placed in me, said Mr. Mitra. Find contact details for 700 million professionals. degree from the London School of Economic and Political Science, and a bachelors degree in Anthropology fromStanford University. "Welltower will continue to strive to be the premier wellness infrastructure company that allocates capital in the path of . Welltower Announces Initial Closing of Real Estate Joint Venture Welltower to Participate in Nareit's REITworld 2022 Annual Total SHO portfolio occupancy declined approximately 30 basis points (bps) during September to approximately 78.4% as of, Experienced consecutive occupancy increases during the last two weeks of September, marking the first period of back-to-back occupancy gains since the start of the pandemic, Total SHO portfolio occupancy declined approximately 150 basis points during the third quarter from approximately 79.9% to 78.4%, as compared to our outlook of -125-175bps, Triple-Net portfolio: collected 98% of rent due in third quarter of 2020, Outpatient Medical portfolio: 93.6% portfolio occupancy at, Since previous update, announced seniors housing and outpatient medical dispositions totaling over. Prior to joining Welltower, he was a portfolio manager investing in real estate securities at Millennium Management, where he managed an accomplished team of investment professionals responsible for bottom-up underwriting of commercial real estate companies and portfolios, security selection, quantitative portfolio and risk management. Lead Independent DirectorJeffrey H. Donahuesaid, Tom and I have known each other for years and he has always been an extremely capable executive. On behalf of the entire Board of Directors, I want to sincerely thank Tom for his lasting contributions to the Company. Welltower is in a very strong position today and has a bright future. The Company invests with leading seniors housing operators, post-acute providers, and health systems to fund the real estate infrastructure needed to scale innovative care delivery models and improve peoples wellness and overall health care experience. There is no executive better suited to lead Welltower at this critical juncture. Mr. Bacon has served as RailField's managing partner since his retirement from the Federal National Mortgage Association ("Fannie Mae") in March 2012. Request an invite to Revere to access this complete profile and connect with 500+ development firms today. Public Storage, a member of the S&P 500 and FT Global 500, is a REIT that primarily acquires, develops, owns and operates self-storage facilities. The Company invests with leading seniors housing operators, post-acute providers and health systems to fund the real estate infrastructure needed to scale innovative care delivery models and improve people's wellness and overall health care experience. shankh mitra wife. His vision of reimagining and reinventing the built environment for effective delivery of health care and wellness services has played an instrumental role in transforming Welltower into the worlds largest health and wellness real estate platform. As Chief Executive Officer & Chief Investment Officer at WELLTOWER INC., Shankh Mitra made $12,753,710 in total compensation. Forward-Looking Statements and Risk Factors. Mitra, who has been serving as Vice Chair, Chief Operating Officer and Chief Investment Officer, succeeds Thomas J. DeRosa, who is stepping down as Chairman and CEO after leading Welltower for. Welltower Appoints Shankh Mitra Chief Executive Officer. Previously, he was a member of the Board of Directors of Bentall Kennedy L.P. until its acquisition by Sun Life Financial of Canada in 2015 and Forest City Realty Trust, Inc. until its acquisition by Brookfield in 2018. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. Mr. Williams said, It is a privilege to be appointed to Public Storages Board of Trustees, and Im excited by the opportunity to build on the Companys long history of success. Shankh has made over 9 trades of the Welltower stock since 2018, according to the Form 4 filled with the SEC. He also held senior analyst positions at Citadel Investment Group and Fidelity Investments after beginning his career at PricewaterhouseCoopers. shankh mitra wifethirteen days cast Posted by on December 20, 2021 (In this Subhashita author by the use of a Simile, friendship with . When Welltower uses words such as may, will, intend, should, believe, expect, anticipate, project, pro forma, estimate or similar expressions that do not relate solely to historical matters, Welltower is making forward-looking statements. GLENDALE, Calif.--(BUSINESS WIRE)-- The proxy statement includes footnotes and explanations of this information plus other information that is pertinent in assessing the overall value and appropriateness of the compensation information. I'm truly excited for Welltower's future and will be cheering for the Company's continued success in the years to come.". Public Storage and Elliott Associates, L.P. (Elliott) have had constructive discussions in recent weeks. Revere is an invite-only digital network for commercial real estate professionals looking to buy or sell a building, finance a project, and expand their network. As a veteran of the REIT space, I recognize the strength of Public Storages business and financial foundation, as well as the talent of the management team and Board. As of October 5, 2020, near-term liquidity totaled $5.3 billion. ", Mr. Bacon added, "I am honored to be named Chairman and look forward to working with Shankh and the rest of the highly-experienced leadership team and Board to build upon the foundation Tom laid and deliver significant per-share growth to our shareholders. The properties continue to be managed by Northbridge. All proxy statements are public filings made available to the general public by the SEC. Previously, he was a member of the board of directors of Bentall Kennedy L.P., until its acquisition by Sun Life Financial ofCanadain 2015, and of Forest City Realty Trust, Inc., until its acquisition byBrookfieldin 2018. Welltower executives and other stock owners filed with the SEC include: Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, Stocks and cryptocurrency portfolio tracker. Mr. Shankh Mitra is an Independent Trustee at Public Storage, a Director, Chief Executive & Investment Officer at Welltower, Inc. and a Member-Real Estate & Infrastructure Counsel at The World Economic Forum USA, Inc. He was Executive Vice PresidentCorporate Strategy of the Company from January 2004 to May 2005, and Executive Vice President and Chief Financial Officer of the Company from February 1995 to August 2004. Since the start of the pandemic, Shankhs unyielding focus on portfolio performance and optimization has never been more evident. We not only see this environment as an opportunity for our smart capital allocation in the financial realm, but also in the human capital area. He is a member of the board of directors of Comcast Corporation, having previously served as lead independent director, and of Ally Financial Inc. 555 W Middlefield Rd, Mountain View, CA 94043 is Shankha's old address. million verified professionals across 35 million companies. Executive Vice President - Chief Financial Officer. document.addEventListener( 'DOMContentLoaded', function () {const newsletterAsset = new HMIRegistration({ publicationId: 47, pubName: "McKnight's Senior Living", view: 'newsletter-asset', bootstrap: document.getElementById('newsletter-asset'), formType : "user-initiated",pubType: "business"});newsletterAsset.mount();}); Please login or register first to view this content.