David Reis
Chief Executive Officer

As a nationally known developer-owner of senior living facilities, David Reis (in his capacity as Managing Member of various entities) has developed, and/or has purchased, distressed Continuing Care Retirement Communities (CCRC's), also known as Life Plan Communities, in excess of $1 billion dollars over the past 28-plus years. David has also developed retirement-oriented projects that span the continuum of care from independent living to assisted living to nursing homes. The growth of David's organization has not changed his essential business philosophy: a focus on a select few projects under development at any one time, and a dedication to quality.

A recent Senior Care Development purchase was The Clare, a 53-story CCRC located one block from Michigan Avenue in the heart of downtown Chicago. Under previous ownership, this community was the nation's largest municipal bond default ($225 million) in 2011. SCD, along with its partners in the transaction, purchased The Clare for all cash and turned it around to its present occupancy in excess of 98% while at the same time investing heavily in re-imagining many of its common areas from the lobby to the 53rd floor lounge, thus taking its place as one of the premiere high-rise senior living communities in the country. The majority equity interest of the community was sold to Life Care Services in December 2019 with the SCD member retaining a minority interest. www.TheClare.com

As the Managing Member of his affiliated company (Senior Care Holdings, LLC), David was both a partner and investor in Formation Capital, LLC-led nursing home portfolio acquisitions of approximately 175 nursing homes across 19 states, which were subsequently sold to G.E. Capital in 2006. Following that, in 2007, an affiliate of Senior Care Holdings invested in another Formation Capital-led deal to take Genesis Healthcare Corporation private for $1.4 billion. Genesis owned or managed over 210 nursing/assisted living facilities concentrated primarily in the Northeast. In 2011, the investment group sold Genesis Healthcare's real estate holdings to Health Care REIT (k/n/a WellTower) while retaining the operating company, which, along with its subsequent acquisition of Sun Health Care, was generating approximately $4.6 billion in annual revenue. David became a member of the newly reconstituted Board of Directors and chaired its compensation committee. In February of 2015, David and his fellow investors brought about the culmination of the Genesis growth strategy by combining it with Skilled Healthcare Group, Inc. to create one of the largest post-acute care providers in the country, with management services and/or ownership of more than 500 skilled nursing and assisted/senior living communities in 34 states, and more than 1,800 rehabilitation therapy centers in 47 states. The  company employs nearly 95,000 people and has combined revenue of some $5.5 billion on a trailing 12-month basis. David declined to accept an additional board term in June 2019 when his term expired and left the company at that time.

In addition to building a highly professional long-tenured team, David Reis has formed close relationships with a number of major financial institutions and private equity companies that partner with SCD on various development initiatives. David has also devoted much time and personal resources to philanthropic activities and is an active member of several non-profit boards.

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