As a nationally known developer-owner of senior living facilities, David Reis has developed, and/or has purchased distressed, continuing care retirement communities (CCRC's) in excess of $1 billion dollars over the past 20-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 rapid 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.
Through 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 (www.HCReit.com) while retaining the operating company, which currently generates approximately $3 billion in annual revenue. David is a member of the newly reconstituted Board of Directors and serves on its finance and compensation committee. Along with his other investments in the senior care space, David continues to hold minority positions in several operating companies that manage and/or own over 400 nursing homes providing care for more than 48,000 patients in 19 states from Maine to Florida.
In addition to building a highly professional long-tenured team, he 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 sits on several non-profit boards. He, his wife of 29 years, and their three children reside in Westchester, NY.
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