Health Care REIT Hires PRE Students
Students from the Program in Real Estate at Cornell University typically find employment in investment banking, consulting, private equity, real estate investment trusts (REIT), and residential and commercial development companies. Recently, Sam Bechthold, Wylie Gibbins and Isaac Losh from the PRE 2011 class accepted offers of employment with Health Care REIT. Christy Stone, Vice President, Corporate Development at Health Care REIT, led the hiring process and commented, “Health Care REIT (NYSE: HCN) is committed to leadership and growth. We are looking for people who can build on our track record of performance and lead the company to the next level of results. In our hiring process, we focus on people with a passion for excellence, creative problem-solving skills, strong analytical capabilities and the ability to develop and manage relationships. We believe that Sam Bechthold, Wylie Gibbins and Isaac Losh fit all of these criteria. We look forward to welcoming them to the HCN team and to their contributions to the business.”
Health Care REIT, Inc. (NYSE: HCN), an S&P 500 company with headquarters in Toledo, Ohio, is a REIT that invests in senior housing and health care real estate, including independent living/continuing care retirement communities, assisted living facilities, skilled nursing facilities, hospitals, long-term acute care hospitals, and medical office buildings. The company was the first REIT to invest exclusively in health care facilities, and is currently experiencing significant growth. The company invested $3.2 billion in assets in 2010 and has invested $3.7 billion in 2011 as of March 2011, demonstrating their impressive growth. The company portfolio consists of 880 properties representing nearly $13 billion in value. Health Care REIT’s strong growth and substantial portfolio represents an excellent opportunity for PRE students to join an expanding company with significant transaction volume in the expanding area of health care real estate.
“PRE has prepared me well for my role analyzing investment opportunities at Health Care REIT. Classes like ‘Real Estate Finance and Investments’, and ‘Transactions and Deal Structuring’ have taught me principles and skills that I can apply immediately,” Losh mentioned. In addition, the interdisciplinary nature of the program prepares Bechthold, Gibbins and Losh to enter the workforce performing different real estate roles. A description of the different positions that these students secured at Health Care REIT is as follows:
Sam Bechthold
Title: Asset Manager
Bechthold’s responsibilities will include actively managing a portfolio of senior housing and healthcare properties. This is accomplished through maintaining client relationships; performing financial statement and liquidity analysis; evaluating corporate management teams and properties; analyzing portfolio performance and risk; and making restructuring and disposition recommendations. In addition to managing a portfolio of real estate assets Bechthold will work closely with origination, underwriting, accounting and legal teams on transaction structure and terms.
Wylie Gibbins
Title: Rotational Analyst
As a Rotational Analyst Gibbins’ responsibilities will vary throughout an 18 month rotational schedule. The objective of the rotational program is to build broad understanding of Health Care REIT’s business and to identify a role following the 18 month period that meets the needs of the business and aligns with the strengths and interests of the individual. Gibbins will likely rotate through the asset management, development services, capital markets and investment analysis groups. In those roles his responsibilities will vary and will include investment underwriting, credit analysis, business plan analysis, management team analysis, joint venture management and reporting, RFP analysis and response, asset management and portfolio monitoring. This wide range of experience will provide Gibbins with a unique understanding of Health Care REIT’s business, and position himself to be a strong contributor in the company.
Isaac Losh
Title: Originations Analyst
Losh will be working with the acquisitions team providing originations support and deal sourcing. His responsibilities include analyzing and qualifying potential deals to evaluate their attractiveness, applying investment criteria and performing financial analysis to determine viability and strategic fit. Another key responsibility is to manage relationships and maximize contact with operators and clients. This process includes developing presentations and pitch materials to engage prospective clients and operational partners to initiate the investment origination process. Losh commented, “I am excited for the opportunity to join Health Care REIT. I am passionate about health care real estate and the immense growth opportunities in the space. In addition, I feel that I can add value to the team and make a significant contribution in my role in Originations. The Health Care REIT team is extremely smart and collaborative and the exposure that I’ll be getting in acquisitions and deal sourcing provides me with excellent learning and growth opportunities.”
For more information on job placement within the Program in Real Estate please visit http://realestate.cornell.edu/index.php/career/placement_services/job_placement.