About Us

About
Us

Board of Directors

Richard S. Welch, Chairman

Mr. Welch has served as the Chairman of the Board of Directors since November 2020. Mr. Welch is the Managing Director, Head of Healthcare at Colony Capital, Inc., NorthStar Healthcare’s sponsor. Mr. Welch re-joined Colony Capital in 2005 and, over his tenure at Colony Capital, has been responsible for managing certain financial and operational aspects of Colony Capital’s investment portfolio and operating businesses. Prior to joining Colony Capital, Mr. Welch was a Vice President in the Investment Banking Division of Goldman, Sachs & Co., focusing on mergers and acquisitions and debt and equity financings for companies in the real estate, retail, and consumer product industries. Mr. Welch has also served as an independent director and member of the audit and compensation committees of BBQ Holdings, Inc. (NASDAQ: BBQ) since May 2018 and a director of Griffin-American Healthcare REIT IV, Inc. since January 2018.

Mr. Welch received a B.S. degree in Accounting from University of Southern California and an M.B.A. degree from The Wharton School, University of Pennsylvania and is a Certified Public Accountant in the State of California (license inactive).

 

Ronald J. Jeanneault, Vice Chairman

Mr. Jeanneault has served as the Vice Chairman of the Board of Directors since December 2017. Mr. Jeanneault has been the Chief Executive Officer and President of NorthStar Healthcare since November 2014. He previously served as NorthStar Healthcare’s Executive Vice President and Head of Asset Management from March 2012 until November 2014.

Mr. Jeanneault has also been a Managing Director of Colony Capital, Inc. (Colony Capital), and its predecessor, Colony NorthStar, Inc., since January 2017 and previously served as Executive Vice President of NorthStar Asset Management Group Inc., a predecessor of Colony Capital, from July 2014 to January 2017 and as Executive Vice President and Head of Asset Management of the subsidiary through which NorthStar Realty Finance Corp. operated its healthcare business from March 2012 to January 2017.

From June 1999 until January 2012, Mr. Jeanneault served in various positions at Sunrise Senior Living, Inc., or Sunrise, an NYSE-listed senior care provider serving nearly 40,000 residents in communities in the United States, Canada and the United Kingdom, including Senior Vice President and Co-Head of Operations, Vice President of Facilities, Capital Planning, Design Division and Development. From July 1994 to June 1999, Mr. Jeanneault was the Director of Residential and Outpatient Programs for the Kennedy Krieger Institute at the Johns Hopkins Medical Institutions. Prior to 1994, Mr. Jeanneault spent four years with a private and for profit post-acute provider of brain injury rehabilitation services as the Vice President of Operations.

Mr. Jeanneault received his Bachelor of Arts degree from the University of Massachusetts.

 

Jonathan A. Carnella, Independent Director

Mr. Carnella has been one of our independent directors and a member of our Audit Committee since April 2021.

Since 2013, Mr. Carnella has served as a member of the board of DCMS Holdings Inc. and Verve Equity Corporation, Canadian companies that comprise the business of Diversicare Canada, a group of privately-held entities that own and operate approximately 35 seniors housing residences in Canada under the Verve Senior Living brand. From May 2013 through December 2020, Mr. Carnella served as President and Chief Executive Officer of Diversicare Canada. From 2011 to 2013, Mr. Carnella served as President, Chief Executive Officer and a Director of Royal Host Inc., a Toronto Stock Exchange listed hotel owning company. Prior to joining Royal Host, Mr. Carnella served as Executive Vice President and Chief Financial Officer of Fairmont Raffles Hotels International and prior to that he served as Senior Vice President and Treasurer of Host Hotels and Resorts. Mr. Carnella began his career as an investment banker with Lazard and later worked for NatWest Markets, the investment banking division of National Westminster Bank.

Mr. Carnella is a member of the Cornell Council. He holds an undergraduate degree from Cornell University and a Masters in Business Administration from The Wharton School, University of Pennsylvania.

Gregory A. Samay, Independent Director

Mr. Samay has been one of our independent directors and a member of our Audit Committee since June 2011. He was also an independent trustee and member of the audit committee of NorthStar Real Estate Capital Income Master Fund and its feeder funds from March 2016 to October 2020. Mr. Samay served as Chief Investment Officer for the Fairfax County Retirement Systems consisting of three public pension systems with a combined $6 billion of assets from July 2013 (having previously served as an Investment Officer since July 2011) to July 2016.

Mr. Samay served as Executive Director and Chief Investment Officer for Arlington County Employees’ Retirement System, a $1.3 billion public pension plan, from August 2005 to September 2010. Mr. Samay served as Assistant Treasurer for YUM! Brands, Inc. (NYSE: YUM), a quick service restaurant company, from 2003 to 2005. From 1998 to 2002, he served as Vice President and Treasurer of Charles E. Smith Residential Realty, Inc., a publicly-traded REIT that merged with Archstone Communities of Denver in 2001 to form Archstone-Smith Trust, a publicly-traded REIT until acquired by Tishman Speyer and Lehman Brothers Holdings Inc. in October 2007. Mr. Samay served as Senior Manager, Capital Markets and Investments, for MCI Corporation from 1996 to 1998. From 1987 to 1996, he held various positions, progressing from Senior Financial Advisor-Corporate Treasury to Assistant Treasurer-Corporate Treasury, for COMSAT Corporation, a global telecommunications company.

Mr. Samay holds a Bachelor of Science in Engineering from Pennsylvania State University in University Park, Pennsylvania and a Master of Business Administration from the Darden School of Business, University of Virginia in Charlottesville, Virginia.

 

Jack F. Smith, Jr., Independent Director

Mr. Smith has been one of our independent directors and the chairman and financial expert of our Audit Committee since June 2011.

Mr. Smith was a partner with Deloitte & Touche LLP, or Deloitte & Touche, from June 1984 until August 2009. He served as the head of the firm’s real estate industry practice for Atlanta, Georgia and the Southeast from June 1996 to June 2007. Mr. Smith began his career as an accountant with Deloitte & Touche in 1973, where his responsibilities included audits, due diligence on acquisitions and mergers, business and accounting advice and assistance in problem resolution. During the course of his career, Mr. Smith has served clients of varying sizes in many different industries, including public and private REITs, real estate developers, merchant builders, real estate investment funds, real estate operating companies and hotels.

Mr. Smith is a member the Tennessee Technological University College of Business Foundation, the American Institute of Certified Public Accountants and the Tennessee and Georgia Societies of Certified Public Accountants. Subsequent to his retirement in 2009, Mr. Smith has engaged in investing in and management of personal real estate and other assets.

Mr. Smith holds a Bachelor of Science in Accounting from Tennessee Technological University in Cookeville, Tennessee and a Master of Business Administration from Emory University in Atlanta, Georgia.

 

T. Andrew Smith, Independent Director

Mr. Smith has been one of our independent directors and a member of our Audit Committee since December 2019.  

Mr. Smith has over 30 years of experience in seniors housing, mergers and acquisitions, real estate, capital markets transactions, corporate finance and healthcare. Mr. Smith served as the Chief Executive Officer of Brookdale Senior Living, Inc. (NYSE) from February 2013 until February 2018, as President from March 2016 until February 2018, and as a member of the Board of Directors from June 2014 until February 2018. From October 2006 to February 2013, Mr. Smith served as Brookdale’s Executive Vice President, General Counsel and Secretary. In addition to his role in managing the company’s legal affairs, Mr. Smith was responsible for the management and oversight of the company’s corporate development functions (including mergers and acquisitions, and expansion and development activity); corporate finance (including capital structure, debt and lease transactions and lender/lessor relations); strategic planning; and risk management. Prior to joining Brookdale, Mr. Smith served as a member of Bass, Berry & Sims PLC's corporate and securities group and as chair of the firm's healthcare group. Mr. Smith previously served as a member of the board of directors of the Nashville Health Care Council, Argentum and the National Investment Center for the Seniors Housing & Care Industry (NIC), and as a member of the executive board of the American Seniors Housing Association (ASHA).

Mr. Smith received his Bachelor of Arts from Vanderbilt University and his Juris Doctor from Southern Methodist University School of Law.

 

Richard S. Welch, Chairman

Mr. Welch has served as the Chairman of the Board of Directors since November 2020. Mr. Welch is the Managing Director, Head of Healthcare at Colony Capital, Inc., NorthStar Healthcare’s sponsor. Mr. Welch re-joined Colony Capital in 2005 and, over his tenure at Colony Capital, has been responsible for managing certain financial and operational aspects of Colony Capital’s investment portfolio and operating businesses. Prior to joining Colony Capital, Mr. Welch was a Vice President in the Investment Banking Division of Goldman, Sachs & Co., focusing on mergers and acquisitions and debt and equity financings for companies in the real estate, retail, and consumer product industries. Mr. Welch has also served as an independent director and member of the audit and compensation committees of BBQ Holdings, Inc. (NASDAQ: BBQ) since May 2018 and a director of Griffin-American Healthcare REIT IV, Inc. since January 2018.

Mr. Welch received a B.S. degree in Accounting from University of Southern California and an M.B.A. degree from The Wharton School, University of Pennsylvania and is a Certified Public Accountant in the State of California (license inactive).

 

Ronald J. Jeanneault, Vice Chairman

Mr. Jeanneault has served as the Vice Chairman of the Board of Directors since December 2017. Mr. Jeanneault has been the Chief Executive Officer and President of NorthStar Healthcare since November 2014. He previously served as NorthStar Healthcare’s Executive Vice President and Head of Asset Management from March 2012 until November 2014.

Mr. Jeanneault has also been a Managing Director of Colony Capital, Inc. (Colony Capital), and its predecessor, Colony NorthStar, Inc., since January 2017 and previously served as Executive Vice President of NorthStar Asset Management Group Inc., a predecessor of Colony Capital, from July 2014 to January 2017 and as Executive Vice President and Head of Asset Management of the subsidiary through which NorthStar Realty Finance Corp. operated its healthcare business from March 2012 to January 2017.

From June 1999 until January 2012, Mr. Jeanneault served in various positions at Sunrise Senior Living, Inc., or Sunrise, an NYSE-listed senior care provider serving nearly 40,000 residents in communities in the United States, Canada and the United Kingdom, including Senior Vice President and Co-Head of Operations, Vice President of Facilities, Capital Planning, Design Division and Development. From July 1994 to June 1999, Mr. Jeanneault was the Director of Residential and Outpatient Programs for the Kennedy Krieger Institute at the Johns Hopkins Medical Institutions. Prior to 1994, Mr. Jeanneault spent four years with a private and for profit post-acute provider of brain injury rehabilitation services as the Vice President of Operations.

Mr. Jeanneault received his Bachelor of Arts degree from the University of Massachusetts.

 

Jonathan A. Carnella, Independent Director

Mr. Carnella has been one of our independent directors and a member of our Audit Committee since April 2021.

Since 2013, Mr. Carnella has served as a member of the board of DCMS Holdings Inc. and Verve Equity Corporation, Canadian companies that comprise the business of Diversicare Canada, a group of privately-held entities that own and operate approximately 35 seniors housing residences in Canada under the Verve Senior Living brand. From May 2013 through December 2020, Mr. Carnella served as President and Chief Executive Officer of Diversicare Canada. From 2011 to 2013, Mr. Carnella served as President, Chief Executive Officer and a Director of Royal Host Inc., a Toronto Stock Exchange listed hotel owning company. Prior to joining Royal Host, Mr. Carnella served as Executive Vice President and Chief Financial Officer of Fairmont Raffles Hotels International and prior to that he served as Senior Vice President and Treasurer of Host Hotels and Resorts. Mr. Carnella began his career as an investment banker with Lazard and later worked for NatWest Markets, the investment banking division of National Westminster Bank.

Mr. Carnella is a member of the Cornell Council. He holds an undergraduate degree from Cornell University and a Masters in Business Administration from The Wharton School, University of Pennsylvania.

Gregory A. Samay, Independent Director

Mr. Samay has been one of our independent directors and a member of our Audit Committee since June 2011. He was also an independent trustee and member of the audit committee of NorthStar Real Estate Capital Income Master Fund and its feeder funds from March 2016 to October 2020. Mr. Samay served as Chief Investment Officer for the Fairfax County Retirement Systems consisting of three public pension systems with a combined $6 billion of assets from July 2013 (having previously served as an Investment Officer since July 2011) to July 2016.

Mr. Samay served as Executive Director and Chief Investment Officer for Arlington County Employees’ Retirement System, a $1.3 billion public pension plan, from August 2005 to September 2010. Mr. Samay served as Assistant Treasurer for YUM! Brands, Inc. (NYSE: YUM), a quick service restaurant company, from 2003 to 2005. From 1998 to 2002, he served as Vice President and Treasurer of Charles E. Smith Residential Realty, Inc., a publicly-traded REIT that merged with Archstone Communities of Denver in 2001 to form Archstone-Smith Trust, a publicly-traded REIT until acquired by Tishman Speyer and Lehman Brothers Holdings Inc. in October 2007. Mr. Samay served as Senior Manager, Capital Markets and Investments, for MCI Corporation from 1996 to 1998. From 1987 to 1996, he held various positions, progressing from Senior Financial Advisor-Corporate Treasury to Assistant Treasurer-Corporate Treasury, for COMSAT Corporation, a global telecommunications company.

Mr. Samay holds a Bachelor of Science in Engineering from Pennsylvania State University in University Park, Pennsylvania and a Master of Business Administration from the Darden School of Business, University of Virginia in Charlottesville, Virginia.

 

Jack F. Smith, Jr., Independent Director

Mr. Smith has been one of our independent directors and the chairman and financial expert of our Audit Committee since June 2011.

Mr. Smith was a partner with Deloitte & Touche LLP, or Deloitte & Touche, from June 1984 until August 2009. He served as the head of the firm’s real estate industry practice for Atlanta, Georgia and the Southeast from June 1996 to June 2007. Mr. Smith began his career as an accountant with Deloitte & Touche in 1973, where his responsibilities included audits, due diligence on acquisitions and mergers, business and accounting advice and assistance in problem resolution. During the course of his career, Mr. Smith has served clients of varying sizes in many different industries, including public and private REITs, real estate developers, merchant builders, real estate investment funds, real estate operating companies and hotels.

Mr. Smith is a member the Tennessee Technological University College of Business Foundation, the American Institute of Certified Public Accountants and the Tennessee and Georgia Societies of Certified Public Accountants. Subsequent to his retirement in 2009, Mr. Smith has engaged in investing in and management of personal real estate and other assets.

Mr. Smith holds a Bachelor of Science in Accounting from Tennessee Technological University in Cookeville, Tennessee and a Master of Business Administration from Emory University in Atlanta, Georgia.

 

T. Andrew Smith, Independent Director

Mr. Smith has been one of our independent directors and a member of our Audit Committee since December 2019.  

Mr. Smith has over 30 years of experience in seniors housing, mergers and acquisitions, real estate, capital markets transactions, corporate finance and healthcare. Mr. Smith served as the Chief Executive Officer of Brookdale Senior Living, Inc. (NYSE) from February 2013 until February 2018, as President from March 2016 until February 2018, and as a member of the Board of Directors from June 2014 until February 2018. From October 2006 to February 2013, Mr. Smith served as Brookdale’s Executive Vice President, General Counsel and Secretary. In addition to his role in managing the company’s legal affairs, Mr. Smith was responsible for the management and oversight of the company’s corporate development functions (including mergers and acquisitions, and expansion and development activity); corporate finance (including capital structure, debt and lease transactions and lender/lessor relations); strategic planning; and risk management. Prior to joining Brookdale, Mr. Smith served as a member of Bass, Berry & Sims PLC's corporate and securities group and as chair of the firm's healthcare group. Mr. Smith previously served as a member of the board of directors of the Nashville Health Care Council, Argentum and the National Investment Center for the Seniors Housing & Care Industry (NIC), and as a member of the executive board of the American Seniors Housing Association (ASHA).

Mr. Smith received his Bachelor of Arts from Vanderbilt University and his Juris Doctor from Southern Methodist University School of Law.