Sabra Health Care REIT Appoints Michael Costa as Chief Accounting Officer

Rhea-AI Summary

Sabra Health Care REIT announced the appointment of Michael Costa as Chief Accounting Officer, designated as the principal accounting officer by the Board of Directors. Costa has been with Sabra since its inception in 2010 and has over 15 years of experience in commercial real estate finance and accounting. He previously served as Executive Vice President - Finance since 2017. His educational background includes a master’s degree in Accounting from the University of Virginia. CFO Harold Andrews praised Costa’s contributions to the company's success over the past decade.

Positive

• Michael Costa's long tenure since Sabra's inception indicates strong institutional knowledge.
• The appointment may enhance financial reporting standards with Costa's extensive experience.

Negative

• Transition may cause temporary disruption as new responsibilities are assumed.
• Concerns about continuity in leadership if not adequately addressed.

Sabra Health Care REIT, Inc. (“Sabra”) (Nasdaq: SBRA) today announced that Michael Costa has been appointed Chief Accounting Officer and, in such capacity, has been designated by the Company’s Board of Directors as the Company’s principal accounting officer.

Mr. Costa currently serves as Sabra’s Executive Vice President - Finance, a position he has held since August 2017. Previously, Mr. Costa held various leadership positions overseeing Sabra’s accounting and finance functions since Sabra’s inception in November 2010. Mr. Costa has more than 15 years of experience in commercial real estate finance and accounting, having previously worked for KBS Realty Advisors and Ernst & Young’s Real Estate Assurance practice.

Mr. Costa earned his master’s degree in Accounting from the University of Virginia and his bachelor’s degree in Accounting from California State University, Fullerton. Michael is a Certified Public Accountant and licensed real estate broker in California.

Commenting on Mr. Costa’s expanded responsibilities, Harold Andrews, Executive Vice President, CFO and Secretary, said, “Michael and I have worked closely together since 2010, starting just prior to the formation of Sabra. He has been a key member of the management team and played a critical role in our successes these past 10 years. I am very excited that Michael has achieved this milestone in his career and look forward to his ongoing contributions to our success at Sabra.”

About Sabra

Sabra operates as a self-administered, self-managed real estate investment trust (a “REIT”) that, through its subsidiaries, owns and invests in real estate serving the healthcare industry throughout the United States and Canada.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210112005388/en/

FAQ

Who is Michael Costa in relation to Sabra Health Care REIT?

Michael Costa has been appointed Chief Accounting Officer and designated principal accounting officer.

What were Michael Costa's previous roles at Sabra Health Care REIT?

Before becoming Chief Accounting Officer, Costa served as Executive Vice President - Finance since 2017.

How long has Michael Costa worked at Sabra Health Care REIT?

Michael Costa has been with Sabra since its formation in November 2010.

What qualifications does Michael Costa have?

Costa holds a master's degree in Accounting from the University of Virginia and is a Certified Public Accountant.

What impact could Costa's appointment have on Sabra Health Care REIT?

Costa's experience may improve financial reporting and contribute to the company's success.