Sonida Enhances Executive Team and Board to Support Company Growth
Sonida Senior Living, Inc. announces Max Levy as Chief Investment Officer and Lilly H. Donohue as a new Board member. Levy, transitioning from Conversant Capital, will lead investment strategy, while Donohue, with vast industry experience, will bring valuable insights to the Board. The company aims to enhance its portfolio through acquisitions and densification for operational efficiency.
Max Levy's appointment as Chief Investment Officer brings expertise in M&A and senior living underwriting, enhancing Sonida's investment process.
Lilly H. Donohue's extensive executive leadership experience in the senior living sector will offer valuable contributions to Sonida's growth aspirations.
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Max Levy appointed Chief Investment Officer in newly created role
Lilly H. Donohue, a long-time senior living industry executive, to join Board of Directors
As CIO and a member of the executive committee, Mr. Levy, who is transitioning to Sonida from his role as a Principal at Conversant Capital (“Conversant”), the Company’s largest shareholder, will leverage his deep M&A and senior living underwriting experience to lead the overall coordination and oversight of Sonida’s already rigorous investment process and multi-faceted sourcing strategy. The Company’s inorganic growth strategy aims to further upgrade and modernize its portfolio through densification to fully leverage operating scale and efficiencies through new balance sheet acquisitions and joint ventures. With his new role, Mr. Levy, who has served as a Director since 2021, will step down as a member of the Board of Directors (the “Board”), and assume his new role effective June 1, 2024.
“Every stage in Max's career has increased his investment management acumen and responsibility, ensuring he is extremely well-suited for this significant role," said Brandon Ribar, President and Chief Executive Officer. "He is an accomplished real estate investor with extensive capital markets expertise and is already a well-respected next-generation leader and colleague at Sonida.”
“As Brandon and I discussed the search for a CIO to lead the next phase of Sonida’s growth, we determined that there is no better person than Max for this role,” said Michael Simanovsky, Founder and Managing Partner of Conversant. “We look forward to continuing to partner with and support Max as he executes Sonida’s strategic plan.”
Max Levy has been a Principal at Conversant since 2020. At Conversant, Mr. Levy leads investments across several sectors, including healthcare real estate, in both public and private markets. From 2015 to 2020, Mr. Levy was an Analyst at The Baupost Group where he focused on real estate investments in
Lilly H. Donohue, who is joining the Board, is currently President and CEO of Everstory Partners (formerly StoneMor Inc.). Ms. Donohue most recently served as the CEO of Holiday Retirement, the largest independent senior living owner and operator in
“We are pleased to welcome an industry veteran of
As a matter of practice, the Board of Directors regularly evaluates its composition and considers how it can maintain the appropriate mix of skills, qualifications and diversity of backgrounds to best oversee the business and long-term strategy of the Company. Following the appointment of Ms. Donohue, the Board will comprise nine directors and will include a Conversant Capital appointed director replacing Max Levy, pursuant to its Shareholder Rights Agreement.
About Sonida
For more information, visit www.sonidaseniorliving.com or connect with the Company on Facebook, Twitter or LinkedIn.
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Investor Relations
Jason Finkelstein
Ignition Investor Relations
ir@sonidaliving.com
Source: Sonida Senior Living, Inc.