IRVINE, Calif. — HCP (NYSE: HCP) has hired Scott Brinker as chief investment officer and executive vice president.
Brinker most recently served as CIO at fellow healthcare REIT Welltower. He left the company in January as part of a massive restructuring that included the elimination of both the chief investment officer and chief operating officer positions. He had been with Welltower in various positions since 2001.
Brinker's tenure with HCP is scheduled to start Jan. 4, 2018, exactly one year after his departure from Welltower. Although that date appears to be intentional, coming after the end of a non-compete agreement, Welltower has still filed a lawsuit against Brinker claiming he has breached his separation agreement by speaking with HCP. The Lucas County Court of Common Pleas in Welltower's home of Toledo, Ohio, has granted a restraining order in the case, temporarily preventing Brinker and HCP from communicating.
"Scott will be a tremendous addition as we continue to successfully execute our strategic initiatives and grow our company," says Tom Herzog, HCP's CEO. "He has an outstanding track record of building and asset managing large-scale portfolios through a disciplined investment process, and we are excited to welcome him to our company."
HCP lost two of its C-Suite executives in just the last two months. Justin Hutchens, the company’s president, announced in April that he’s leaving to become CEO of a U.K.-based operator and Kai Hsiao, who heads HCP’s seniors housing platform, announcing in early May that he will also be leaving the company.
HCP is one of the “Big Three” seniors housing REITs, along with Welltower and Ventas. As of June 1, 2016, the company owned 470 seniors housing properties totaling 49,000 units, according to calculations by the American Seniors Housing Association.