Robert Savage has been appointed an independent director of New Senior Investment Group. His term will expire in 2017.
“I am excited to join the New Senior board and look forward to working collaboratively with the board and management team to drive value for shareholders over the long term,” he said.
Savage was appointed to the board under the terms of an agreement with a stockholder group of the company, including Levin Capital Strategies. “We are pleased to welcome Bob to our board of directors and believe that our agreement with the Levin Group is a positive development for our stockholders,” Susan Givens, CEO of New Senior Investment Group, said in a statement.
John Levin of the Levin Group added, “We are pleased to have reached this agreement with New Senior. Bob has extensive industry experience on the real estate advisory, operating and investing side and brings valued expertise to the New Senior board that should be beneficial for all shareholders.”
Savage was co-founder and president of KTR Capital Partners from 2005 until the sale of the company in 2015. Before founding KTR, he was executive vice president, chief operating officer and trustee of Keystone Property Trust, an industrial real estate investment trust.
From 1997 to 2000, Savage was a partner at Hudson Bay Partners, a private equity firm. Previously, he worked in the investment banking division at Merrill Lynch & Co., where he specialized in corporate finance and merger and acquisitions advisory services for REITs, real estate private equity funds and hospitality companies.
Savage is a member of the Mount Sinai Medical Center Board of Trustees in New York. He also is a member of the Policy Advisory Board at the Fisher Center for Real Estate and Urban Economics at the University of California, Berkeley.