NorthStar Healthcare Income Inc., a publicly registered non-traded real estate investment trust, reported that executive chairman of the board, Robert Gatenio, has resigned to pursue other opportunities. To fill the vacancy, the board has appointed Justin Chang as its new chairman.
Chang serves as the managing director and global head of private equity at Colony Capital Inc. (NYSE: CLNY), NorthStar Healthcare’s sponsor, where he is responsible for identifying, evaluating, consummating, and managing new investments, with a focus on extending Colony’s global presence.
Previously, he served as the chief executive officer of Colony American Homes Inc. and on the board of Colony Starwood Homes. He also serves on the investment committee of Digital Colony Partners.
Chang was a former partner with TPG Capital, an international private equity investment firm, where he led private equity investments across a range of industries and locations in North America and Asia.
He currently serves on the board of directors of Fly Blade Inc. and has served on the board of directors of Beringer Wine Estates, Crystal Decisions, Lenovo Group, On Semiconductor, Shenzhen Development Bank, Silverado Premium Properties, and UTAC Holdings.
Chang received his Bachelor of Arts degree from Yale University and his MBA from Harvard Business School.
NorthStar Healthcare Income was formed to acquire, originate and asset manage a portfolio of equity, debt and securities investments in healthcare real estate. The company launched in February 2013, and through November 8, 2018, raised total gross proceeds of $2 billion, including $225.3 million through its distribution reinvestment plan. The company oversees a $2.4 billion portfolio of 656 properties as of the third quarter of 2018, according to Summit Investment Research.