ORIX Real Estate Arm Names New Senior, Health Care Properties Head
ORIX Real Estate Capital named its new leader for senior housing and health care real estate financing at least in part because his experience will help its new lending initiatives in connection to the coronavirus pandemic.
PHILADELPHIA, PA — The commercial real estate arm of ORIX Corp. USA has named a new leader for its financing work for two types of in-demand properties.
ORIX Real Estate Capital, formed with the merger of two other real estate companies and the acquisition of a third, named Aaron Becker as head of senior housing and health care origination efforts across the firm’s US practice.
ORIX Real Estate is comprised of three real estate finance companies. Lancaster Pollard & Co. LLC and RED Capital Group LLC merged in January 2019 and a year later acquired Hunt Real Estate Capital LLC.
Prior to taking a lead role at ORIX Real Estate, Becker was regional manager in the Northeast for Lancaster Pollard. Senior living and health care already was his forte as the Columbus, Ohio-based financier focuses on these sectors. While Becker was at the helm of Northeast operations, Lancaster closed about 150 deals for more than $2.8 billion across the entire capital platform.
Becker will work out of ORIX Real Estate’s Philadelphia office.
He also will lead ORIX’s senior living platform for the East Coast. Three others also from Lancaster also are taking leadership roles in ORIX’s senior housing sector with Casey Moore and Doug Harper taking the helm for operations in the West and Quintin Harris for the Midwest.
The foursome’s experience in senior housing is a good asset for ORIX amid the coronavirus pandemic.
“The qualities that distinguish our seniors business and made us the top U.S. lender in this sector will serve our clients well during the crisis and its aftermath,” Becker said in a prepared remark.
ORIX CEO James Flynn echoed this about Becker specifically.
“His experience in business development and proven leadership make him the ideal choice as we launch a series of initiatives that will enable us to better support the needs of seniors owners and operators in this COVID-19 environment,” Flynn said in a news release.
RED Capital, the other company that comprises ORIX, has offices in Columbus and Dallas and is a financial services firm for multifamily, affordable, senior housing and health care real estate. Hunt Real Estate Capital, based in New York, also is a commercial real estate lender focusing on multifamily.
ORIX Real Estate Capital, also referred to as OREC, is a subsidiary of ORIX Corp. USA, the US subsidiary of publicly traded Tokyo-based ORIX Corp. whose diversified financial services include life insurance, real estate, lending venture capital and retail capital.
The ORIX US subsidiary, founded in 1981 in New York and now based in Dallas, finances more than real estate as it also has municipal and energy capital subsidiaries as well as leveraged financing, and mezzanine and private equity subsidiaries.