The real-estate investment trust planning to take control of bankrupt HCR ManorCare Inc. explained its decision to keep the nursing home operator’s management, saying that debt placed on it by its private-equity owners burdened an otherwise “effective” team, WSJ Pro Bankruptcy reported. Thomas DeRosa, chief executive officer of Welltower Inc., appeared Wednesday at the Nareit REITweek 2018 Investor Conference in New York. His Toledo, Ohio-based real-estate investment trust, which focuses on health-care properties, is forming a joint venture with hospital operator ProMedica Health System Inc. to acquire the operations of HCR ManorCare, a nursing home operator that filed for chapter 11 in March in U.S. Bankruptcy Court in Wilmington, Del. HCR ManorCare, also based in Toledo, is owned by private-equity firm Carlyle Group, which took it private in a $5.15 billion deal in 2007. Carlyle will have no stake in the reorganized company.
