Healthcare real estate veteran comes out of retirement to rejoin Rendina
By John B. Mugford
Mike Noto
During the year after his retirement from helping lead the property management arm of Welltower Inc. (NYSE: WELL), Michael A. “Mike” Noto says he read a lot of books, improved his golf game and spent plenty of time with his family.
During that time, the former attorney who first entered the healthcare real estate (HRE) sector in the late 1990s never really considered getting back into the business.
Until, that is, leaders with the company that originally brought him into the HRE space – Jupiter-based medical office building (MOB) developer and investor Rendina Healthcare Real Estate – gave him a call.
The call came from CEO Richard M. Rendina, one of three sons working for the company founded by their father, the late Bruce A. Rendina, and Steve Barry, the company’s president.
“We talked about what value I could bring to the company and what I could do to contribute to the great success they continue to have as a firm,” Mr. Noto tells Healthcare Real Estate Insights™ in an exclusive interview. “They know what they’re doing and have been doing it for a long time. I’m joining them to help contribute to that.”
The folks with Rendina agreed that Mr. Noto – with his many years of experience and strong working relationships with health systems, providers and others involved in HRE nationwide – could help with overall strategy and business development. He joined the company in recent months as chief strategy officer.
Mr. Noto, who was presented with the 2018 HREI™ Lifetime Achievement Award, re-joins the firm about two decades after he was first asked to run its property management platform by Bruce Rendina, his good friend and business client.
Following Mr. Rendina’s death from brain cancer in 2006, the company sold its MOB portfolio to Windrose Medical Properties Trust, which was in turn was acquired by Welltower. In making its entry into the MOB sector with the acquisition of Windrose, Welltower leaned on Mr. Noto to help it navigate the medical office space. He stayed with Welltower until retiring in summer 2018.
After Rendina sold its portfolio to Windrose back in late 2000s. Bruce Rendina’s sons, as well as other officials and employees, re-launched the company; since then they have grown it to six offices nationwide.
Upon his return to Rendina in August, Mr. Noto notes that he “knew everybody” in the headquarters office in Jupiter, which is just a 10-minute drive from his home in Palm Beach County.
“I felt like Rip Van Winkle returning from a long slumber,” he jokes.
Actually, at 69, Mr. Noto says he is as “energized as ever and I’m extremely excited to contribute to a company that has plenty of irons in the fire. They’re very busy, and right now I’m getting up to speed on the portfolio and all that they have going on. I’m as excited, maybe even more excited, than when I first joined the company.”
News Release: Michael A. Noto Joins Rendina Healthcare Real Estate as Chief Strategy Officer
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