Senior Team

S. Scott Stewart

Managing Partner

S. Scott Stewart is the Founder and Managing Partner of Capitol Seniors Housing (CSH), a national seniors housing investment firm. CSH is a joint venture partner with Boston based Harvard Management Company (Harvard) which manages Harvard University’s $35.7 billion endowment, the largest higher education endowment in the world. CSH also partners with The Carlyle Group (Carlyle), one of the world’s largest private equity groups with $162.0 billion under management. Both CSH and Carlyle are headquartered in Washington, D.C. CSH was formed in the fall of 2003 with a mission to opportunistically acquire, develop and own independent living, assisted living and continuum of care retirement communities (CCRCs) in major U.S. markets. CSH utilizes third party operators to manage the facilities on a fee or joint venture basis. To date, the company has amassed a nationwide portfolio of 86 assets valued at over $2.1 billion. CSH has also realized a combined gross profit of $625 million for its investors with the timely sale of certain assets over a twelve-year period. This track record has enabled the company to post an overall portfolio IRR in excess of 42%. Prior to forming CSH, Mr. Stewart ran the Acquisitions Group for Sunrise Senior Living, one of the country’s premier seniors housing service providers. Before that, he headed up the acquisitions, development and construction efforts for Homestead Village, Security Capital Group’s extended-stay hotel company. Mr. Stewart serves on the Boards of the American Seniors Housing Association (ASHA) and Hopecam, a non-profit organization. He is on the University of Michigan’s Ross School Advisory Board as well as an Adjunct Professor at both Georgetown University and American University in Washington, DC, teaching real estate courses in both universities’ continuing education programs. Mr. Stewart is a five-time Ironman triathlete and member of the “Seven Continents Club,” having run a marathon in all seven continents.  He earned an MBA from Harvard Business School in Boston, Massachusetts and a BBA from The University of Michigan in Ann Arbor, Michigan.
+

S. Scott Stewart

Managing Partner

S. Scott Stewart is the Founder and Managing Partner of Capitol Seniors Housing (CSH), a national seniors housing investment firm. CSH is a joint venture partner with Boston based Harvard Management Company (Harvard) which manages Harvard University’s $35.7 billion endowment, the largest higher education endowment in the world. CSH also partners with The Carlyle Group (Carlyle), one of the world’s largest private equity groups with $162.0 billion under management. Both CSH and Carlyle are headquartered in Washington, D.C.

CSH was formed in the fall of 2003 with a mission to opportunistically acquire, develop and own independent living, assisted living and continuum of care retirement communities (CCRCs) in major U.S. markets. CSH utilizes third party operators to manage the facilities on a fee or joint venture basis.

To date, the company has amassed a nationwide portfolio of 86 assets valued at over $2.1 billion. CSH has also realized a combined gross profit of $625 million for its investors with the timely sale of certain assets over a twelve-year period. This track record has enabled the company to post an overall portfolio IRR in excess of 42%.

Prior to forming CSH, Mr. Stewart ran the Acquisitions Group for Sunrise Senior Living, one of the country’s premier seniors housing service providers. Before that, he headed up the acquisitions, development and construction efforts for Homestead Village, Security Capital Group’s extended-stay hotel company.

Mr. Stewart serves on the Boards of the American Seniors Housing Association (ASHA) and Hopecam, a non-profit organization. He is on the University of Michigan’s Ross School Advisory Board as well as an Adjunct Professor at both Georgetown University and American University in Washington, DC, teaching real estate courses in both universities’ continuing education programs.

Mr. Stewart is a five-time Ironman triathlete and member of the “Seven Continents Club,” having run a marathon in all seven continents.  He earned an MBA from Harvard Business School in Boston, Massachusetts and a BBA from The University of Michigan in Ann Arbor, Michigan.

Kyle Henderson

Principal - Asset Management

Kyle Henderson is responsible for the asset management of the Capitol Seniors Housing portfolio throughout the United States. Additionally, Mr. Henderson plays an integral role in CSH’s acquisition group. Prior to joining CSH, he worked in Deloitte’s assurance group with a focus on publicly traded REITs. Mr. Henderson served as a mentor in the Higher Achievement Program, a non-profit organization focused on improving the academic skills and attitudes of underserved middle school students in Washington, DC. Mr. Henderson earned received his MBA from the McDonough School of Business at Georgetown University and received a BS in Finance and BS in Accounting with honors from the University of Maryland.
+

Kyle Henderson

Principal - Asset Management

Kyle Henderson is responsible for the asset management of the Capitol Seniors Housing portfolio throughout the United States. Additionally, Mr. Henderson plays an integral role in CSH’s acquisition group. Prior to joining CSH, he worked in Deloitte’s assurance group with a focus on publicly traded REITs. Mr. Henderson served as a mentor in the Higher Achievement Program, a non-profit organization focused on improving the academic skills and attitudes of underserved middle school students in Washington, DC. Mr. Henderson earned received his MBA from the McDonough School of Business at Georgetown University and received a BS in Finance and BS in Accounting with honors from the University of Maryland.

Fred Moon

Principal - Acquisitions

Fred Moon is responsible for sourcing and analyzing acquisition opportunities for CSH as well as the execution of finance, refinance and recapitalization strategies for the portfolio. Prior to working with CSH, Mr. Moon co-founded Orion Student Housing which acquired and repositioned 17 properties. He was also a Director of the Greenwich Group International where over an 11-year period he raised approximately $2.5 billion in equity, mezzanine financing and debt for residential, office, retail, self-storage and industrial/flex transactions where he specialized in recapitalization, joint-venture structuring, refinancing and investment sales on a property, portfolio and entity level. Before that he was a financial analyst for Friedman, Billings, Ramsey in its Technology Investment Banking Group. Mr. Moon received his BBA with a concentration in Finance and Accounting from the University of Michigan in Ann Arbor and is a licensed broker in the District of Columbia, Maryland and Virginia.
+

Fred Moon

Principal - Acquisitions

Fred Moon is responsible for sourcing and analyzing acquisition opportunities for CSH as well as the execution of finance, refinance and recapitalization strategies for the portfolio. Prior to working with CSH, Mr. Moon co-founded Orion Student Housing which acquired and repositioned 17 properties. He was also a Director of the Greenwich Group International where over an 11-year period he raised approximately $2.5 billion in equity, mezzanine financing and debt for residential, office, retail, self-storage and industrial/flex transactions where he specialized in recapitalization, joint-venture structuring, refinancing and investment sales on a property, portfolio and entity level. Before that he was a financial analyst for Friedman, Billings, Ramsey in its Technology Investment Banking Group. Mr. Moon received his BBA with a concentration in Finance and Accounting from the University of Michigan in Ann Arbor and is a licensed broker in the District of Columbia, Maryland and Virginia.

Joe McElwee

Principal - Development

Joe McElwee is responsible for managing CSH’s development and renovation projects from the planning stages to completion. Mr. McElwee co-founded Shelbourne Healthcare and has over 20 years of experience in the senior assisted living industry. He was the Senior Vice President of Development for Sunrise Senior Living in McLean, Virginia, managing development officers in Chicago, Detroit, Boston, Baltimore and New York. In addition, he has worked for Cardinal Industries of Glen Burnie, Maryland and JS Hovnanian and Sons of Mount Laurel, New Jersey. Mr. McElwee has been a guest lecturer at the Erickson School of Aging in Maryland and at Marquette University in Milwaukee. He is currently serving as a trustee of St. Joseph’s Preparatory School in Philadelphia. Mr. McElwee is a graduate of Marquette University.
+

Joe McElwee

Principal - Development

Joe McElwee is responsible for managing CSH’s development and renovation projects from the planning stages to completion. Mr. McElwee co-founded Shelbourne Healthcare and has over 20 years of experience in the senior assisted living industry. He was the Senior Vice President of Development for Sunrise Senior Living in McLean, Virginia, managing development officers in Chicago, Detroit, Boston, Baltimore and New York. In addition, he has worked for Cardinal Industries of Glen Burnie, Maryland and JS Hovnanian and Sons of Mount Laurel, New Jersey. Mr. McElwee has been a guest lecturer at the Erickson School of Aging in Maryland and at Marquette University in Milwaukee. He is currently serving as a trustee of St. Joseph’s Preparatory School in Philadelphia. Mr. McElwee is a graduate of Marquette University.

David Stivaletta

Controller

David Stivaletta oversees the financial accounting of the Capitol Seniors Housing (CSH) portfolio throughout the U.S. David has amassed over 20 years of experience in real estate accounting. Prior to joining CSH, he worked at Clark Enterprises as the assistant controller overseeing the accounting and tax preparation for the commercial office and residential real estate division. Prior to Clark, he worked at Marriott International as the Manager for Entity Accounting where he oversaw the consolidation of the financial statements and ensured the accounting of transactions into appropriate legal entities. Mr. Stivaletta earned a BBA in Accounting from Loyola College in Maryland.
+

David Stivaletta

Controller

David Stivaletta oversees the financial accounting of the Capitol Seniors Housing (CSH) portfolio throughout the U.S.

David has amassed over 20 years of experience in real estate accounting. Prior to joining CSH, he worked at Clark Enterprises as the assistant controller overseeing the accounting and tax preparation for the commercial office and residential real estate division. Prior to Clark, he worked at Marriott International as the Manager for Entity Accounting where he oversaw the consolidation of the financial statements and ensured the accounting of transactions into appropriate legal entities.

Mr. Stivaletta earned a BBA in Accounting from Loyola College in Maryland.

Michael Hartman

Principal - Active Living

Michael Hartman is responsible for CSH’s Active Living platform, which focuses on investing in assets catering to residents who are Over 55. This opportunity includes acquiring and renovating existing assets, as well as developing new assets that are uniquely tailored to this community. Michael brings more than two decades of commercial real estate principal and advisory expertise to his role with CSH. Prior to joining CSH, Michael was director of Investments, Senior Housing for Cortland Partners focusing exclusively on Active Living assets. Over a two-year period, he executed six transactions totaling over 1,200 units and deployed $140 Million of capital. Prior to that, he ran the Real Estate Division of Cohn Reznick Capital Markets, providing services that included debt and equity financing, M&A advisory, due diligence, and strategic investment advisement. Michael’s extensive experience also includes a previous stint with CSH where he was part of the team that launched the original effort in 2003. In the past, Michael served as Vice President for Sunrise Senior Living, Inc. and Deutsche Banc Alex Brown, respectively. Michael has also worked as an associate and analyst for Prudential Securities Incorporated and The Yarmouth Group, respectively. Michael began his finance career as a loan officer with Shawmut Bank in Boston, Massachusetts. Michael received his MBA in Finance and Real Estate from The Wharton School and holds his bachelor’s degree in Economics from Connecticut College.
+

Michael Hartman

Principal - Active Living

Michael Hartman is responsible for CSH’s Active Living platform, which focuses on investing in assets catering to residents who are Over 55. This opportunity includes acquiring and renovating existing assets, as well as developing new assets that are uniquely tailored to this community. Michael brings more than two decades of commercial real estate principal and advisory expertise to his role with CSH.

Prior to joining CSH, Michael was director of Investments, Senior Housing for Cortland Partners focusing exclusively on Active Living assets. Over a two-year period, he executed six transactions totaling over 1,200 units and deployed $140 Million of capital. Prior to that, he ran the Real Estate Division of Cohn Reznick Capital Markets, providing services that included debt and equity financing, M&A advisory, due diligence, and strategic investment advisement.

Michael’s extensive experience also includes a previous stint with CSH where he was part of the team that launched the original effort in 2003. In the past, Michael served as Vice President for Sunrise Senior Living, Inc. and Deutsche Banc Alex Brown, respectively. Michael has also worked as an associate and analyst for Prudential Securities Incorporated and The Yarmouth Group, respectively. Michael began his finance career as a loan officer with Shawmut Bank in Boston, Massachusetts.

Michael received his MBA in Finance and Real Estate from The Wharton School and holds his bachelor’s degree in Economics from Connecticut College.