Watermark Retirement Communities Announces Next Generation of Leadership
April 8, 2025
TUCSON, AZ — Watermark Retirement Communities has announced in a press release a newly appointed C-suite, including the naming of new CEO Paul Boethel.
Boethel brings 19 years of senior housing experience on both the operator and capital side of the profession. Most recently he was chief investment officer at Keppel Capital, and his career also includes time at Eclipse Senior Living, Holiday Retirement, and Brookdale Senior Living.
The rest of Watermark’s leadership team includes COO Jeff Slichta, who joined the Watermark team in January 2025; new CFO Hanneke Talbot; new Chief Administrative Officer Sheila Donahoe; new General Counsel Chris Bouchard; and Chief Investment Officer Bryan Schachter, an 18-year Watermark veteran.
These leadership changes come as Watermark has just become a wholly owned subsidiary of Keppel, which has maintained a longstanding relationship and ownership interest in the company since acquiring a 50 percent stake in 2020. This acquisition was part of a succession plan by cofounders David Freshwater and David Barnes as they hand off day-to-day management of Watermark.
The senior living industry has evolved, with residents seeking total wellness rather than just hospitality and care. Operations have shifted from a focus on brick-and-mortar to a data-centric approach, and business models are transitioning from triple-net leases to RIDEA structures with managed contracts between real estate owners and community operators. Watermark’s leadership team combines backgrounds in operations, capital investment, and multi-site management.
“We are proud of the rich history and fingerprint Watermark has had on senior living over the past 30 years and excited to usher in the next chapter of growth and success in caring for our current and future residents and associates,” said new CEO Boethel.
Freshwater continues to serve on Watermark’s Board of Directors while Barnes has retired from his operational role, though he remains actively engaged in supporting the company’s future growth in an advisory capacity.
Based in this city, Watermark Retirement Communities is a company with more than 35 years of service that manages 40 communities across the United States.
