on January 22, 2014, the board of directors of NorthStar Healthcare Income, Inc. appointed James F. Flaherty III as Chief Executive Officer and President of NorthStar Healthcare. Prior to joining NorthStar Healthcare, Flaherty served as Chairman of the Board of Directors of HCP, Inc. from May 2005 to October 2013, as Chief Executive Officer from May 2003 to October 2013, and as President and a Member of HCP's board since joining HCP in October 2002 to October 2013. Flaherty is a Member of the board of trustees of the University of Notre Dame and was a Member of the board of governors of the National Association of Real Estate Investment Trusts from 2004 to 2013.

concurrently with Flaherty's appointment, Daniel R. Gilbert was elected to the board and appointed as executive chairman and no longer serves as NorthStar Healthcare's Chief Executive Officer effective on January 22, 2014. David T. Hamamoto has decided to step down from the Board and as Chairman to facilitate these changes, effective January 22, 2014, and will continue his stewardship of the sponsor as its Chairman and Chief Executive Officer. In connection with the foregoing appointments, on January 21, 2014, Donald C. Tomasso submitted his resignation as President of NorthStar Healthcare, effective on January 22, 2014.