Bart Shea
Bart Shea is the Founder and CEO of Shea Connelly Development, a privately held, vertically integrated real estate development and construction firm based in Scottsdale, Arizona. With over 40 years of experience in the Greater Phoenix Metro area, Bart is a recognized leader in Arizona’s real estate market, particularly in the senior housing and multifamily sectors. He has been instrumental in developing more than 15,000 units across Arizona, Nevada, and California. Under his leadership, Shea Connelly has built a reputation for delivering sustainable, high-quality commercial properties, positioning the firm as a trusted partner in large-scale real estate ventures.
As a licensed General Contractor, Bart has demonstrated versatility over his career, overseeing engineering, architecture, and construction of various property types. In the senior housing sector, Bart has personally developed and operated four premier facilities in Arizona: The Montecito, Morningstar of Fountain Hills, Morningstar of Glendale, and Copper Sky Maricopa. These projects underscore his commitment to creating vibrant, high-quality living environments for
Arizona’s growing senior population.
Shea Connelly Development has an active construction pipeline of over 2,200 units, representing over $1 billion in capitalization. Supported by a senior management team with over 100 years of combined experience, Bart drives the company’s success through his hands-on approach and deep market knowledge. His leadership has been key in expanding SCD’s footprint, which boasts a portfolio of over 10 million square feet of developed commercial space.
Cecil Yates
Cecil Yates has over 30 years of experience spanning both the public and private sectors of the real estate and economic development industries.
Currently, Cecil is Executive Vice President at Shea Connelly Development, where he leads development funding efforts across all pipeline projects and collaborates with the executive team to drive operational efficiency and align communities with high-quality development projects.
Cecil’s public sector experience includes serving two terms on the Fountain Hills Town Council, where he was elected Vice Mayor in 2014. During his tenure, he gained extensive experience in economic development, skillfully bridging public and private sector interests.
He has also served on the Boards of Directors for the Greater Phoenix Economic Council (GPEC), Valley Metro RPTA, and the Maricopa Association of Governments. Currently, he is President of the Fountain Hills Recovery Center (FHRC) and volunteers with the Arizona Chapter of Habitat for Humanity.
Recognized for his industry impact, Cecil was featured in People to Know in Real Estate (2020) and AZ Business Leaders Magazine as one of the “Most Respected and Influential Business Leaders” (2019). Ranking Arizona magazine named his division #1 in property management, and his management style was highlighted in Arizona Commercial Real Estate’s “Best of 2016” issue. In 2018, he was appointed by the Arizona Department of Real Estate (ADRE) Commissioner to the Test Development Committee as a subject matter expert.
Cecil holds an MBA in Strategic Management from Patten University and a BBA in Marketing and Management from the University of Cincinnati. He earned his Six Sigma and Project Management certifications in 2017. Drawing on his executive experience and education, Cecil specializes in designing scalable growth strategies by creating streamlined processes and operational efficiencies.
Eric Gruber
Eric Gruber brings 35 years of senior housing development and operating experience to Acanthus, most recently serving as Executive Vice President of Development for Cogir Management USA, a top 25 national operator with 65 communities and over 8,000 units as of mid-2024. A Phoenix native, Eric previously held leadership roles including President and CFO of
Southwest Retirement Corporation in the 1990s, Co-founder and President/COO of Sierra Pointe Management from 1998 to 2014, and Co-founder of Cadence Living in 2016, overseeing both operations and development.
Under Eric’s leadership, Cadence grew from zero to 35 communities in just six years before its acquisition by Cogir in 2022, creating a top 25 national senior housing operator with a presence in 10 states. Throughout his career, Eric has ground-up developed several thousand units in Independent Living, Assisted Living, and Memory Care and managed over 10,000 units.
Beyond senior housing, Eric served on the board of the Foundation for Prader-Willi Research and co-founded Luna Azul Development, where he designed, constructed, and sold the first-of-its-kind fee-simple housing project for young adults with developmental disabilities. Eric is a graduate of Stanford University with a bachelor’s degree in economics and political science. He will also be a guest lecturer on Senior Housing Development at the W.P. Carey School of Business at Arizona State University in Spring 2025.
Christopher Bayley
Chris Bayley serves as Chief Operating Officer and General Counsel to the Acanthus Group and bwill be the designated Fund Manager. Most recently, he concluded a distinguished 38-year law career, with the last 35 years spent at Snell & Wilmer LLP in Phoenix, AZ. As a partner, Chris co-led the Bankruptcy, Insolvency, and Collections practice group and acted as the administrative lead for his 30+ member team across 16 offices in the inter-mountain west, Washington, DC, and Mexico.
For over 25 years, Chris also co-chaired client review, billings, and collections functions with the firm’s COO and CFO. Chris’s broad legal practice has encompassed both transactional and litigation areas, with extensive appearances in trial and appellate courts, including federal bankruptcy courts and appellate panels. Chris’s career has earned him recognition in top publications, such as The Best Lawyers in America, Southwest Super Lawyers, America’s Most Honored Professionals, Arizona Business Magazine, Super Lawyers – Corporate Counsel Edition, and Arizona’s Finest Lawyers. His professional contributions include service on the Executive Committee of the Arizona Bankruptcy American Inn of Court, the State Bar of Arizona Bankruptcy Section, and memberships in the American Bar Association and the American Bankruptcy Institute.
A Phoenix native, Chris graduated from Brophy College Prep, earned a BS in Political Science and History from the University of Arizona, and received his JD from the University of San Diego School of Law.
