Seniority

With more than 17M senior living apartment units nationally, don't believe senior housing is just a niche market, Integra Realty Resources' top senior housing dog Charles Bissell told the Fort Worth CREW luncheon last week at The Ashton. While overall population is projected to grow 1% annually, seniors are growing (not physically) at a higher rate: 65 to 74-year-olds  are growing  4.2% annually; 75-84 at 2%, and 85 and older at 1.4%. The market needs a larger supply of assisted living and nursing facilities in the next three to five years, according to Charlie.
Oddly, equity isn't the problem here—it's a lack of product to buy. Occupancy rates have bottomed and operators are slowly seeing some recovery, Charlie explained. By next year, development should be underway but will be hard pressed with liquidity still scarce. The good news is the CMBS market is back for senior housing with two large deals already done this year, he adds.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Los Angeles Newsletters
Related Stories

With Occupancy Brimming, Investors Pile Into Bay Area Apartments

DivcoWest Sells Glendale Office Building For $70M

FBI Drops Investigation Into Financially Troubled StoryBuilt

GTIS Partners Rebrands As Brightshore Capital, Launches $250M Debt Platform

Dublin BTR Had A €1B Summer

Daniel Negari Buys Downtown LA Hotel For $34M

Downtown Atlanta Improvement Group Picks Food Bank Chief As Next Leader

Stockdale Capital Partners, Hamilton Lane Acquire Chino Hills Shopping Center For $157M

Sales Of Lower-End Apartments Surge In Philly As Landlords Face Financial Issues

Wu Proposes Tax Breaks To Jump-Start Stalled Housing Projects

Trump's DEI Crackdown Is Creating New Risks For Landlords That Lease To The Government

California Emerging As Data Center Fallback Market Amid Nationwide Opposition