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CBRE is bolstering its senior housing finance team as it sees the sector as one of the hottest in real estate.
The world's largest real estate services firm announced Wednesday it hired Joshua Hausfeld to serve as executive vice president focusing on debt and structured finance within its senior housing practice.
Hausfeld previously served as managing director at SunTrust Commercial Real Estate, leading its senior housing and healthcare finance group. He has also worked for Merrill Lynch on underwriting senior housing transactions.
Based in CBRE's Bethesda office, Hausfeld will lead the firm's national efforts on originating Section 232 loans, a Department of Housing and Urban Development program that finances nursing homes and assisted living facilities. CBRE's senior housing team also works with Fannie Mae and Freddie Mac.
Senior housing development has surged in the D.C. area and around the country as investors anticipate incoming demand from retiring baby boomers. CBRE is bullish on the sector and sees opportunity to work with those investors to finance deals.
"Joshua’s unique skill set adds a valuable service for investors interested in senior living properties, one of the fastest-growing real estate sectors,” CBRE Executive Managing Director Kyle Schoppmann said in a release. "Joshua is one of several recent strategic hires we’ve added to our Bethesda office as part of our growth plan for that market and the Mid-Atlantic region as a whole.”
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