Editor's Letter
6 www.seniorshousingbusiness.com
Seniors Housing Business n October-November 2017
When it comes to development
and investment prospects for 2018,
seniors housing is head and shoul-
ders above all other residential
property segments, according to
Emerging Trends in Real Estate, an
annual forecast survey compiled by
PricewaterhouseCoopers (PwC) and
the Urban Land Institute (ULI).
That's a big vote of confidence
in seniors housing, which bested
affordable apartments, moderate-
income and high-income apart-
ments, and even student housing in
the latest survey. Emerging Trends
notes that investors are attracted to
seniors housing for several reasons:
• Compelling investment returns
— Institutional-quality, private pay
seniors housing has consistently
produced steady income and strong
returns for more than 10 years, reg-
ularly beating apartments, retail,
offices, industrial and hotels.
According to the National Coun-
cil of Real Estate Investment Fidu-
ciaries (NCREIF), the total return for
seniors housing in the first quarter
of 2017 was 12.05 percent compared
with 7.27 percent for the NCREIF
Property Index (NPI), which tracks
apartments, hotels, industrial, office
and retail. On a 10-year
basis, total returns for
seniors housing sur-
passed the NPI by more
than 400 basis points.
• Enticing demograph-
ics — Growth in 82-to-
86 age cohort, which
dominates assisted living and inde-
pendent living properties, starts to
accelerate this year and will gener-
ally continue to do so until 2025.
Between 2017 and 2025, this age
cohort is projected to increase from
5.1 million to 6.6 million people.
• Post-acute care coordination
opportunities — Alternative pay-
ment plans and networks, such as
accountable care organizations,
managed care organizations and
bundled payments, are displacing
fee-for-service payment plans in
both Medicare and private health
plans. Seniors housing operators,
as well as skilled nursing and post-
acute providers, have new opportu-
nities to become part of the emerg-
ing care continuum.
In short, the stars are aligned for
the senior living industry.
An emerging investment darling
Matt Valley
H O U S I N G
B U S I N E S S
®
SENIORS
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Editor
Matt Valley
(404) 832-8262
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Published by France Media, Inc.
Vol. 6, No. 5 October-November 2017
www.bluemooncp.com
( 617) 307-5961
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