![]() After a protracted decline during the months of the pandemic, senior housing communities across the country are seeing new absorption rates leading, in turn, to renewed investor confidence. A new survey just issued by the real estate services and investment firm Coldwell Banker Richard Ellis indicates that an overwhelming 82% of responding investors said they expected to see senior communities return to the tenant levels they enjoyed pre-pandemic by mid-2023. That expectation rate was slightly lower for memory care units, with 70% of investors anticipating a robust pre-pandemic level of housing in the next 18 months. In a statement, James Gruber, CRBE seniors housing leader, said the anticipated growth in such senior housing levels “should outstrip the challenges, such as availability and cost of staffing, leading to the expectations of strong performance in 2022.” The Seniors Housing & Care Investor Survey, based on market input from brokers, developers, housing investors, and lenders also indicates that what is known as “active adult” communities are seen, not for the first time, as the top investment opportunity. Active adult communities are typically made up of engaged, still-active Baby Boomers ranging in from 58 to 76 years of age. At the same time, skilled nursing and continuing care retirement communities showed the greatest increase in investor confidence over last year. One possible impediment to future growth, according to the survey: both staffing availability and cost. In a press release accompanying the survey, it was noted that the challenges of staffing “is viewed as the greatest headwind for investors within the seniors housing sector, followed by inflation and interest rates.” By Garry Boulard
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