Senior housing has arguably experienced more drastic highs and lows than any other commercial real estate sector as of late.
Desiring active lifestyles and high-tech amenities while downsizing, seniors’ demand for updated, luxury senior living developments, generated almost immediate results from investors and developers in recent years. While excessively preparing the market for the aging baby boomer population, industry stakeholders complied to the increasing demand for state-of-the-art, amenity- packed independent and assisting living facilities throughout the nation; resulting in recent overbuilding and oversupply within the sector.
Upon experiencing a drastic uptick in developments, the senior housing sector along with the rest of the industry is now dealing with the unfortunate, overwhelming impacts of the COVID-19 pandemic.
As the sector faces a devastating decrease in occupancy rates, industry professionals are faced with the tasks of stabilizing the market while quickly implementing innovative solutions to ensure people’s loved ones remain safe, healthy and content within their living environments. In addition to fulfilling social distancing parameters through creative strategies, these professionals are prioritizing the integration of healthcare-focused technology and tenant-focused digital communication systems within existing and future facilities.
While considering tenants’ evolving needs and the sector’s pre-pandemic fundamentals, senior housing professionals are constantly navigating factors within the market’s uncertain future.
In effort to recognize the outstanding work within this sector, GlobeSt. Real Estate Forum is looking to shine a spotlight on the professionals that help shape the senior housing real estate market. Our Influencers in Senior Housing Real Estate series will profile not only the pioneers who have made an impact with their individual efforts, but also teams and entire organizations who have become crucial to the industry.
The power of influence is vast, and influencers yield such clout that they are able to effect change through direct and, more often than not, indirect action. These are the individuals, teams and companies that have had a recognizable and significant impact on the business. Be it through their contributions to the industry, the numerous successes they’ve racked up in completing deals and projects, or the innovations and best practices they’ve introduced to the business, these are Commercial Real Estate’s Influencers in Senior Housing.