ANNAPOLIS, MD—Last week Griffin-American Healthcare REIT III and NorthStar Healthcare Income announced they were partnering to acquire Trilogy Health Services LLC, for approximately $1.125 billion. It was the latest -- but surely -- not last, mega deal in the senior housing asset class. If nothing else fundamentals dictate that, coupled with demographics that show a growing need for senior housing as Baby Boomers and then Gen Xers continue to age.

To stay competitive asset owners need scale. In this current market cycle the fastest and most cost-effective way to scale is via acquisition. This year in particular has been very active for senior housing M&As; indeed the Trilogy Health deal followed a number of other large deals by most of the players involved.

GlobeSt.com spoke with Beth Burnham Mace, chief economist and director of Capital Markets Outreach, at National Investment Center for the Seniors Housing & Care Industry to hear more about activity in this category. This is what she had to say about:

The sales volume: Favorable market fundamentals, a compelling investment thesis, an improving economy and obtainable credit at attractive rates have contributed to vigorous sales.

The numbers: Seniors housing and nursing care transaction volumes [have risen] to more than $23 billion for the 12 months ending in June 2015. More than 101 deals closed during the second quarter, the eighth consecutive quarter where more than 100 deals closed. Over the past four quarters, 554 deals closed, a near record high. This translated into 1,737 properties that traded hands.

Their context: This was the strongest rolling four-quarter aggregate since the second quarter of 2012.

The industry: The seniors housing and care sector has historically been a relatively fragmented sector with many operators managing a relatively few number of properties.

Why it's consolidating: Firms [are] finding economies of scale, cost efficiencies, best practices and revenue growth opportunities by combining with one another.