X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

Senior Housing Influencers Having experienced arguably the most drastic highs and lows in the past year compared to any other commercial real estate sector, the senior housing market is now poised to do well once again.

Prior to the pandemic, senior living was well-positioned with a drastic uptick in developments and its highest transaction volume in years. Unfortunately, upon the onset of COVID-19 in March 2020, the sector faced a devastating decrease in occupancy rates and halted/paused nearly all projects. During the health crisis, residents decamped from facilities in fear of the virus and communities racked-up costs due to the need to invest in protective personal equipment and make other similar investments.

Stabilized occupancy rates closed Q4 2020 at 82.9% in primary markets and 83.2% in secondary markets as unprecedented lows, according to the fourth annual Seniors Housing Investor Survey and Outlook from the JLL Valuation Advisory. During 2020, volume fell 48% year-over-year to $9.2 billion. Many wondered if seniors would ever feel comfortable living in a residential community again.

Ingrid Tunberg

Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.

More from this author

GlobeSt. APARTMENTS Fall 2021Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.