As the housing market recovers, older homeowners are selling.
Investors are banking on a big recovery for the sector and redirecting their assets in anticipation of a senior housing boom. Several major builders and Real Estate Investment Trusts (REITs) are beginning to sell some of their commercial assets to raise money to redirect toward senior housing and care facilities, the CoStar Group reported.
“There are a lot of buyers in the market right now,” says Scott M. Brinker, executive vice president of investments of the Health Care REIT Inc., one of the biggest players in the sector. “Like us, they’re attracted by resilient returns and strong fundamentals.”
Senior housing will be the topic of the next edition of “Real Estate Today,” 9 a.m. Sunday on 93.7 KIRO-FM.