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Well, the Baby Boomers are no longer babies, in fact the human bubble of births is now turning to their retirement years. For those interested in housing and real estate, the need for quality senior housing is going to expand significantly in the coming years.

In the past, financing for senior housing was hard to get for developers, but at a recent convention for the Mortgage Bankers Association, that was the topic of the day. And money is flowing into the sector at an amazing rate.

The growing senior population represents an opportunity for commercial lenders, she said. Until recently, senior housing was viewed as a niche market best left to specialists. Today “you have the parents of the boomers, who are in their 80s, and they are among the biggest users of senior housing,” Scott said. “This is a market that is skyrocketing.”
Curt P. Schaller, director of real estate originations for Merrill Lynch Capital Healthcare Finance, said the senior housing business is changing, even though many lenders have been slow to recognize it.
“A lot of people don’t realize how big the senior sector is,” he said. “Senior housing is looked at as an ugly stepchild. It is a significant player. Valuations are through the roof. Occupancies are up.”
Angela Mago, senior vice president and national manager for KeyBank Real Estate Capita, said there is plenty of capital available for senior housing loans. New types of products are emerging, such as for-sale homes sold in tandem with assisted-living units. “You are going to see multiple levels of care.”
Mortgage bankers were urged to do their homework before loaning money for senior housing. James J. Piecznski, co-president for health care and specialty finance at CapitalSource, a commercial finance firm, said his company looks for “good quality operators.” via SignOnSanDiego.com

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