The first segment of this multi-part series established that market studies are a critical component of determining whether a proposed seniors housing property is an attractive investment opportunity. The second segment touched on maximizing accuracy in defining a market area. And the third segment discussed quantifying and qualifying the competitive environment.
In recent blog posts, I’ve given you a “deep dive” into the seniors housing markets in the Southeast, California and Texas. Today, I’ll provide a high level look at the seniors housing market in the Northeast. For an even deeper dive, check out the original article in the May edition of the NIC Insider Newsletter. The Economy. There are six large metropolitan markets among the 31 NIC MAP® Primary Markets in the Northeast. They include Baltimore, Boston, New York, Philadelphia, Pittsburgh and Washington, D.C.
The preliminary data for seniors housing and care Q1 2017 transactions volume showed a significant uptick from the prior quarter. Volume totaled $4.4 billion in the first quarter. The increase in volume was mainly driven by the public REIT divestitures and the institutional players, namely Blackstone, stepping in to acquire properties.