Assisted Living Executive to Senior Living Executive

no big hurry to finance or refinance, Monroe says. While some believe the biggest deals are already done, the REITs are still flush with cash, such as a $2 billion revolving line of credit announced by Ventas last October. Real estate funds and regional banks also appear to be eyeing the sector as it improves and more high-quality properties become available, Monroe says.

Five Star will be on the lookout for more acquisition opportunities in 2012. “I believe there are great opportunities for consolidation still in the industry,” Mackey says.

Brookdale also is optimistic about the
acquisitions environment. “We’re looking
toward the opportunity to invest in a
joint venture or to acquire if people are
wanting to exit,” says Sheriff. “We’re also
looking for the ability to add critical mass
in key markets.”
Ultimately, U.S. population demo-
graphics are just too strong for the
senior housing acquisitions market to
cool, Mackey says. Even with the boom-
ers still 15-plus years away from hitting
their 80s, the prime years for entering
independent and assisted living, cur-
rent seniors age 85 to 94 are one of the
fastest growing population sectors in the
United States, up nearly 30 percent in
the 2010 U.S. Census.