Investors in seniors housing have been flocking to the memory care market, as the sector has experienced unprecedented growth since the Great Recession. They are attracted to its need-based demand, higher rents, private payors and apparent dearth in supply in a number of markets (though given the amount of construction in the last few years that is becoming less and less true). But those investors that are interested in getting into or expanding their holdings in this market are faced with a question: do they build memory care, or buy?
That is the topic of our upcoming webinar this Thursday at 1PM aptly named, “Buying or Building Memory Care.” Our moderator Steve Monroe and panelists Clint Malin of LTC Properties, Mark Myers of Marcus & Millichap, Michael Stoller of LCB Senior Living and Matthew Turner of MorningStar Senior Living will be discussing the risks of overbuilding, the attractiveness of stand-alone memory care communities versus MC components, and who is building, buying and selling these properties.
The panel will also be talking numbers. Is the average cap rate higher for stand-alone MC communities or for pure assisted living? How do unit sizes compare between MC and AL? In today’s market, is it more expensive to buy memory care, or build it? And what are the risks of both? Tune in on Thursday to get the answers.
