The senior housing market has arguably seen more drastic ups and downs than any other commercial property sector.
Seniors' demand for updated, luxury senior homes who wanted an active lifestyle, downsizing, and high-tech amenities has led to almost instant results from investors and developers in recent years.
As industry stakeholders met the growing demand for state-of-the-art, convenience-filled independent and supportive housing facilities across the country, professionals over-prepped the market for the aging baby boomer population. This leads to overbuilding and oversupply within the sector.
With a dramatic spike in developments, the senior housing sector saw the highest volume of transactions in four years in the first quarter of 2020, according to a JLL research report. Many investors identify adult assisted living and active living or independent living as the best investment opportunity.
However, this high level of market interest was soon followed by the unfortunate, overwhelming impact of the COVID-19 pandemic that the senior housing sector is currently grappling with along with the rest of the industry.
Given the devastating decline in occupancy in the industry, industry professionals are quick to find solutions to stabilize the market and are faced with the task of quickly implementing innovative solutions to ensure that the loved ones of the people in their living environment remain safe, healthy and satisfied.
In addition to meeting social distancing parameters through creative strategies, these professionals are prioritizing the integration of healthcare technology and tenant-centric digital communication systems into existing and future facilities.
Taking into account the changing needs of tenants and the pre-pandemic fundamentals of the sector, Senior Housing Professionals constantly steer the factors in the uncertain future of the market.
In an effort to recognize the excellence of the work in the sector, GlobeSt. The Real Estate Forum aims to put the spotlight on the professionals who help shape the real estate market for senior housing. Our Influencers in Senior Housing Real Estate range will introduce not only the pioneers who made an impact with their individual efforts, but also teams and entire organizations that are vital to the industry.
The power of influence is enormous and influencers deliver such a clout that they are able to bring about change through direct and mostly indirect action. These are the people, teams, and companies who have had a recognizable and significant impact on the business. Be it through their contributions to the industry, the numerous successes they have had in closing deals and projects, or the innovations and best practices they have introduced into the company Influencing factors of commercial real estate in the retirement home.
The nomination period ends on August 24, 2020. To apply, click here.
WHAT YOU SHOULD KNOW
Which information / data do I have to use?
The complete nomination form with all questions and word limits is available for download here. Please note that this is for preparation purposes only. The final entries must be submitted online through the Nominate Now website.
Who can apply?
The form is open to any person or organization whose primary business is in senior residential real estate and related areas such as law, research, design and consulting. You can name individuals, teams or organizations. If you are nominating individuals, please do not submit more than five nominees per company. When nominating a team or company, please include only the names and titles of the executives and key members. We encourage you to limit your submissions to nominees who will have an indelible business impact.
When will the problem occur?
Senior Housing Influencers are featured in the November / December 2020 issue of GlobeSt. Real estate forum, which will be distributed in early December. Selected individuals are also recognized on GlobeSt.com.
Can I nominate myself?
Yes. We accept self-nominations as well as submissions from third parties.
I was selected as a retirement home Influencer last year. Can I apply again this year?
To avoid redundancy, we try to vary the influencers we profile from year to year. However, this is limited to the type of nomination you submit. For example, if your organization or team was previously selected as an influencer, you can submit again as an individual this year. If you were previously selected as an individual influencer, you may be nominated as part of a team or company this year. In both cases, your nomination must contain updated information that does not match the submission of the previous year. Here you can find the Senior Housing Influencers for 2019.
Is there a charge?
Submission for this and for all of our editorial content is free.