Expectations For Senior-Housing Finance
NOVEMBER 22, 2016 | BY CARRIE ROSSENFELD | GlobeSt.com
While we may not be able to predict how much runway is left in the current cycle, judicious development and financing trends bode well for this sector for the long term, KeyBank’s Brian Heagler tells GlobeSt.com EXCLUSIVELY.
Heagler: “The one new trend that continues to be underway, which we’ve seen over the past couple of years, is new people coming into the market—new developers and investors, including private equity.”
SAN DIEGO—While we may not be able to predict how much runway is left in the current cycle, judicious development and financing trends bode well for the senior-housing sector for the long term, KeyBank Real Estate Capital SVP Brian Heaglertells GlobeSt.com. The firm provides a broad range of financing solutions on both a corporate and project basis in a variety of product sectors and recently secured a total of $103 million in non-recourse, first mortgage loans for Mira Mesa Marketplace, a San Diego retail center. While an executive was not available to discuss the San Diego retail sector with GlobeSt.com, we sat down with Heagler for an exclusive chat about another West Coast property sector for which the company has been active in securing financing: the senior-housing sector.
GlobeSt.com: What trends are you noticing within the senior-housing sector in the Western region?
Heagler: When I say Western region, I’m focusing on what we’re seeing in Washington, Oregon and California—those are the most active markets in the West. There’s certainly been activity in Utah, Arizona and Colorado, but from a senior-housing perspective, there’s been far more volume and activity in those primary markets.
Generally speaking, the activity in senior housing, whether it be…