Jacob Gehl, senior managing director of Blueprint.
SCOTTSDALE, AZ—The senior housing real estate market is uneven and less efficient compared to the primary food groups of real estate such as multifamily. So says Los Angeles-based Jacob Gehl, senior managing director of Blueprint.
GlobeSt.com caught up with the panelist at the upcoming RealShare Healthcare conference here in December, to talk about the senior housing industry specifically and why we can expect to see a “somewhat schizophrenic market.”
According to Gehl, the market fundamentals are excellent in the medium to long term, but are challenged in the short-run. “Higher borrowing costs, a difficult labor market, too much competition and increased construction costs are all headwinds.”
However, there is still a tremendous amount of capital chasing deals, he adds, noting that deals are still getting done at record prices.
“We've all read about the silver tsunami and that 10,000 people a day turn 65 in the US. On the transaction side, one of the interesting aspects of senior living is all of the new capital entering the market both foreign and domestic.”
In California, for example, he says that there has been substantial inflows from Asia, specifically Japan and China. “We expect this trend to continue as foreign capital views this economy and this product type to be a safe harbor.”
As for where investors are placing their healthcare bets, Gehl says in his space, “a lot of folks are betting on new construction and the private client middle market side has been betting on the nursing home business in a big way.”
For more information on senior housing and healthcare real estate, join us at REALSHARE HEALTHCARE in SCOTTSDALE, AZ, from Dec 5-6, 2018. This event features thought-provoking and engaging panels focusing on senior housing and long-term healthcare as the industry continues to evolve. This conference is powered by GlobeSt.com, the go-to-source for healthcare real estate news and analysis. To register for REALSHARE HEALTHCARE, please visit
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
