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Healthcare REITs and their Operator Partnerships

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dc.contributor.authorGottlieb, Matt
dc.date.accessioned2020-09-04T19:34:53Z
dc.date.available2020-09-04T19:34:53Z
dc.date.issued2015-06-01
dc.description.abstractOver the past 10 to 15 years the senior living industry has grown to become a $315 billion nationwide business. This has spurred the development of healthcare focused real estate investment trusts (REITs) and large-scale senior living operators (REOCs), thus, beginning to consolidate a fragmented industry. In contrast with other real estate sectors, the REITs and REOCs are aligned or partnered with each other due to the vital focus on operational capability. They are also partnered because growth in senior living requires acquisitions of existing senior living businesses. While the large-scale operators bring their managerial expertise, the REITs bring their access to capital with which to acquire smaller operators. Despite the strong levels of growth, in the last few years, healthcare real estate is seen as a sub-sector within the core real estate sectors. With healthcare trading at the highest price to net asset value (NAV) of any real estate sector (or sub-sector), many investors and real estate professionals are still catching on to the idea of senior living as a highly profitable real estate investment area. It is likely the heavy operational focus (and subsequent risk) deters more real estate firms from entering the space.
dc.description.legacydownloadsGottlieb.pdf: 4336 downloads, before Aug. 1, 2020.
dc.identifier.other7162029
dc.identifier.urihttps://hdl.handle.net/1813/70744
dc.language.isoen_US
dc.rightsRequired Publisher Statement: © Cornell University. Reprinted with permission. All rights reserved.
dc.subjectCornell
dc.subjectreal estate
dc.subjecthealthcare
dc.subjectREITs
dc.subjectsenior living
dc.subjectsenior
dc.subjecthousing
dc.subjecthealth care
dc.subjectsector
dc.subjectoperators
dc.subjectowners
dc.subjectgrowth market
dc.subjectsenior living industry
dc.subjectprivate pay
dc.subjectmedicare
dc.subjectmedicaid
dc.subjectfacilities
dc.subjectconsolidation
dc.subjectassisted living
dc.subjectskilled nursing
dc.subjectpost-acute rehabilitation
dc.subjectnursing home
dc.subjectlong-term care
dc.subjectbrandywine
dc.subjectventas
dc.subjectcare
dc.subjectfragmented
dc.subjectinvestment
dc.subjectREIT-REOC
dc.titleHealthcare REITs and their Operator Partnerships
dc.typearticle
local.authorAffiliationGottlieb, Matt: Cornell University
schema.issueNumberVol.13

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CRER Vol. 13 (2015)