Financing Senior Living Facilities
Probate and Property, March/April 1996, Volume 10, Number 2
By Timothy J. Boyce
Timothy J. Boyce is a partner with Pepe & Hazard in Hartford, Connecticut, and is a member of the Real Property Division's I-2 (Foreclosure and Related Remedies) Committee, among others.
The senior living housing industry is poised for rapid growth. This growth will need to be fueled by, and in turn will attract, financial capital. A recent survey administered by Coopers and Lybrand indicates that lenders are increasingly drawn to the favorable yields offered by investments in senior housing. Nevertheless, this industry historically has not been well understood by many financial institutions, which may have had little prior experience in the field and may not have kept pace with today's rapidly changing market. Consequently, challenges as well as opportunities exist for those who seek to participate in this burgeoning market