Call it a sign of the times.
A crowd of approximately 300 people attended a groundbreaking ceremony at Wyndemere in Wheaton, IL, on Thursday. The event marked the launch of the senior living community’s highly anticipated expansion.
“Our new venture is a perfect complement to our existing community,” Executive Director Marty Jensen said.
Celebrations marking new construction have become increasingly common in the senior living sector, thanks to a robust infusion of consumer demand and working capital.
And a new CBRE survey finds that for capital providers, higher-end settings and expansion will continue to remain attractive.
Nearly two-thirds of the survey participants (62%) plan to increase senior living investments during the next year.
Investors are largely focused on lifestyle senior properties, the survey found. Both independent living facilities and assisted living facilities received 28% of votes for the most preferred seniors’ asset class. Active living came in third place with 22% of respondents choosing it as the top choice for investment in the next 12 months.