Why Is Senior Housing Entering a Historic Growth Cycle? | Aron Will

Senior housing is no longer a niche asset class; it’s become one of the most talked-about sectors in real estate and institutional investing. On this episode of Bridge the Gap, Aron Will returns to break down why senior living is entering what he calls a “historic growth cycle.” Aron explains the powerful convergence of demographics, limited new development, strong occupancy growth, and increasing institutional capital flows driving unprecedented momentum in the sector. Key Topics Why senior housing is attracting institutional investors The demographic wave driving demand growth Occupancy trends and rental rate growth in senior living Why development has slowed dramatically Construction costs and replacement cost challenges The difference between real estate value and operating business performance Positive leverage opportunities in senior housing Risks of irrational exuberance in the sector Why senior housing is more insulated than office and multifamily Capital markets outlook for 2026 and beyond Meet the Hosts: Josh Crisp:   / joshcrispsocial   Lucas McCurdy:   / lucasmccurdyseniorlivingfan   Connect with Our Guest Aron Will:   / aron-will-b05395a   Learn More about the CBRE https://www.cbre.com/ For more information about the podcast, visit btgvoice.com Sponsored by Aline, Gibson Insurance, NIC MAP, Procare HR, Sage, Hamilton CapTel, Service Master, Paragon Senior Living, The Bridge Group Construction, and Solinity. Produced by Grit and Gravel Marketing. Timestamps 01:35 - Why everyone is suddenly talking about senior housing 02:20 - Demographics, wealth, and recession resilience 03:13 - The massive shortage in senior housing development 04:12 - Occupancy growth and rental rate momentum 05:04 - Institutional capital enters the senior housing market 06:22 - Sponsor message: NIC MAP expansion and data growth 07:19 - Why new development remains difficult today 08:19 - Replacement cost vs. operational performance 09:23 - The business component embedded in senior living 10:07 - Why investors prefer stabilized cash flow today 11:12 - Why meaningful new supply may still be years away 11:45 - Potential disruptors and economic risks 12:16 - Lessons from office real estate disruption 13:33 - Capital structures and development financing challenges 14:19 - Risks of irrational exuberance in investing 16:18 - Why senior housing still offers positive leverage 18:36 - 2026 outlook and final investment perspective 20:02 - Why senior living remains economically insulated 20:28 - Closing thoughts and where to connect