Senior housing fundamentals are improving as demand accelerates and new supply remains limited. But high operating leverage, labor constraints, and regulatory complexity leave little room for error.

Lee Menifee, Head of Americas Investment Research, Real Estate at PGIM and Dana Wooderson, Head of Senior Housing, Real Estate, at PGM examine the forces driving senior housing demand, the structural challenges that have tested operators in recent years, and why execution—not just demographics—will determine investment outcomes.

From occupancy recovery to cost pressures and emerging technologies, the article outlines what investors need to understand to navigate one of commercial real estate’s most nuanced sectors. Download the full report to explore the opportunities and risks shaping senior housing’s next chapter.