We are a real estate investment firm that teams up with strategic operating partners in the assisted living industry to acquire or develop boutique and middle market (15-100 bed) assisted living and memory care communities.
We see the writing on the wall. People aged 65+ will grow by thirty million between 2020 and 2050. Four thousand people a day are turning 85, which is now the fastest growing demographic in the US. There are seventy-three million baby boomers and ~70% will need help with ADL’s in their lifetime. In 7 years, the first baby boomer will turn 85, the prime age for assisted living.
The culmination of all of this is leading to a need of 95,000+ senior housing units, per year, between 2025 and 2030, according to NIC research.
We wholeheartedly believe that seniors housing, specifically assisted living/memory care, offers the greatest opportunity in the real estate industry today. Significantly higher yields than conventional multifamily and a growing demand story like no other asset class.
Connor is a Principal of Bell Residential.
Prior to Bell Residential, Connor was the Vice President of Acquisitions at The BurnBrae Companies and was responsible for identifying and evaluating investment opportunities. During his time at BurnBrae, he was credited with acquiring and/or developing more than $75M worth of multifamily.
Prior to BurnBrae, Connor worked in the real estate industry in several capacities including capital sourcing, acquisitions, development, and asset management.
Throughout his career, he has been involved in the acquisition or development of more than $1.0B in real estate assets and the origination of more than $200m in equity.
Connor received his Bachelors of Business Administration from Southern Methodist University and his Masters in Real Estate Finance from Georgetown University.
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10,000 people per day turning 65, 4,000 people per day turning 85. In the next decade, the 80+ population will grow by 66%. Occupancy for Seniors Housing has increased every quarter for the last 12 quarters while annual new supply is at its lowest since 2014 (07/24). The time to strike is now!
1 in 5 Americans will be 65 and older by 2030. The US demographic aged 65+ will grow by 29.6 million from 2020 to 2050.
73 million baby boomers, 70% of which will need help with activities of daily living in their lifetime.
“From 2025-2030, 95,000+ senior housing units per year will be needed to meet demand.” - NIC Research, Seniors Housing & Care
Significantly higher yields on cost than other traditional real estate assets such as multifamily, hotels, and office with a growing demand story like no other asset class.
We target to acquire or develop boutique and middle market (15-100 bed) assisted living and memory care communities.
Mid-Atlantic Region: Delaware, Maryland, New Jersey, New York, Pennsylvania, Virginia, West Virginia, and District of Columbia.
Population Density: 5,000+ (1-mile), 40,000+ (3-mile), 100,000+ (5-mile)
Median Age: 39+
Median Household Income: $70,000+
Big box presence (Sunrise, Brookdale, etc.), submarket occupancy rate of80%+, average bed rate of $5,000+
Land for ground up construction, triple net leases to experienced operators, and property/business acquisitions.
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