Milestone CEO William Wells was recently tasked with presenting at a joint MIT – CBRE conference focused on upcoming investment opportunities in Los Angeles. Mr. Wells focused his presentation on the unmet need for senior housing in Los Angeles.
In his presentation, Mr. Wells focused on the upcoming demographic changes that will result from the coming “silver tsunami” as the number of americans over the age of sixty five will grow from 13% of the population to 20% of the population by 2050 and the significant lack of facilities to meet that growing need. One fact that seemed to resonate with the full capacity audience was the growth in the U.S. assisted living industry from $42.7B in 2006 to $79B in 2016. Accordinly, the Los Angeles penetration rate is particularly low and ripe for new investment.
You can view the hard copy of Mr. Wells’s presentation here
