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1、REPORTU.S.Seniors Housing&Care Investor Survey 2023CBRE ResearchJuly 2023Intelligent Investment2CBRE RESEARCH 2023 CBRE,INC.INTELLIGENT INVESTMENTU.S.Seniors Housing&Care Investor Survey 2023|ReportAbout Our SurveyThis 12th edition of CBREs Seniors Housing&Care Investor Survey polled a more select g
2、roup of seniors housing thought leaders than previous surveys.The resulting market sentiment insights are therefore based exclusively on feedback from industry veterans.While the past two surveys focused largely on changing market conditions caused by the COVID pandemic,this years survey focused mor
3、e on the impacts of inflation,staffing shortages and rising interest rates.CBRE Seniors Housing Investor Survey,2023.Figure 1:Survey Respondent Categories(%)2424202255Mix of RespondentsPrivate Capital InvestorBrokerDeveloperInstitutional InvestorOtherREIT3CBRE RESEARCH 2023 CBRE,INC.INTELLIGENT INVE
4、STMENTU.S.Seniors Housing&Care Investor Survey 2023|ReportSeniors Housing Trends Skilled Nursing(SN)cap rates decreased by 34 basis points(bps)year-over-year.This was the only seniors housing care category with a lower average cap rate.The average cap rate for Active Adult(AA)communities,which once
5、again led the“top investor opportunity”category,increased by 21 bps year-over-year(+57 bps in the Class A segment).Average capitalization rates for Independent Living(IL),Assisted Living(AL)and Memory Care(MC)facilities increased by 28 bps year-over-year,with greater increases for Class A assets tha
6、n Class B and for core markets than non-core.Difficulty in maintaining adequate staffing levels ranked as the greatest headwind facing the seniors housing industry this year.For AA,IL,AL and MC facilities,the greatest percentage of respondents reported underwriting rental rate increases of 3%to 7%ov