The Market Has Cooled—But Demand Hasn’t Gone Anywhere

While headlines focus on rate hikes, cooling asset classes, and the slowing multifamily market, there’s a quiet but persistent demand simmering under the surface of medical real estate—especially in behavioral health and senior living. These aren’t just recession-resistant sectors—they’re demand-driven by long-term, structural needs in our society.

Behavioral health operators are still facing waitlists. Seniors are still aging into higher acuity care levels. And providers are still looking for space, acquisition targets, or land to develop new facilities. What’s changed isn’t the demand—it’s the funding environment and the caution with which investors are moving.

This is where valuations become critical. With cap rates in flux and comps becoming harder to trust, having a valuation approach that understands the specific operational realities of behavioral and senior assets makes all the difference. Cookie-cutter isn’t going to cut it. You need insights rooted in how these businesses function—how they generate revenue, how regulations shape facility performance, and how patient census drives NOI.

There’s opportunity right now—plenty of it—but it’s only going to the folks who can interpret the numbers beyond the spreadsheet.

Let’s talk if you want to dig into the market or need help positioning your asset for sale, refinance, or acquisition.

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