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Sign in Sign up for a FREE subscriptionCindat Capital to invest $2b in U.S. senior housing properties
Beijing-based Cindat Capital Management has plans to spend $2 billion on U.S. senior housing properties this year. Cindat CEO Greg Peng tells Bloomberg that senior housing is the one U.S. sector that is not overbuilt, and the demand will soar over the next 10 years as baby boomers reach 70 years old.
Every day, 10,000 baby boomers are turning 65, a trend likely to persist for the next 12 years, according to Pew Research. And the
