Jeffrey Michael is the COO of the Horizon Realty Group, where he seeks out new acquisition opportunities and oversees management and operational processes. An experienced real estate finance professional, Jeffrey Michael has been with Horizon Realty Group since 2001. The group recently acquired its first senior living community in Chicago.
Senior living is a fast-growing segment of the real estate market, as the independent living market flounders. Investors and operators are increasingly questioning the financial sense of independent living communities that have higher operational costs than active adult facilities.
Food delivery services, such as DoorDash, are intensely disrupting the value proposition of senior living culinary support, as more seniors are starting to appreciate the convenience of ordering meals via mobile phones. In 2020, most operators of senior living centers will likely look to trim costs in their in-house dining facilities and supplement dining choices through food delivery services.
On the other hand, an oversupplied market is preventing many seniors from selling their homes. Many people are reluctant to move to a senior living community before they liquidate their current home, which is stifling demand.
