Concierge level retirement villages is the fastest growth market for retirees, according to NREIOnline.com. An example is the operator Mainstreet which has built 14 high-end properties and has 12 more in the pipeline, mostly in the Midwest and Texas. They range from 100 to 150 units and each have four different dining venues. The US business model is to rent the units, with the national average rental being $2,726 per month for an independent living unit and $3650 per month for assisted living units, according to the National Investment Centre for the Seniors Housing and Care Industry. A typical concierge village however starts at $4,600 per month for a studio and goes up to $6,500 for a two-bedroom unit. Operators say the leading edge of the baby boomers just want more. For instance a new gay seniors resort opening in Santa Rosa, California, called Fountaingrove Lodge (pictured) by Oakmont Senior Living, includes a wine cave, gourmet dining, chauffeured transportation, concierge and valet service.
Opinion
RIP: We are seeing the death of the family-run aged care operator
It feels like I am writing an obituary to family-run aged care facilities. Once the backbone of the sector, multi-generation operators are now selling out at a pace not seen before. The sell-off is accelerating, with three landmark deals in just two...
