Executives from Brentwood-based Brookdale Senior Living made their pitch to investors in New York today. The nation’s largest owner of retirement homes says it needs capital, because it expects to grow even bigger in the next few years. That growth will come from seniors with means.
A lot of attention has been given to Baby Boomers entering retirement, but Brookdale Co-President Mark Ohlendorf says the generation before them is more likely to be a lucrative new market for his company.
“We’re actually moving between generations, out of the Depression generation to what’s called the Silent Generation. Those are folks born between 1925 and 1945. The affluence level of the population we serve is growing very very dramatically over the next few years.”
Affluence is key, because 80 percent of Brookdale residents pay their own way. Most hand over at least $4,000 a month to live in one of the company’s retirement communities.
Ohlendorf says Brookdale is already seeing a trickle of Silent Generation residents. He expects a greater influx as more people in that age group turn 80.