Friday, March 22, 2013 — 10:45 a.m.–12:00 p.m.

The Investment Case for Age-Qualified Housing
Given its sound performance, it should come as no surprise that the age-qualified housing sector is outperforming all other commercial real estate asset classes during the Great Recession. Many investors are increasingly interested in getting into this business. Using objective data and case studies, this session will highlight information that investors, planners, developers, and others interested in investing in or developing top-performing age-qualified communities need to know before making any investment decisions.

Additional Session Resources:

• Session Presentation
• Urban Land Institute, Terwilliger Center for Housing – Housing in America: The Baby Boomers Turn 65

Speaker Biographies 

Michael Hargrave, National Investment Center Market Area Profiles Data and Analysis Service (NIC MAP) (moderator)
Mike Hargrave leads the NIC Market Area Profiles Data and Analysis Service (NIC MAP), the industry’s leading data provider, tracking revenue, occupancy, supply, and construction data in America’s top 100 metropolitan markets. Since he joined NIC in January 2005, the NIC MAP Data and Analysis Service has expanded its market coverage from the top 31 to the top 100 metro markets. Under his leadership, the MAP service has grown to more than 1,400 registered users and averages 2,000-plus report downloads per month. Often quoted and interviewed in the industry press as well as in the business and financial press, Hargrave is also a frequent speaker at seniors’ housing and real estate conferences.

Hargrave has over 18 years of experience in seniors’ housing and care. In 1992, he cofounded Health Care Plus Inc., a full-service executive recruitment and consulting firm whose clients included many of the largest owners/operators in the industry.

Hargrave holds a master’s in business administration with a specialization in finance from Loyola College in Maryland, and an undergraduate degree from the University of Maryland at College Park.

Christopher A. Kazantis, AEW Capital Management LP
Christopher Kazantis is a director of the firm and serves as senior portfolio manager for AEW Senior Housing Investors LP. Kazantis is responsible for the day-to-day management and operations of the fund and is accountable for its performance. With more than 26 years of direct real estate experience, he has completed over $3 billion of new investment transactions, including seniors’ housing investments valued in excess of $1.4 billion. These investments include age-restricted, independent living, assisted living, and memory care communities located in metropolitan markets throughout the United States.

As portfolio manager, Kazantis is a voting member of the fund’s investment committee. He joined AEW in 1986 and has been involved in the acquisition, disposition, and asset and portfolio management of a wide variety of property types across the country. He sits on the seniors’ housing council at the Urban Land Institute (ULI) and is a member of the National Association of Industrial and Office Properties (NAIOP).

Kazantis has a BA degree from the University of Massachusetts. 

William D. Pettit, Jr., Merrill Gardens
Will Pettit is the president and chief operating officer of the R.D. Merrill Co. and Merrill Gardens. After 20 years in operation, Merrill Gardens is one of the largest privately held assisted living companies in the country, and the largest in Washington State. The company, based in Seattle, owns and operates 56 communities in nine states. Merrill Gardens has 2,500 employees and the capacity to serve more than 7,700 residents.

Pettit joined Merrill Gardens in 1992 after 18 years in the banking industry. He was instrumental in the formation of the company, starting with one community in 1993. He directed the rapid growth and timely execution of acquisitions, and developed the policies that speak to the Merrill Gardens commitment to quality. Under Pettit’s leadership, the Better Business Bureau named Merrill Gardens the Business of the Year for the company’s commitment to residents, team members, and community service. The Family Business Institute named Merrill Gardens a Washington State Family Business of the Year three times in the past ten years. The company was chosen based on innovative business strategies, company performance, and contributions to the community. Merrill Gardens received a Finalist Award in the American Business Awards in the Innovative Business Practices category.

Pettit is the chairman of the executive board of the American Seniors Housing Association. He received a bachelor’s degree from Princeton University in 1971 and an MBA from the University of Oregon in 1973.