Danny Prosky, chairman and CEO of American Healthcare REIT (NYSE: AHR), sat down for a video interview during Nareit’s REITworld: 2025 Annual Conference in Dallas on December 8-11.
Prosky said the investment thesis for health care real estate is increasingly driven by demographics, with demand poised to accelerate as baby boomers age into their 80s.
“The good news about health care is it’s a demographic story, and the demographics are on our side right now,” he said, pointing to what he expects will be “very rapid growth in demand for health care overall.”
Within that backdrop, Prosky emphasized that the most compelling opportunities today are in managed long-term care assets, including assisted living, independent living, memory care, and skilled nursing.
“Right now we believe the best risk-adjusted returns are managed long-term care, and that’s where you’re going to see our growth,” he said, noting the advantages of participating in operational upside rather than relying solely on lease structures.
Operator relationships are central to that strategy, Prosky explained, noting that American Healthcare REIT often identifies operating partners before pursuing assets, relying on a curated group of regional operators for sourcing, diligence, and growth. Looking ahead to 2026, he expects rising competition for senior housing assets, but also more properties coming to market as fundamentals improve.