Relying on demographics to drive senior living occupancy in the years ahead is a recipe for failure, according to Robb Chapin, CEO of Seniors Housing and Medical Properties at Bridge Investment Group.

Consumers have an increasing number of options for where they live as they age, meaning senior living operators must be innovating to create a more desirable product, Chapin says on this episode of Transform.

Under his leadership, Bridge has been growing in new directions. Last year, the investment firm got into operations through its acquisition of Somerby Senior Living, which has been rebranded as Bridge Senior Living. Overall, Bridge’s senior housing fund deployed about $300 million of equity into the space in 2019, equating to about $1 billion worth of transactions.

In this episode, learn:

— How Bridge is building occupancy through its “heels down the hallway” approach to management

— How the firm is approaching transactions in an increasingly competitive marketplace

— Why Chapin is focused on innovations related to the socialization aspect of senior living