Invest at the Center of the Expanding Silver Economy
Silver Wave Capital is a value-add investment firm acquiring and improving underperforming senior housing communities, meeting a critical social need and delivering for investors
Three Simple Pillars: Valuations, Demand, and Supply
1.
Assisted Living Value Per Unit
COVID and rate hikes drove senior housing valuations to a 14-year low in 2023. They’ve partially recovered but remain substantially below previous peaks.
2.
Total U.S. Population Ages 80 And Over
America’s population is aging unlike ever before. Baby Boomers just began turning 80.
3.
Senior Housing Unit Growth 2019 - Present
Supply growth is at record lows after COVID interrupted developments, rate hikes suppressed construction lending, and inflation increased the cost of raw materials.
Strategic Edge
Assisted Living Value Per Unit
COVID and rate hikes drove senior housing valuations to a 14-year low in 2023, and they slightly recovered in 2024. The market has bottomed.
Total U.S. Population Ages 80 And Over
America’s population is aging unlike ever before. Baby Boomers begin turning 80 next year.
Senior Housing Unit Growth 2019 - Present
Supply growth is approaching all-time lows after COVID interrupted developments, and rate hikes made construction loans unaffordable.
Discounted communities can be acquired right as demand expands to new highs, supply growth contracts, and occupancy is rapidly increasing.
High Quality Real Estate
Favorable Market Fundamentals
Substantial Discount to Replacement Cost
Operator / Investor Alignment
Replace the Operator
Ride the Secular Tailwind
Disciplined Value-Add Investing, Clear Strategy
High Quality Real Estate
Favorable Market Fundamentals
Substantial Discount to Replacement Cost
Replace the Operator
Operator / Investor Alignment
Ride the Secular Tailwind
Click here for a deeper discussion of our investment philosophy and execution strategies:
Meet the experienced professionals behind our investments
Our Team
Cory Wake
Founding Partner
Cory is a capital allocator and asset manager who has deployed over $500 million into senior housing. His exclusive focus on senior housing has shaped him into a sophisticated underwriter and investor with a deep understanding of the industry’s…
Elan is a former Wall Street trader turned real estate private equity founder and executive. In 2014, he co-founded Watermark Partners, a private investment firm focused on acquiring multifamily properties in the Midwest…