Macquarie Asset Management has unveiled Health Wave Partners, a newly formed senior housing platform designed to deploy capital into modern senior living assets in collaboration with proven operators. The initiative underscores Macquarie’s conviction that demographic tailwinds and structural supply constraints will create significant investment opportunities in the senior housing sector. 

John Cobb, CEO of Health Wave Partners, noted that the strategy will target what the team views as high-quality properties in markets with favorable demographic trends and robust economic fundamentals. “Health Wave Partners will focus on investing in what it views to be high-quality properties and partner with experienced operators in regions with strong demographic and economic fundamentals,” Cobb said.   

The launch comes as the aging baby boomer generation is expected to expand the U.S. population aged 80+ at the fastest pace on record, creating a powerful demand driver for senior housing communities just as new construction has slowed amid elevated interest rates and building costs. Macquarie’s real estate team sees this imbalance as an attractive backdrop for strategic acquisitions and partnerships. 

Health Wave Partners will be led by an experienced management bench: Cobb as CEO; Philip Kayden as CIO; Elliot Pessis as COO; Sean O’Malley as Managing Director, Finance; and Holden Torrens as Director of Investments. The team brings more than 75 years of combined experience and has collectively managed or advised on over $50 billion of healthcare real estate transactions. 

With more than three decades of experience in real estate and a network of 15 specialist operator investments globally, Macquarie Asset Management is positioning the new platform to leverage its scale, operator relationships, and sector expertise to address a compelling supply-demand gap in the senior living market.