Reconstruction Cost Value totals more than $170 billion
According to early storm analysis by CoreLogic, 758,657 homes in North Carolina, South Carolina and Virginia with a reconstruction cost value of approximately $170.2 billion are at potential risk of storm surge damage from Hurricane Florence based on its Category 4 status.
Current projections show it is likely Hurricane Florence could exceed a Category 4 storm. CoreLogic plans to release new figures for Hurricane Florence-related activity in advance of landfall to reflect the storm's updated path and intensity.
Hurricane-driven storm surge can cause significant property damage when high winds and low pressure cause water to amass inside the storm, releasing a powerful rush over land when the hurricane moves onshore.
According to the recently released CBRE U.S. Seniors Housing & Care Investor Survey, the appetite for senior housing acquisitions in the U.S. remains strong, with nearly two-thirds of investors planning to increase the size of their portfolios over the next 12 months.