Senior Housing Properties Trust's emphasis on "private-pay" customers dovetails well with the market's direction, said David Hegarty, president and COO of Senior Housing Properties Trust, at REITWorld 2012: NAREIT's Annual Convention for All Things REIT. The REIT's portfolio consists of two-thirds senior living assets and one-third medical office buildings. "The demographics continue to be the wind at our backs for the next several years. The fact that there is very limited new development in either space should benefit. We expect that demand will exceed supply for the next several years."