Not surprisingly, building or buying skilled nursing facilities in the Northeast, where land costs, average income and barriers to entry are high, is the most expensive of the other regions, with an average price per bed in 2014 of $88,200 per bed (according to the 2015 Senior Care Acquisition Report, coming out later this month) and an average development cost of approximately $185,000 per bed in construction projects announced since early 2013 featuring a majority of skilled nursing beds. Those sales of Northeast SNFs featured mostly old facilities, with an average age of about 36 years, which is indicative of the aging product in that region.
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