What is the added cost of purchasing a portfolio of assisted living communities versus single-facilities? That is a question we try to answer in our Senior Care Acquisition Report (now in its 21st Edition). Now, there is no guarantee that a buyer will pay more for a portfolio of properties, but rather, the premium has to do with both the number of properties and the quality. For statistical purposes, we define “portfolio” sales as those sales with three or more properties. Most years, there is a sizeable difference between the average price paid for portfolios compared with smaller purchases. In 2015, we recorded one of the largest premiums in recent years of $47,600 per unit, or a 30% premium on portfolio sales. Although this does not match the record set in 2012 of $67,000 per unit (a 54% premium), it does significantly beat out 2014’s premium of $33,300 per unit, or 19%.