With one month to go until 2023, we are just a handful of deals away from breaking the 500-deal mark for 2022. You’ve heard us say before that the previous record for publicly announced deals was 456, set in 2019 when the biggest issues facing the senior care industry were overdevelopment and a potential PDPM-induced rate readjustment. So, for seniors housing and care buyers and sellers to come together on what we assume will be well more than 500 deals (more when you include the scores of deals confidentially disclosed to us) despite a lingering pandemic, a staffing crisis, inflation and rising interest rates throughout much of the year is impressive. Late last year, we did think there was a strong possibility that we would surpass the 450 transactions announced in 2021, given the abundance of capital flowing into the senior care industry at the time and the fact that many buyers and lenders were waiting for just a few more months of occupancy growth so that they could better model future performance. We got the occupancy gains, for the most part, but if it wasn’t for the massive increase in interest rates, we could have been talking about reaching 550 publicly announced deals for the year. As of now, we are not predicting any record-breaking year in 2023, but who knows what is right around the corner.
60 Seconds With Swett: Seniors Housing & Care Market Nears 500 Transactions for 2022
