We have been saying for the past few months that we are currently on a record pace of M&A activity for seniors housing and care properties, and our preliminary results for the first half of the year show 334 publicly announced transactions. That is not only a record for any six-month period, but it is about 100 deals higher than the 236 recorded in the first half of 2023 and surpasses the 299 deals reported in the first half of 2022. Annualized, that puts 2024 deal volume at 670 transactions, which would also clearly be a record and more than 100 transactions higher than the previous annual record of 559 deals in 2022. And looking at Q2 alone, we recorded 183 transactions, which puts us on track for…736 deals for the year.
This is also just a preliminary number, and we expect the first half’s tally to rise. So it seems hard to imagine a record not being broken in 2024, which not many may have predicted at the start of the year given the difficult capital markets and higher capital costs keeping many buyers out. But the sellers have been there, unable to wait for more favorable pricing conditions. We will have a more complete analysis of the first half of the year’s M&A activity in the July issue of The SeniorCare Investor, which will be published today.
