The number of publicly announced seniors housing and care acquisitions in the third quarter of 2025 totaled 205 deals, based on new acquisition data from LevinPro LTC. This represents a 13% increase from the 182 transactions disclosed in the second quarter of 2025 as well as from the 182 deals in Q3:24. Additionally, the $3.47 billion spent on Q3:25 transactions fell by 36% from the $5.42 billion spent on Q2:25 transactions, and rose by 14% from the $3.05 billion spent in the year-ago third quarter, based on disclosed prices.
Publicly announced acquisitions were fairly evenly distributed across the quarter, with July and August each recording 66 transactions and September contributing 72. At this quarterly pace, activity annualizes to 820 publicly announced deals, which would be a 14.5% increase from last year’s record of 716. For comparison, the year-ago-quarter activity annualized to 728 deals, with the full-year total of 716 ending only slightly below that projection. The first three quarters of this year totaled 565 publicly announced deals, compared with 525 in the same period of 2024, and Q4:25 opened with strong momentum, with more than 50 transactions already recorded within just the first 10 days.
“Market participants expect activity to remain high this quarter, increasing the likelihood that total annual activity will surpass the industry record set last year,” stated Ben Swett, Managing Editor of The SeniorCare Investor. “Positive capital markets developments and improving operations across the board are leading to more interested buyers, more acquisitions and higher prices.”
Skilled nursing deals made up the plurality of Q3:25 deals, accounting for 41%, followed by assisted living at 38%. Independent living deals comprised approximately 11% of the quarter’s total, while affordable senior apartments took a 3% share. Active adult accounted for 3%, and CCRCs 2%.
Excluding foreign transactions and based on disclosed prices, the third quarter of 2025 recorded 161 U.S. deals, which is 644 on an annualized basis, with a dollar volume of $2.2 billion. Comparatively, the second quarter of 2025 saw 136 U.S. deals, or 544 annualized, totaling $2.2 billion, while Q3:24 had 150 U.S. deals, or 600 annualized, with a dollar volume of $1.6 billion.
“There has been a slight uptick in the number of portfolio deals that have closed,” added Swett. “Stabilized Class-A properties are also comprising a greater share in the seniors housing M&A market today, which will help average values soar for 2025.”
