Stay up-to-date on skilled nursing and assisted living businesses, retirement communities, REITs and home health care with The SeniorCare Investor newsletter. For over 50 years, The SeniorCare Investor has been tracking mergers & acquisitions statistics and trends, equity & debt financings, bankruptcies and corporate shake-ups in the senior care market.
Size has consistently mattered when it comes to evaluating the risk of a seniors housing community, which includes independent living, assisted living and memory care. Bigger communities are able to use scale to trim expenses, which could be huge if you have to pay your employees a little more to both compete with other seniors […]
Seniors housing prices saw significant rises in average prices in the 12 months ended March 31, 2019. Assisted living itself jumped 10% from $186,400 per unit in 2018 (according to our Seniors Housing Acquisition & Investment Report) to $204,000 per unit in the latest four-quarter period. Meanwhile, independent living rose a more moderate 6% from […]
Judging by the number of questions we got during our May 16th webinar called “The 55+ Active Adult Market: The New Frontier of Seniors Housing,” it is safe to say that there is plenty of interest in this growing market. Our listeners tuned in to find out what prices active adult communities have been trading […]
There are plenty of issues that come along with the aging of the skilled nursing facility inventory. Older facilities require more capex to keep operations up to snuff, have trouble attracting the coveted Medicare and private insurance patients, and often have far fewer private units but more three- or four-bed wards. In addition, it has […]
In a year when both the assisted living and independent living average cap rates rose, how did the sectors’ average Gross Income Multiples (GIM) change year over year? Well, they accordingly fell off their 2017 levels, mirroring their changes in cap rate, according to The Seniors Housing Acquisition & Investment Report. The average independent living […]
For the seventh year in a row, there was a perfect correlation between the age of seniors housing communities sold and their average net operating income per unit, according to the Seniors Housing Acquisition & Investment Report. This makes sense, given that the newer communities should better reflect the current demand (by unit size, amenities, […]
The CCRC (or LPC) acquisition market, which we highlighted in the First Edition of The Seniors Housing Acquisition & Investment Report, is the thinnest of all the major sectors of seniors housing and care. The number of potential buyers is smaller, the lender and investor pool is smaller, and the number communities for sale each […]
As we’ve mentioned several times, 2018 was a tough year for assisted living occupancy, as new development took its toll on a number of markets. Low occupancy often leads to lower operating margins and less cash flow, especially when operators feel the need to heavily discount their rates in order to fill beds, so it’s […]
We have historically presented our cap rate analysis on an unweighted average basis, weighting the cap rate for a 60-bed skilled nursing facility and a portfolio of 20 facilities the same in our Skilled Nursing Acquisition & Investment Report (which you can still order here). Many buyers believe that a portfolio should command a lower […]
For some years now, we have separated out the assisted living and independent living M&A markets into a couple of quality-based categories, classified as “A,” “B,” and “C” properties. The determination is made by the property’s age, location and size, and there are always going to be some properties that can fit into either category. […]