Health Needs of Seniors in Seniors Housing Communities
At the recent Fall NIC Conference, NORC at the University of Chicago presented the findings of a recent study of seniors housing residents. We are sure Medicare Advantage plans have combed through the data, as much of it was an eye-opener, even for us. The study cohort included more than 250,000 seniors housing residents and more than 325,000 in nursing homes enrolled in fee-for-service. In seniors housing, the residents were pretty evenly split among majority IL (32.5%), majority AL (31.6%) and CCRC/LPC (30.0%). The most shocking discovery was that CCRC/LPC residents have an average of 12.2 chronic medical conditions. In theory, these are among the healthiest of residents in senior living... Read More »Spotlight on Senior Care M&A
The seniors housing and care industry has witnessed incredible growth so far in the 21st century, surviving the Great Recession and the COVID-19 pandemic among other bumps along the way. Despite the headwinds, investors continue to pour money into the space in search of higher returns and to capitalize on demographic trends. But post-pandemic, where did valuations settle across the senior care sectors and why? Check out the just-published special report, Spotlight on Senior Care M&A to see the latest M&A stats and market analysis. Read More »CCRCs Continue to Outperform
Investment banking firm Ziegler just came out with its quarterly analysis of the CCRC (LPC) market, using the NIC MAP census data. For the 99 NIC primary and secondary markets, CCRC average census increased by 50 basis points to 86.0% from the first to the second quarter. This is about 690 basis points higher than non-CCRCs. The analysis covers 1,097 not-for-profit and for-profit CCRCs, both entrance-fee and rental in the 99 markets. We do not know about the other 900+ CCRCs in the country. Occupancy growth since the bottom of the pandemic has been slower in CCRCs than the rest of seniors housing mostly because census did not fall as much during the pandemic, with a relatively healthier... Read More »Welltower Comes Out with Q2 Earnings
Welltower reported yet another active quarter of acquisitions and investments, completing $1.6 billion of pro rata gross investments, including $1.1 billion in acquisitions and loan funding, as well as $448 million in development funding in the second quarter. One of the largest acquisitions was when the REIT acquired a portfolio of 25 active adult communities in non-coastal East Coast and Midwest markets, including 20 newer vintage properties and five properties currently in development, for $502 million or $172,000 per unit. In addition to that acquisition, the company bought an assisted living/memory care community in Bakersfield, California for $22 million, or $203,700, per unit, with... Read More »Pennant Releases Q2 Earnings
The Pennant Group, Inc. has announced second quarter earnings for the year, coming out with adjusted diluted earnings of $0.14 per share, which is down from the year-ago quarter’s $0.17 per share but in line with various expectations. It seemed that more focused operations and portfolio pruning offset labor and inflationary headwinds. It also appears that momentum is building in the seniors housing market as strong occupancy and revenue per occupied room growth occurred throughout the quarter. Senior living average occupancy for the second quarter was 76.5%, an increase of 380 basis points over the prior year quarter, and average monthly revenue per occupied room for the second quarter was... Read More »Schedule a demo
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