• Inland Acquires Class-A Asset

    Inland Real Estate Acquisitions announced its acquisition of a high-end seniors housing community in Monument, Colorado (between Colorado Springs and Denver). We heard about the Class-A transaction about six weeks prior, when Vince Viverito, Jason Punzel, Jake Anderson and Taylor Graham of Senior Living Investment Brokerage announced their... Read More »
  • Institutional Investor Acquires Oklahoma SNF at Record Price

    A private investor looking to exit the skilled nursing business to focus on other ventures recently sold its Oklahoma City, Oklahoma, asset. The building is one of the newest skilled nursing facilities in the state.  The facility had a strong census at the time of sale, but there was some upside with a shift in the operating model. Daniel... Read More »
  • PE Firm Sells Community in Texas

    A seniors housing community in the Dallas-Fort Worth MSA recently traded with the help of Nick Stahler, Austin Diamond and Hap Knowles of The Knapp-Stahler Group at Marcus & Millichap. The large community, which features more than 200 units and 230,000 square feet, includes 163 independent living, 42 assisted living 15 and memory care units.... Read More »
  • DST Investor Buys Idaho MC Community

    A leading DST investor recently acquired a memory care community in northern Idaho. Set in the town of Rathdrum, about 25 miles northeast of Spokane, Washington, Generations Memory Care features 48 private units and is managed by Senior Services of America, an experienced regional operator with 15 properties in Washington, Oregon and Idaho. It... Read More »
  • Thrive Adds Three Assets in Georgia

    Thrive Senior Living grew its presence in its home state of Georgia, with the addition of three seniors housing communities. Developed by the Sawyer family between 2019 and 2022, the communities operated under the At Home Senior Living brand and are located in Cochran, Thomson and Jesup. Beginning in 2024, Thrive partnered with the Sawyer family... Read More »

Occupancy, Rates And Discounting In Seniors Housing

The recent NIC MAP data on occupancy, development and rate growth can be interpreted in many ways. So, what are we really to make of the NIC MAP data for the first quarter? Most of the data was viewed positively, despite a smallish decline in occupancy from last year’s fourth quarter. Absorption levels have been increasing, according to the data, and construction starts as a percent of existing supply declined from both the fourth quarter and the year-ago quarter. Does this mean that the much-feared over-building threat has dissipated? Hardly, as one quarter’s worth of data does not present a strong trend, and it is possible the small decline in starts was related to the chaos in the... Read More »

A lot of building, but what’s the cost?

Taking a look at the NIC MAP® Construction Monitor as of Q2:15, which examines seniors housing construction in the Top 99 MSAs, we noticed on the AL side there were 22 MSAs with a construction vs. inventory ratio above 10%. If that doesn’t show a frothy development market, then what does? But, what is the cost to build in some of those MSAs? The Sarasota market, which has gotten a good amount of attention for its development pace, has eight assisted living properties under construction, and 893 units, representing a construction vs. inventory ratio of 30.7%. According to our data, which tracks senior living construction projects since 2013, majority-AL communities in the Sarasota market... Read More »

Seniors Housing Census Woes Continue

Brookdale Senior Living is not the only one with some recent census declines… The next few weeks will be very telling in terms of the direction of some of the major seniors housing companies. All eyes will be on Brookdale Senior Living next week as it announces second quarter results and whether it has reversed its downward occupancy trend. Brookdale’s stock price is down about 15% since June 1 and is at its lowest level in more than eight months. Those activist shareholders must be going nuts. We know NIC MAP indicated a tough second quarter in general, and we also know that the Atria Senior Living and Sunrise Senior Living properties in the Ventas stable posted a combined 40 basis... Read More »