Welcome To NIC
As more than 3,000 people descend on NIC in Chicago this week, we hope talk will also focus on operations and ideas and not just investments. Good luck with that one. If you can believe it, this is my 29th consecutive Fall NIC Conference. There may be 15 of us who can claim that. But boy has it changed from the days they were trying to educate capital so money would be invested in senior living. Today, there is certainly no shortage of capital. While NIC is known as a deal-making conference, there should be a lot of other things on attendees’ minds. Are they talking about affordable senior living? What about penetration rates, which seem to have stalled in the 10% to 11% range? We assume... Read More »
Where Is the Seniors Housing Rebound?
Seniors housing occupancy rates still remain low despite an apparent slowdown in new development. Whether you look at the total market, or simply the stabilized properties, second quarter occupancy took a small dip, according to recent numbers from NIC. Truth be told, I was hoping for a slight increase after a relatively modest flu season, even though it did seem to linger. But NIC’s numbers are at the midpoint of the quarter, so things could be more positive by now. It is still assisted living that is experiencing the continuing problems, dropping 20 basis points sequentially to 87.7% for stabilized communities, but 85.1% when the rest are included. One could look on the bright side and... Read More »
Thoughts On NIC Conference
New programming was just what the industry needed. Fresh from three days in San Diego attending the NIC “Spring” Conference, there were some noticeable changes, other than many new faces again. At past conferences, most of the sessions had to do with real estate, valuations, operations, competition and financing alternatives. While all important, this was the first NIC where there was an unusual amount of attention to things that most people either don’t want to hear about, or just plain don’t understand. I am speaking of Medicaid managed care, in both skilled nursing and assisted living, Medicare Advantage plans in assisted living, I-SNPs and value-based care, and, of course, the new PDPM... Read More »
NIC Takeaways
Record NIC attendance hints at continued investor and lender interest in seniors housing and care. It was yet another record crowd at the NIC Conference, which brings up a point I kept on making. If the headwinds are so strong, on many fronts, why are there still so many more people who want to invest, lend or operate in this business? The simple answer is good returns and an even better future, at some point. What were my takeaways? First, that there is just too much equity capital available. Think about that. Ten, 15 and 20 years ago, that statement would have been laughed at. Second, the skilled nursing sector appears to be primed to turn around before seniors housing. Why? There is... Read More »Schedule a demo
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