Senior Living Occupancy Continues to be on the Upswing, but Pace of Acquisitions Slows
Senior Housing News recently posted a couple of articles showcasing the continuing recovery of the senior housing industry vis-a-vis occupancy levels, but such increases do not appear to be enough to overcome the continuing headwinds on mergers and acquisitions within the industry.
After hitting a record average occupancy of 87.2% in the first quarter of 2020, the COVID-19 Pandemic decimated occupancy numbers and residents were lost to the pandemic while facilities were unable to bring in new residents to take their place. But, the first quarter of 2022 saw the overall occupancy in the markets tracked by the National Investment Center for Seniors Housing & Care (NIC) reach 83.2%, and represented the seventh quarterly increase since the industry’s occupancy low in 2021. There was more good news on rent growth and absorption rates in the article, which can be found here.
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