Improved data luring investors into sector
There's been no better time in recent history to buy or finance a long-term care facility, according to experts. That's good news for providers.
The causes for the good fortune are varied, but there's one reason most stakeholders agree on: Investors increasingly know what it is they are buying.
That's because data on the sector has increasingly become more plentiful, reliable and precise.
Groups such as the American Seniors Housing Association (ASHA) and the National Investment Center for the Seniors Housing and Care Industries (NIC), along with several private firms, garner much of the praise for creating better information.
The NIC, for example, now offers quarterly financial and demographic data on properties in 30 top metropolitan markets for its Market Area Profile (MAP) project. The organization also releases its "Key Financial Indicators" on a quarterly basis.
"We've got a ways to go, but I think we've made enormous progress," says NIC President and Executive Director Robert Kramer.
Other real estate experts agree, and say additional tweaks could make the market even more attractive to outside investors.