Report: Permanent debt delinquencies up for senior housing

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The senior housing industry saw permanent debt delinquencies increase and loan volume drop in the fourth quarter 2003, according to a report released by the National Investment Center for the Seniors Housing & Care Industries.

The overall delinquency rate was 4.6 or the entire seniors housing and care industry, indicating are still more troubled properties than optimal, according to NIC's report.

Overall loan volume for the quarter dropped to $763 million, compared with $834 million in the year ago quarter.

Assisted living median and average occupancy rates held steady at 85%, while the median occupancy rate for skilled nursing rose slightly to 88% from 87%.