Seniors housing loan volume rises
Silverado Senior Living - The Huntington, Alhambra, CA
The increase in loan volume is due to a massive 481% increase in skilled nursing facility placements in the third quarter, said NIC President Robert G. Kramer. Independent living loan volume was actually down substantially compared with the previous quarter and the same quarter a year ago.
Loan performance during the third quarter also continued at a robust 99.4%. Meanwhile, mean occupancy rose for all senior care segments except independent living. The fourth quarter data should offer a better reading of the impact of the credit crunch on seniors housing, NIC said.