Seniors housing sector stays strong in 2007 first quarter
The long-term care industry enjoyed another robust quarter to start the year, according to the National Investment Center for the Seniors Housing & Care Industry.Loan volume, a key indicator, skyrocketed to $2.28 billion in the first quarter of 2007, a 172% increase compared to the first quarter of 2006. First-quarter volume was just slightly higher, compared to the fourth quarter of 2006.
Mean occupancy rates for the first quarter of 2007 slipped 1 percentage point or less, compared to the previous quarter for skilled nursing, continuing care retirement communities and assisted living. Mean capitalization rates were up slightly for assisted living, to 8.8%, and down slightly for skilled nursing properties, to 12.6%.