Seniors housing shows strong growth, best loan performance in 2Q
Seniors housing is a "hot" market right now following a period of falling occupancies and poor loan performance, according to the National Investment Center for the Seniors Housing & Care Industries.
Loan volume rose to $692 million during the second quarter of 2005 compared to $674 million in the first quarter. Loan volume represents the quarterly lending activity of top national lenders. Also, the number of performing loans soared to 98.5% -- the best loan performance NIC has tracked.
Other encouraging stats: The median occupancy rate for assisted living increased to 89%, compared to 88% during the first quarter. Median occupancy rates for both skilled nursing facilities and continuing care retirement communities held steady from the first quarter.
"Our second quarter indicators give factual corroboration to what has been both heard and observed in the industry, namely, that seniors housing is very hot right now and trends are all heading in the right direction," said Robert G. Kramer, NIC president.