60 seconds with ... NIC's Robert Kramer
Robert Kramer, president of the National Investment Center for the Seniors Housing & Care Industry
Q: How did senior housing perform in the last quarter of 2013?
A: The numbers overall were good, in terms of continued recovery and strength of market fundamentals. In particular, occupancy was up again, with very strong absorption. It's especially strong in independent living, and that's been a trend in the last year or so.
Q: What are markers to look for in 2014?
A: We need to see absorption stay strong with the amount of construction overall, especially in assisted living and memory care. Our forecast model calls for all occupancy to exceed 90% in 2014. That's been an important marker that the industry has been wanting to get to.
Q: What hot topics do you anticipate at this month's NIC Regional Conference?
A: From the capital side, everyone's looking at that outstanding performing small operator that they can partner with to help grow. Also, the role of technology. You can say, I don't want to invest $5 million and a year later, it's out of date. But there's no doubt the customer and payer are increasingly demanding the latest in tech that can enable providers to document and share outcomes, and demonstrate their results.