New care units slowest to fill, according to new study
Despite a surprisingly high median occupancy number, the lease-up rate for nursing care units lags behind the other three key asset classes in the seniors housing and care space, according to Skilled Nursing News.
The National Investment Centers for Senior Housing & Care (NIC) found that median occupancy at nursing care units in new properties sat at 92% after 16 quarters of operation — well above recent average occupancy figures in the space overall. But that still fell short, however, compared with median occupancy rates in the independent living, assisted living and memory care segments, which clocked in at 93%, 95%, and 94%, respectively.
“Broadly, data on range of lease-ups by community type and national trend data for seniors housing and care properties can be used in setting pro forma occupancy in new development, studies to support financing, and benchmarking occupancy for non-stabilized communities as they fill up,” NIC researchers Lana Peck, Anne Standish, and Beth Burnham Mace wrote in a blog post on the data.
The data segments refer to the services provided by different units in a facility, Mace, who is the chief economist and director of outreach at NIC, told Skilled Nursing News. As a result, the nursing care numbers include units in facilities that don’t solely provide skilled nursing servicing, such as a continuing care retirement community.
Read the reasons why at Skilled Nursing News.
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