ANNAPOLIS, MD-The National Investment Center for the SeniorsHousing & Care Industry is reporting a decline in occupancyrates for independent living and a marked decrease in the pace ofrent growth during Q2.
The news isn’t all bad for the sector of the real estateindustry, however, occupancy rates rose for assisted living. Theorganization’s data also showed the first rise in trailing 12-monthconstruction starts since Q1 of 2009 for seniors housing in boththe independent and assisted living categories, mainly forentrance-fee Continuing Care Retirement Centers.
The average occupancy rate for assisted living properties in Q22010 was 88.3%, up from 87.8% in Q1. Occupancy rates, however, fellto 87.4% for independent living properties during the secondquarter of 2010, down from 87.5% in Q1 and 88% a year ago.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
