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There is no question the pandemic hit seniors housing hard. In some cases, facilities had to manage COVID-19 outbreaks that put patients and staff at risk.

In 2020, stabilized occupancy rates closed Q4 at 82.9% in primary markets and 83.2% in secondary markets, according to the fourth annual Seniors Housing Investor Survey and Outlook from the JLL Valuation Advisory. Those were unprecedented lows, according to JLL. The additional operating expenses from COVID came in at between $1,420 per unit for independent living and $3,320 for nursing care.

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