Senior housing real estate undoubtedly experienced tough times during the height of the pandemic. Residents decamped from facilities in fear of the virus and communities racked up costs due to investments in protective equipment and related items. However, now, the sector is well on its way to normalcy.

Thanks to vaccinations, a drastic declination in death rates and seniors returning to facilities, occupancy in senior housing facilities is up 3.4 percentage points this quarter from a pandemic low of 78% in Q2 2021. The sector has experienced a growth in occupancy for the past four quarters, according to NIC MAP Vision report.

Activity in the sector continues as private owners and operators look to build scale with senior care facilities. That said, the sector is not without its challenges, as staffing remains an issue within the property types and rising costs are putting pressure on the construction of affordable senior housing projects.

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Ingrid Tunberg

Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.

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