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.
With this in mind, GlobeSt. Real Estate Forum would like to honor the men, women and companies that successfully navigate the space and persistently drive the sector’s performance during these turbulent times.
For the 2022 Influencers in Senior Housing recognition, GlobeSt. Real Estate Forum will profile the individuals, teams and organizations that have had a significant impact on the business, be it through the vast successes they’ve racked up in completing deals and projects, or the innovations and best practices they’ve introduced to the industry.
The deadline for nominations is now August 22, 2022. To apply, click here.
For additional information, please view the series’ FAQs page.
To stay up-to-date on GlobeSt.com’s commercial real estate coverage, we invite you to register for our email newsletters.