Seniors Housing Weekly Update - Record Prices for Assisted Living

March 4, 2013


 

March 5, 2013. 60 Seconds with Steve Monroe. Assisted living per-unit prices hit record, skilled nursing per-bed prices nearly hit record.

Record Prices for Assisted Living

We are diligently working on our annual Senior Care Acquisition Report, and we had a fantastic webinar on the M&A market last week, past and future. And what happened in 2012? Nothing less than a record average price per unit for assisted living communities, breaking the previous record set in 2007 and rising to $164,000 per unit. The median also set a record at $152,200 per unit. Our panelists last week all think this bull market will continue on at least through 2013 and probably beyond, which would make it the longest, and strongest, bull market for seniors housing ever. Skilled nursing didn’t fare too badly either, with the average price per bed of $60,400 coming in very close to the record set a few years ago. The median price actually did set a record at $57,400 per bed, which was surprising given all the negative press about reimbursement. The key for all the sectors has been the rise in the quality of the properties sold, and when they come on the market, as one panelist said, it is almost like a feeding frenzy.

 

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HLP completed acquisitions of

HLP completed acquisitions of Five senior housing and care properties at average price per unit for $494k and average per bed for $135k. Far above the industry average price.

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