February 3, 2026 – 60 Seconds with Ben Swett: Values Soar Across All Sectors
Transcript
We have been hard at work collecting and enriching our 2025 M&A data, and many listeners can attest to receiving a number of calls and emails from me over the last couple of months, and the result was the most deals we have ever compiled in any year, as well as the most property financials and cap rates. So a big thank you to all of our industry friends who helped in this effort.
Prices soared in all sectors, and set a couple of records. The average price per unit for assisted living properties reached $268,600, more than $20,000 higher than the previous record set in 2019. The independent living sector also hit new heights, with an average price per unit of $263,600. Average skilled nursing values surpassed $100,000 per bed for the second time ever, hitting $105,600 in 2025, riding a wave of strong buyer interest and strengthening reimbursement environments.
We will get into the nitty gritty of the 2025 valuation stats in our annual Senior Care Acquisition Report, which will be released in a couple of weeks. But we are presenting a preview of some additional statistics in our webinar this Thursday February 5th, along with expert panelists from the broker, REIT and appraisal worlds. The webinar is exclusive for The SeniorCare Investor subscribers, plus anyone who signs up for a free trial. Hope to see you all there.
Can SNF Supply Match Buyer Demand?
Deal activity surged in early 2026, following a record 2025 with 870+ transactions. Momentum is strongest in seniors housing as capital markets improve and more assets hit the market. Skilled nursing deals were flat year over year despite higher spend, likely due to a shortage of sellers, as buyers hold onto SNFs given strong fundamentals, ancillary revenues and improving reimbursement.
You’ve Got to be Kidding!
Trump’s pardon of Joseph Schwartz, the former Skyline Health owner who committed nearly $40 million in fraud and endangered thousands of nursing home residents, has sparked outrage. Critics argue he kept stolen money and escaped accountability, joining other senior-care executives previously pardoned. The decision raises concerns about ethics, the industry’s reputation, and why more people aren’t publicly condemning the move.
Record M&A Year, Again
The seniors housing and care sector has already surpassed last year’s record with 720+ deals, per LevinPro LTC. Pricing remains steady amid high rates, though “stupid” money may return as optimism grows. New and affordable senior housing is needed to meet demand and attract future residents.
