Senior Housing News August 2, 2024
Omega Healthcare Investors (NYSE: OHI) leadership sees a runway for occupancy growth ahead for Maplewood Senior Living’s New York City luxury community.
During Friday’s second-quarter earnings call, Omega reported that Maplewood’s Inspir 2nd Avenue property carried an occupancy rate of 67%, up two percentage points from the fourth quarter of last year. The community, which carries monthly rent upward of $22,000, grew its occupancy rate without resorting to rate concessions, OHI CEO Taylor Pickett said.
With the Inspir property in Manhattan at 120 residents, Pickett said the operator is moving “in the right direction.” Though the community is on an upward trajectory, he noted the community is not likely to hit a 90% baseline in 2024.
“Probably, you’re looking at...
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