McKnight’s Senior Living February 3, 2023
Senior housing — independent living, assisted living and memory care — operating fundamentals regained favorable traction as 2022 unfolded, “following a painful couple of years,” and the trend is expected to continue in 2023. That’s according to the new US Senior Housing Outlook released by commercial real estate research and advisory firm Green Street.
Occupancy rates have recouped slightly more than half of the decline experienced during the pandemic. At the end of 2022, national occupancy sat approximately four percentage points below the pre-pandemic level, in the high 80% range, according to the report.
“In the senior housing sector, top-line prospects improved meaningfully last year, but expense pressures have and will likely continue to weigh on [net operating income] growth”...
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