The last year was marked by sky-high prices and low cap rates as reported by senior housing real estate investment trusts (REITs) in quarterly earnings calls, and now the numbers prove that perhaps they’ve been holding off on deals with reason.
The average price for skilled nursing facilities soared to a new record of $85,900 per bed in 2015, according to recently released data from Irving Levin Associates, while the average price per unit in assisted living set records as well at $189,200. These prices represent 12% and 1% increases from 2014, respectively.
The only product type that experienced a decline in value was independent living, according to the data.
– Senior Housing