Brentwood, TN-based Brookdale Senior Living remains the largest operator of senior living communities on an American Seniors Housing Association’s ASHA 50 list for 2020 compared with 2019, and Toledo, OH-based real estate investment trust Welltower remains the largest owner of senior living communities on a companion list. The annual top-50 rankings were released Wednesday.
Brookdale’s efforts to downsize, however, are noticeable in total unit trends over the past few years. On the recent lists of largest operators, for instance, the company was noted for 96,026 units in 2018, 76,803 units in 2019 and 62,562 units in 2020. Brookdale is No. 3 on the list of owners for 2020, but the company owned 65,584 units in 2018 (when it topped the list of owners), 55,236 units in 2019 and 31,130 in 2020.
Factoring into the overall rankings are independent living, assisted living and memory care units, as well as skilled nursing beds when they are part of larger retirement complexes such as continuing care retirement communities, also known as life plan communities, and do not account for more than 30% of total beds. Affordable housing units do not factor into the rankings.
On the owners list, eight of the top 10 companies in 2020 also were in the top 10 in 2019 and 2018. The same three companies — Welltower, Ventas and Brookdale — had the same positions among the top three spots in 2019, and those companies also occupied the top three spots on the 2018 list, although in a different order. Welltower had more units in 2020 than in 2018 but fewer than in 2019, whereas Ventas’ number of units has remained relatively stable.
Harrison Street Real Estate Capital and National Health Investors are new to the top 10 list of owners in 2020 compared with the prior two years, with Harrison Street having ranked No. 11 in 2018 and No. 12 in 2019 and NHI ranking No. 13 in 2018 and No. 11 in 2019.
New Senior Investment Group dropped three spots from the 2018 and 2019 lists to No. 11 on the 2020 list of owners. The Evangelical Lutheran Good Samaritan Society, No. 9 in 2018 and 2019, landed in the No. 29 spot on the 2020 list of owners.
On the operators list, nine of the top 10 companies in 2020 also were in the top 10 in 2019 and 2019. In fact, the top eight have stayed in the same positions all three years. Only Enlivant is new to the top 10 list this year compared with the previous two years, having been No. 12 on both the 2019 and 2018 lists.
Capital Senior Living moved up one spot to No. 9 on the list of operators this year, having also been No. 9 in 2018. Good Sam, No. 9 in 2019 and No. 10 in 2018, landed at No. 21 on the 2020 list of operators.