Brookdale Senior Living reported 23 consecutive months of year-over-year weighted average occupancy growth in an update released Monday.
According to the Brentwood, TN, senior living operator, the company’s September weighted average occupancy of 78.2% represented a 60 basis point increase sequentially over August’s occupancy of 77.6%. The September 2023 occupancy represents a 130 basis point increase over the September 2022 level.
Weighted average occupancy increased sequentially each month within the third quarter, according to Brookdale. Third quarter weighted average occupancy of 77.6% represented 110 basis points of sequential growth compared with the second quarter.
The news comes after Brookdale previously announced it had seen the highest number of move-ins in the past five years in August, reaching more than 2,200 move-ins across its communities.
During a second-quarter earnings call in August, Brookdale President and CEO Lucinda “Cindy” Baier said that the company had increased occupancy each month in the second quarter, returning to an occupancy level greater than that at the end of 2022.
Baier said at the time that she was confident that the company would remain on the path of occupancy growth into the future, “capturing an organic growth opportunity that has more potential for positive emomentum than at any other point in the past decade.”
Bookdale operated and managed 672 communities in 41 states as of Sept. 30, with the ability to serve more than 60,000 residents. It is the largest operator and third-largest owner of senior living communities, according to the 2023 ASHA 50 list from the American Seniors Housing Association. Brookdale also topped Argenum’s 2023 list of largest providers, with 55,430 total units.
The company had 265 communities recognized in the US News & World Report Best Senior Living program for 2023.
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