Chicago-based Ventas received substantially all April and May rents from its triple-net senior housing tenants, according to an investor presentation posted in conjunction with the real estate investment trust’s talk this week at Nareit’s REITweek Investor Conference. 

The REIT noted that although move-in and move-out trends have improved from mid-April, the firm still expects its seniors housing operating portfolio occupancy decline to drive a $2 million to $3 million revenue decline per month for the foreseeable future.

Occupancy rates fell below 80% in May compared with 84% on April 2. At the same time, the firm’s seniors housing total operating expenses rose by roughly 10% to combat the pandemic.

Meanwhile, Irvine, CA-based Healthpeak Properties received 97% of rent from its triple-net seniors housing tenants, with 3% deferring, the REIT told conference investors this week.

Occupancy among the REIT’s seniors housing portfolio fell to 79.5% as of May 31, a drop of 190 basis points from April 30. Healthpeak also shared that it has approximately $2.8 billion in liquidity as of June 1, consisting of $300 million in cash and $2.5 billion in its revolving credit line.