Consolidation is “one of the clear trends” among continuing care retirement communities, also known as life plan communities, according to Chicago-based specialty bank Ziegler.
“Overall, nearly 66% of life plan communities are part of a multi-site organization, meaning at least two distinct communities (although not all communities within the system may necessarily by life plan communities),” Ziegler said in its latest “Senior Living Finance Z-News” newsletter.
More for-profit communities are part of multi-site organizations than are not-for-profit communities, with 81.9% and 60.7% of the respective community types being part of such organizations, Ziegler said.
The specialty bank’s findings relate to its overall count of 1,950 existing CCRCs, approximately 77% of which are not-for-profit and 59% of which are faith-based.
See the newsletter for additional information.