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As its acquisition by Ventas looms, expected to close before the end of the year, New Senior Investment Group’s portfolio is experiencing low COVID-19 case counts and upward-trending occupancy.

The real estate investment trust released data for the second quarter Friday without holding an earnings call.

“While national COVID-19 case counts have increased recently, confirmed resident cases across our portfolio remain low. As of July 26, our operators reported four active resident cases across the entire portfolio,” the REIT said in a press release.

That’s four active cases among approximately 10,000 residents across 103 senior living communities.

As of June 30, New Senior’s portfolio included one continuing care retirement community operated by Watermark Retirement Communities and 102 independent living communities, 77 of them operated by Holiday Retirement, 21 operated by Atria Senior Living (transitioned to Atria from Holiday effective April 1) and the remaining four operated by four individual companies. (July 1, after the quarter had ended, 10 properties were transitioned to Hawthorn Senior Living and two properties were transitioned to Grace Management.)

Occupancy at the end of the second quarter was 150 basis points (1.5%) higher than occupancy at the end of the first quarter, with a month-over-month growth trend evident: April ending occupancy grew by 40 basis points (0.4%) over the previous month, May grew by 10 basis points (0.1%) and June grew by 100 basis points (1%).

May occupancy was “muted” as the portfolio experienced a higher level of move-outs, New Senior said, but June occupancy growth accelerated “significantly,” as move-outs stabilized and portfolio properties continued to see strong and improving move-in volume.

“Both leads and move-ins trended above average 2019 levels and continued to improve throughout the quarter,” the REIT said. “Total move-outs in the second quarter trended below average 2019 levels despite the uptick in May.”

New Senior said it expected July occupancy to end having increased by 80 basis points (0.8%) over the previous month.

“Despite a recent rise in COVID-19 cases nationally, both leads and move-ins continue to trend above average 2019 levels,” the REIT said, adding that move-outs in July were expected to improve sequentially for the second consecutive month and remain below average 2019 levels.

The REIT experienced a net loss of $13.3 million during the quarter. Total net operating income was $29.4 million, and total same-store cash NOI was $22.4 million.

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