Even as the first doses of a COVID-19 vaccine are set to be administered this week, many in the senior living industry are predicting a long, dark winter ahead, with continuing occupancy and move-in rate declines, noted speakers at a Thursday webinar hosted by Marcus & Millichap.
The future of senior living post-pandemic is healthcare-based, and it will be more difficult for operators who don’t take that approach to maintain a leg up, speakers said Thursday at a senior housing investment webinar hosted by Marcus & Millichap.
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As Nareit’s REITworld: 2020 Annual Conference wrapped up last week, analysts at Mizuho Securities USA say they remain positive on the skilled nursing sector given the promising vaccine news, strong government support of the industry and an improving acquisitions outlook. And although the vaccine news also is a major positive for senior housing, analysts also worry that the recent rally in the sector’s stocks may be reflecting a far rosier recovery than likely is to occur, and that the 2021 earnings outlook may disappoint.
Despite strong rent collections in October and November, Murfreesboro, TN-based National Health Investors may be in for some tough quarters ahead as its senior housing portfolio faces additional stress due to COVID-19 surges among its tenants.
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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 Welltower remains the largest owner of senior living communities on a companion list. The annual rankings were released Wednesday.
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Murfreesboro, TN-based National Health Investors said Tuesday that it had collected 95.3% of contractual rent in August and deferred 4.2%, including 2.5% related to a previously disclosed deferral to Bickford Senior Living.
COVID-19 has had a negative effect on the senior living industry, impacting operator revenues and building occupancy rates, but National Health Investors’ leadership said during a second-quarter earnings call that its operators have performed well considering the challenges.
