The recently released 4Q2021 NIC Lending Trends Report report shows issuance of new mini-perm/bridge loans for senior housing hit a recorded high in the time series in fourth quarter 2021, while the issuance of permanent senior housing loans moderated. This may suggest that some lenders are more comfortable with the lower-risk shorter-term nature of mini-perm/bridge loans as some senior housing operators build occupancy and demonstrate a longer performance track record.
Curious about what happened with asking rates and actual rate discounting in 2021 or how move-in patterns differed by care segment? Then read on for key takeaways from the recently released 4Q2021 NIC MAP® Seniors Housing Actual Rates Report, available to NIC MAP® subscribers.
The just released 3Q2021 NIC Lending Trends Report shows issuance of new senior housing construction loans jumped in the third quarter of 2021. The increase occurred despite challenges facing new development such as supply chain disruptions, high demand, and rising prices for materials, services, and labor. This indicates that keen interest in new construction and development is returning, reversing the slowdown in lending activity seen earlier in the pandemic.
Did move-ins continue to outpace move-outs in the third quarter 2021? What were the rate discounting trends by segment? How did asking rates grow on a year-over-year basis? The 3Q2021 NIC MAP® Actual Rates Report, available to NIC MAP subscribers, offers third quarter data trends through September 2021 for actual rates and leasing velocity. We’ve summarized some of the key takeaways from the report below.