“In a new question to the ESI, respondents were asked what areas have been impacted by the rising interest rate environment. Purchasing properties was the area most reported to be affected by rising interest rates, followed by the ability to recapitalize properties. Across all care segments, one in twelve operators (8%) indicate that their abilities to purchase, sell, and recapitalize properties have all been impacted by the rising interest rate environment.
The senior housing stabilized occupancy rate for the NIC MAP Primary Markets edged up to 84.3% in the February 2023 reporting period, up 0.2 percentage point (pps) from the January 2023 reporting period on three-month rolling basis, according to intra-quarterly NIC MAP® data, released by NIC MAP Vision. From its pandemic record low of 80.3% in June 2021, senior housing stabilized occupancy increased by 4.0pps but remained 5.1pps below pre-pandemic March 2020 levels of 89.4%.
3Q 2022 NIC Lending Trends Report NIC Analytics has released the 3Q 2022 NIC Lending Trends Report. The quarterly report, available for free to NIC’s constituents, currently tracks $85.1 billion in senior housing and nursing care loans. The report includes data over six years for construction loans, mini-perm/bridge loans, and permanent loans from 3Q 2016 through 3Q 2022.