The NIC MAP Data Service recently unveiled its latest product enhancement to the NIC MAP Local Property Search tool as it introduced a new class of trade areas based on drive time or driving distance from a seniors housing, skilled nursing property or targeted location. Drive-time analysis allows a user to customize a trade area or primary market area (PMA) by selecting the number of minutes it takes to drive to a destination property or location, while selecting between three different traffic flow patterns, reflective of low, medium and high traffic conditions.
As the seniors housing and care industry's leading data provider, NIC tracks occupancy, rental rates, supply and construction data for independent living, assisted living, memory care, skilled nursing and continuing care retirement communities (CCRCs)/life plan communities (LPCs). Through the NIC MAP® client portal, subscribers have access to robust web-based tools and reports, including market-level summaries and historical time-series data for seniors housing supply and demand market fundamentals that can be accessed by filtering different data aggregations.
Returns Strong. Third-quarter investment return data for the NCREIF-reported seniors housing properties equaled 2.73%, composed of a 1.38% capital return and a 1.36% income return. The annual total return through the first quarter of 2017 was 12.72%, overshadowing the NCREIF Property Index (NPI) result of 6.89% and the apartment result of 6.22%. However, industrial total returns slightly outpaced seniors housing at 12.80%. Despite the relatively strong showing, the total annual return for seniors housing has been trending down since mid-2014 when it peaked at 20.37%. This pattern can also be seen in the broader index and reflects a slowdown in the appreciation component of the index.