This past February, M&T Bank Corporation announced its intention to merge with People’s United Financial, Inc. with M&T Bank as the surviving entity. The merger—expected to close in October—brings together two powerhouse seniors housing and care lenders.
While it is still early to say if the seniors housing and care market is showing strong and durable signs of a recovery, several indicators from the NIC MAP® Data, powered by NIC MAP Vision, and from NIC Analytics have sparked cautious optimism and suggest that we may be at least at the bottom of the cycle. Occupancy rates may have reached the low point in February and March of 2021; however, the outlook for when occupancy will return to pre-pandemic levels remains a question.
NIC provided a grant to NORC at the University of Chicago (NORC) to study the disparate effects of the pandemic on different seniors housing and care settings. The study results have just been released.
The senior living industry has adapted and evolved through the COVID-19 pandemic. In the latest NIC Leadership Huddle, titled “Trends That Will Shape Senior Living Post-Pandemic,” subject matter experts discussed how the pandemic has shaped the industry, and how some changes will likely remain. They explored trends to watch for, both short term and long term – and identified best practices to help operators and their capital providers stay ahead of the curve.