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Assisted Living Prices Reach All-Time Highs

For Assisted Living property owners, it has very much been a seller’s market.

That’s because the average price per unit of assisted Living communities reached an all-time high in 2016, according to a newly released report.

Specifically, the average price per unit of Assisted Living Communities sold last year was more than $196,600, which is 2.4% higher than the average price per unit of assisted living communities sold in 2015, the report from Irving Levin Associates says.

The new record may be attributable, in part, to the number of high-priced acquisitions that took place last year. Twenty-three assisted living communities sold for upwards of $300,000 per unit in 2016, while several others sold for more than $500,000 per unit, the report notes.

The average price per unit of independent living communities, meanwhile, reached $228,150 in 2016—that’s up 18% from the average price per unit in 2015.

Assisted living properties are still trading at a higher rate than independent living properties. In fact, there are 3.75 assisted living buildings traded for every one independent living building sold, the report says.

All the while, senior housing property values and acquisitions appear to be minimally impacted by labor and development headwinds, Irving Levin notes.

Written by Mary Kate Nelson

The post Assisted Living Prices Reach All-Time Highs appeared first on Senior Housing News.



This post first appeared on Business Insight And Information - Senior Housing News, please read the originial post: here

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Assisted Living Prices Reach All-Time Highs

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