Rovner's enthusiasm is based on the numbers, Rovner tells GlobeSt.com. ERA Care Communities' five-properties here are sporting occupancy rates between 96% and 100%. "The industry as a whole in Puget Sound (the properties in which cut a broad swath across quality and amenities) is running between 90% and 95% occupancy," he says.
Rovner attributes the success for a "host of reasons. For one, he believes the elderly didn't have as much money invested in high-tech companies and, as such, were less affected by the havoc the securities markets the last few years. For another, he notes the strong value increases in Puget Sound housing--with the equity in retirees' homes putting a boost to their retirement assets.
Punctuating Rovner's characterization of the market are the numbers being posted by ERA Care Communities' latest project, the University House at Issaquah. Now under construction, the center has received deposits on 147 of its 212 units six months before the first tenants are scheduled to occupy the building.
Recommended For You
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
