Like other pockets of commercial real estate, the seniors housing market experienced major low points in the third quarter, according to a new report.
The number of publicly announced seniors housing and care acquisitions in the quarter fell to 58 deals that were announced, a new low according to a report from Irving Levin Associates.
That dip only represents a 3% decline from the 60 transactions in the previous quarter, but it's a steep 44% drop from the 104 deals made public in the third quarter of 2019. On the bright side, the $1.48 billion spent on third-quarter transactions shows an increase from the previous quarter's total of $1.36 billion by 9%, based on publicly disclosed prices. However, compared with the third quarter of 2019, when $5.74 billion was spent, dollar volume nosedived by 74%.
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
