Lending for seniors housing is following the trends seen in many other commercial real estate asset classes – it's declined greatly – as it faces similar challenges from tightening lending standards and wider spreads.
New permanent debt issuance reached a time series low for senior housing and a near-record low for nursing care, according to NIC Analytics' 1Q 2023 NIC Lending Trends Report.
"Credit conditions have changed dramatically because of the Federal Reserve's efforts to slow economic growth to stem inflation through a series of interest rate hikes since March 2022," according to NIC's report by Beth Mace and Omar Zahraoui.
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