Investors are eager to buy skilled nursing facilities–and prices are still high, even though many properties are still recovering from spikes in occupancy that took place during the height of the pandemic, Wealth Management reports.
Skilled nursing properties are the one of most complicated kinds of housing for seniors. These communities also suffered some of the worst of the coronavirus pandemic, and many have not yet recovered.
“The market fundamentals don’t necessarily support the prices—but they haven’t fallen yet,” says Beth Burnham Mace, chief economist and director of outreach for the National Investment Center for Seniors Housing & Care (NIC), headquartered in Annapolis, Md.
Investors paid an average of $93,000 per bed for skilled nursing facilities in 2021, according to data from Real Capital Analytics, based in New York City. That’s 10 percent higher than the price investors paid in 2020. Read more.
