Irving Levin Associates has released the 29th Edition of The Senior Care Acquisition Report, a comprehensive study of the 2023 M&A market and valuation metrics for seniors housing and care properties, with dozens of graphs, charts and statistics.
NEW CANAAN, Conn., March 1, 2024 /PRNewswire-PRWeb/ -- Irving Levin Associates has released the 29th Edition of The Senior Care Acquisition Report, a comprehensive study of the 2023 M&A market and valuation metrics for seniors housing and care properties, with dozens of graphs, charts and statistics. The Report is available via a subscription with LevinPro LTC, an M&A news and data platform.
According to the Report, average values dropped across all property types, year over year. But, despite an uneven operating recovery from the pandemic, soaring expenses, labor challenges and a challenging capital markets environment, M&A activity also reached its second-highest total ever in 2023 with 501 publicly announced transactions, a 10% decrease from 2022 in which there were 556 publicly announced transactions.
The average price per unit for the assisted living market plummeted to $145,000 in 2023, down 26% year over year and the lowest level recorded since 2010 ($103,000 per unit). For the independent living market, the average price per unit fell 24% to $196,200 from its record in 2022 of $259,400. The skilled nursing market maintained more strength, but average prices fell from their record levels in 2022 to $97,700 per bed in 2023, a 14.5% decline. That remains above the pre-pandemic average of $93,000 per bed set in 2019.
"Rising interest rates, more stringent lending terms and less liquidity contributed to a collapse in property prices across all senior care sectors, especially as more distressed properties hit the market in 2023," said Ben Swett, Managing Editor of The SeniorCare Investor. "Cap rates rose in turn, largely maintaining spreads over the cost of debt."
For more granular statistics and analysis, access the Report by subscribing to LevinPro LTC.
The 29th Edition of The Senior Care Acquisition Report provides the most comprehensive data and analysis on the seniors housing and care M&A market. Its data is derived from both public & confidential sources, and it has been vetted to contain the most accurate market statistics in the industry. The Report may be accessed through a subscription with LevinPro LTC. To learn more, call (203) 846-6800 or email [email protected].
Irving Levin Associates is a New Canaan, Connecticut-based research and publishing firm specializing in the health care and senior care M&A markets.
Media Contact
Benjamin Swett, The SeniorCare Investor, (203) 803-4593, [email protected], https://www.levinassociates.com/
SOURCE Irving Levin Associates
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