The seniors housing occupancy rate is still seeing a slight recovery in the first quarter of fiscal 2012, although rent growth and construction activity has dipped, new data shows.
The recovery for the sector is “slow but steady,” said Michael Hargrave, vice president of NIC MAP, the data analysis service of the National Investment Center for the Seniors Housing & Care Industry
The assisted living occupancy rate in the first quarter averaged 88.6%, an increase of 0.2%, according to NIC MAP. The occupancy rate for skilled nursing facilities was unchanged from the previous quarter — at 88.2% — in the first quarter of fiscal 2012. Private pay rents for SNFs grew 3%, which was a slight decline over the fourth quarter.
Michael is an accomplished leader with deep expertise in the healthcare sector. As the CEO of Prime Source, he has driven innovation and strategic growth in healthcare procurement and management. His extensive knowledge of the industry has made him a sought-after speaker, regularly lecturing at trade groups, seminars, and to industry executives on the most pressing healthcare trends and challenges. Michael is passionate about exploring the intersection of business and healthcare, providing thought leadership that shapes the future of the field.