Seniors Housing Business is the magazine that helps you navigate the evolution of the seniors housing industry.
Issue link: https://seniorshousingbusiness.epubxp.com/i/566450
ASHA 50 10 2015 ASHA 50 2015 This year's ASHA 50 survey was conducted as of June 1, 2015 and refects the dynamics that shape the seniors housing landscape including: continued consolidation, abundant access to capital, and an increased pace of construction activity for assisted living and memory care residences. Seniors housing real estate owners The total number of units owned by the 50 largest U.S. seniors hous- ing owners is 585,451 units. With its 2014 acquisition of Emeritus Senior Living, Brookdale has become the largest seniors housing company in the U.S. with 82,356 units — a milestone in the history of the ASHA 50. Ventas Inc. follows as the second largest owner with 69,708 units. Health Care REIT Inc. is the third largest owner with 59,786 units, followed by HCP Inc. with 49,731 units. HCP recently completed an $847 million acqui- sition of 5,025 units that had been owned by Ontario-based Chartwell Retirement Residences. 1 Senior- Housing Properties Trust owns 34,772 units and rounds out the largest fve owners, all of whom are public companies and account for about half of the total owned units among ASHA 50 owners. Publicly traded companies in this year's ranking represent 28% of the largest 50 owners, and account for nearly 63% or 366,964 units of the total owned units. NorthStar Healthcare recorded sig- nifcant growth this year, increas- ing its holdings by 10,444 units to 17,514 units in 209 properties. Newly formed publicly traded real estate investment trust New Senior Investment Group, which spun off from Newcastle Investment Corporation in November 2014, is among the top 10 owners with 14,838 units. Privately-held, for-proft com- Owners Units Median Portfolio Size 5,217 Mean Portfolio Size 11,709 Portfolio Size of Largest Owner 82,356 Portfolio Size of Owner Ranked #50 2,780 Total Units Owned 585,451 Operators Units Median Portfolio Size 4,395 Mean Portfolio Size 9,891 Portfolio Size of Largest Operator 110,443 Portfolio Size of Operator Ranked #50 2,883 Total Units Operated 494,548 ASHA 50 Survey Highlights Continued consolidation, abundant access to capital, and an increased pace of construction activity for assisted living and memory care residences. 1. The portfolio was acquired in a RIDEA structure, with Brookdale owning a 10% interest and con- tinuing management of these 35 properties under a long-term management agreement. ASHA 50 survey highlights ■ Increased industry growth amongst owners and operators over the past 20 years. ■ Largest 25 owners account for about 85% of the largest 50. ■ Largest 25 operators account for 82% of the largest 50. 600,000 500,000 400,000 300,000 200,000 100,000 0 '95 '96 '97 '98 '99 '00 '01 '02 '03 '04 '05 '06 '07 '08 '09 '10 '11 '12 '13 '14 '15 Year Seniors housing units owned by largest 10 and largest 25 frms, 20 years Largest 25 Largest 10