The seniors housing market was profoundly impacted by the pandemic but has been recovering at a steady pace. Throughout the end of 2022 and into the first half of 2023, this market is seeing two divergent trends: occupancy rates continue to recover while new supply eases, but the higher inflation environment has created an additional headwind through rising expenses and interest rate risk. With this stress on financials, examining various seniors housing loan terms may provide insight into market performance.

In this paper, we provide a stylized analysis of cash flow impacts on the performance of the Seniors Housing market, breaking down the differences by looking at Assisted Living and Independent Living properties.

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