NIC Expands Seniors Housing Occupancy and Rate Data Coverage to Top 100 U.S. Markets

Press Room – 2009 NIC Press Releases

NIC Expands Seniors Housing Occupancy and Rate
Data Coverage to Top 100 U.S. Markets

FOR IMMEDIATE RELEASE: April 16, 2009
Contact: Renee Tilton, (410) 626-0805 or rtilton@crosbymarketing.com

Annapolis, Md. – Quarterly supply and demand data on seniors housing and care properties will be expanded to the nation’s top 100 metro markets beginning with the 1Q09 data release, according to the National Investment Center for the Seniors Housing & Care Industry (NIC). Provided by NIC MAP®, a subscription-based data reporting and analysis service from NIC, the expansion from the current 31 markets will be available beginning in June 2009.

“The most comprehensive database covering seniors housing and care just got more robust,” said Casey Moore, managing director, Red Capital Group, and chair of the task force that helped create NIC MAP. “From the largest metro, New York City, to the one-hundredth largest in Lancaster, Pennsylvania, financiers and operators with properties in the majority of the nation’s cities will now have access to data that can give them true insight into a market’s viability and competitive status.”

First introduced in 2004, NIC MAP was created to help bring transparency to the seniors housing and care industry. The service has increasingly become an indispensible tool for those who invest in, lend to, own, operate or build properties. “The expansion will cover the vast majority of properties of professionally managed owners and operators in our industry,” added Moore.

“Beginning this summer, when the number of metros we report on will jump to 100, our data will cover nearly two-thirds of the 75+ population and over 12,500 properties,” said Michael Hargrave, vice president – NIC MAP. “As a comparison, the top 31 markets currently covered by NIC MAP represent 43 percent of the 75+ population and 7,600 of the nation’s seniors housing and care properties.”

Every quarter, NIC MAP tracks occupancy rates, inventory growth, supply and demand, construction starts, and revenue on market-rate (25 or more units/beds) properties that are independent living, assisted living, continuing care retirement communities (CCRCs) and nursing care.

In addition, the service provides demographic information and property characteristics. The supply database includes the property’s name, address, profit status, property type and number of units/beds. For construction starts, data points include the property type, location, expected opening date and number of units under construction.

“No other organization has the depth and expanse of industry data as NIC does,” said Jim Stroud, chairman, Capital Senior Living Corporation. “Not only has the service helped us make strategically based decisions, but it gives us another point of comparison to our on-the-ground market analyses.”

A list of all 100 metro markets tracked by NIC MAP follows. For more information, visit www.NICMAP.org or call (410) 267-0504.

About NIC

Founded in 1991, the National Investment Center for the Seniors Housing & Care Industry is a nonprofit education and research organization providing information about business strategy and capital formation for the senior living industry. NIC is the leading provider of historical and trend data on the industry through its NIC MAP® Data and Analysis Service that tracks properties in the 100 largest metropolitan areas and its Key Financial Indicators™ (KFIs) that report nationwide statistics. Proceeds from its annual conference and other events are used to fund data and research on issues of importance to lenders, investors, developers, operators, and others interested in meeting the housing and care needs of America’s seniors. For more information, visit www.NIC.org or call (410) 267-0504.