Article submitted by Chris Shaheen, Development Specialist for Saurage Rotenberg Commercial Real Estate
Written by Susan Piperato, National Real Estate Investor Apr 23, 2012The seniors housing occupancy rate continued its gradual recovery in the first quarter of 2012, reports the National Investment Center for the Seniors Housing & Care Industry (NIC). However, construction activity and year-over-year rent growth slowed, according to NIC MAP, a data analysis service.
Overall, the average occupancy rate for seniors housing properties in the first quarter of 2012 was 88.4 percent, an increase of 0.2 percentage points from the prior quarter and a 0.8 percentage point increase from a year earlier. The seniors housing average occupancy rate has risen consistently during the past eight consecutive quarters and is currently 1.3 percentage points above its cyclical low of 87.1 percent in the first quarter of 2010.
The occupancy rate for independent living properties in the first quarter of 2012 averaged 88.3 percent, and the occupancy rate for assisted living properties averaged 88.6 percent. Both independent and assisted living properties showed improvement over the previous quarter, rising 0.3 and 0.2 percentage points, respectively.
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Chris Shaheen is a graduate of Louisiana State University where he obtained a Bachelor of Science in Business Management. Shaheen obtained the Louisiana Real Estate Sales License in 1995 where he began work as a consultant with Saurage Company Inc. and remains today as a specialist in development, land valuation, and financing with Saurage Rotenberg Commercial Real Estate.
Saurage Rotenberg Commercial Real Estate is a member of the Baton Rouge Area Chamber of Commerce (BRAC); the West Baton Rouge Chamber of Commerce; the Baton Rouge Growth Coalition; the Baton Rouge Better Business Bureau; the Louisiana Commercial Data Base (LACDB); and the International Council of Shopping Centers (ICSC). Several agents, on an individual basis, are members of the Society of Industrial and Office Realtors® (SIOR), the Certified Commercial Investment Member Institute (CCIM); the National Association of REALTORS® (NAR); and the Greater Baton Rouge Association of REALTORS® Commercial Investment Division (CID).
