NIC: Seniors Loan Volume Rose in 4Q

Loan volume placed for the fourth quarter on senior housing and care properties was up 53% compared with that of a year ago, according to the National Investment Center for the Seniors Housing & Care Industries.The Annapolis, Md.-based organization also reported that capital placed in the industry was up 26% for the fourth quarter compared with the third-quarter level, with the total amount outstanding remaining fairly constant at $11.4 billion. "When looking at the amount of permanent debt placed during the quarter by product type, there was a pretty hefty increase on the independent-living side," said Ray Lewis, an NIC board member and senior vice president and chief investment officer of Ventas. "That could be reflective of the increased role that the 'agencies', Fannie Mae and Freddie Mac, are playing." Short-term debt outstanding for assisted-living properties increased by about 13%, and the skilled nursing sector had the highest level of delinquencies, NIC said.