Ziegler and LeadingAge have released a sneak preview of their annual research project analyzing the largest not-for-profit senior living providers in the U.S., revealing the top 25 multi-site senior living organizations, and there is a new No. 1: National Senior Campuses.
“National Senior Campuses has been pretty aggressive with their growth,” Lisa McCracken, senior vice president of senior living research and development, told SHN. “They have large CCRCs and are continuing to expand into larger campuses. Next year, they will be even larger.”
More organizations—roughly 70%—were planning to expand or reposition an existing community in 2015 and 2016, the 2015 report found.
The full report, 2015 LeadingAge Ziegler 150 (LZ 150), will be released in the fall and will reveal the largest 150 not-for-profit multi-site senior living organizations. The report also names the largest single-site providers and organizations that own and manage the greatest proportion of affordable housing for seniors. LeadingAge is a Washington, D.C.-based consumer information hub with a directory of not-for-profit organizations. Ziegler is a national specialty investment bank based in Chicago.
According to the Ziegler/LeadingAge findings, these are the top 10 not-for-profit seniors housing providers, ranked by total number of units:
1. National Senior Campuses (MD) — 18,122
2. Evangelical Lutheran Good Samaritan Society (SD) — 18,048
3. ACTS Retirement-Life Communities (PA) — 7,993
4. Presbyterian Homes and Services (MN) — 6,867
5. Covenant Retirement Communities, Inc. (IL) — 4,865
6. Retirement Housing Foundation (CA) — 4,098
7. Lifespace Communities, Inc. (IA) — 4,069
8. The Kendal Corporation (PA) — 3,732
9. Lutheran Senior Services (MO) — 3,406
10. Westminster Communities of Florida (FL) — 3,253
Prior to National Senior Campuses taking the top spot, Evangelical Lutheran Good Samaritan Society held the position for the initial 11 years of the report. The remainder of the top-10 list was largely unchanged from last year; National Senior Campuses had the second most market-rate units in 2014.
“The flip-flop has been several years in the making,” McCracken told SHN. “Evangelical Lutheran Good Samaritan Society has become more lean from a property standpoint. We do see this with a number of organizations—they will prune the tree to take a step backward before taking two steps forward.”
Sneak peek highlights:
-Affordable housing among the LZ 150 rose by 3,000 units in 2015 from 2014, representing approximately 73,000 units. Roughly half of the LZ 150 has affordable housing unites for seniors, the report detailed.
-The number of organizations that said they were part of an accountable care organization (ACO) or bundled payment contract is up 7% in 2015 from the previous year, rising to nearly one-third of the LZ1 150.
-Growth in 2014 among the LZ 150 was led by expansions and affiliations/mergers. Affiliations/mergers outpaced the growth through the development of new communities.
-The number of c-suite positions that turned over in 2014 reached 33, compared to 11 in 2013.
-Approximately half of providers offer home and community-based service options.
The full report is considered an analysis tool to enhance the not-for-profit senior living sector.
Written by Amy Baxter