The largest senior housing providers in the nonprofit sector for 2016 have been selected, with the information in a yearly report from industry association LeadingAge and investment bank Ziegler.
In this year’s 13th annual LeadingAge Ziegler 150 (LZ 150), more than three-quarters of the providers on the list are faith-based, and nearly half provide affordable housing for seniors.
Of 150 of the leading senior living providers, the top 25 include National Senior Campuses, The Evangelical Lutheran Good Samaritan Society, ACTS Retirement Services, Inc. and Presbyterian Homes and Services, according to the 2016 LZ 150 report.
The qualifications for the LZ 150 shifted slightly this year, allowing health systems to be eligible if they have a dedicated senior housing component, Lisa McCracken senior vice president of Ziegler, explained to Senior Housing News.
There were four new entries to the list this year because of the change: Benedictine Health, Ascension Senior Living, Trinity Senior Living and Presence Life Communities.
“This was the first change we’ve made to the qualifications in 13 years,” McCracken said. “The change in structure of health systems in recent years has allowed for better tracking, which allowed companies like Ascension to have a greater commitment to monitoring and tracking data.”
The LZ 150 is determined by the overall number of market-rate units within an association’s system as of Dec 31, 2015.
The top 10 largest organizations:
1. National Senior Campuses, Maryland
2. The Evangelical Lutheran Good Samaritan Society, South Dakota
3. ACTS Retirement Services, Inc., Pennsylvania
4. Presbyterian Homes and Services, Minnesota
5. Benedictine Health, Minnesota
6. Covenant Retirement Communities, Illinois
7. Ascension Senior Living, Missouri
8. Retirement Housing Foundation, California
9. Lifespace Communities, Iowa
10. Trinity Senior Living Communities, Michigan
As a whole, the metro areas with the highest number of headquarters of the top 150 providers on the list are Chicago, Minneapolis, Philadelphia and St. Louis, the report found.
On a state level, Pennsylvania ranked first with 23 locations, and Illinois, Minnesota and Ohio tied for second with 10 headquarters. Coming in third place, California and New York both had eight organization headquarters on the LZ 150.
The organizations range from 588 market-rate units for St. John’s Lutheran Ministries, located in Montana, to 18,527 market-rate units for National Senior Campuses, headquartered in Maryland.
Though the market-rate units increased in 2015, the number of new communities was flat year-over-year. A large portion of the increase in units was from growth through affiliation and acquisition, the report stated.
“Consistent with what we’ve seen in previous years when you look at where the most growth is coming from, post recession, nonprofits in 2015 are still largely grown through campus expansion and affiliations,” McCracken said.
Written by Alana Stramowski