Reasonably healthy activity in terms of demand continued for the seniors housing market in the first quarter of 2000, according to information released today by the National Investment Center for the Seniors Housing & Care Industries ( NIC).

The strongest activity appeared among congregate care properties - communities offering common dining and activity areas for senior residents, but limited support services. The most recent monthly move-in rates (net of move-outs) were reported as five per congregate care property, while occupancy rates continued to exceed 90 percent.

Construction starts showed there is a high degree of activity, with 52 new congregate care properties worth a total of $397 million in construction value started during the quarter.

Overall, more than $815 million of project financing was placed in the seniors housing and long term care industry by the reporting lenders during the quarter ending March 31, 2000.

Updated quarterly and posted on NIC's Web site - www.NIC.org - the NIC Key Financial Indicators represent the most up-to-date single compilation of financial information, operating performance and valuation benchmarks for the industry. They include details on loan volume and loan performance, construction starts, occupancy rates and move-in rates, and capitalization rates as reported by leading lenders, owner/operators and appraisal professionals in the industry.

The next update, showing results through the second quarter of 2000, will be posted on NIC's Web site in the fall.

In addition to the Key Financial Indicators, NIC's Web site features a composite Index measuring the stock market value of publicly traded seniors housing and long term care companies; a Competitive Tracker listing stock prices, news updates and trading information for individual companies; and the SEC Corner, where key Securities and Exchange Commission filings from those companies are posted every week.

Founded in 1991, the National Investment Center for the Seniors Housing & Care Industries supports efficient capital formation for the seniors housing and care industries through research, networking, and providing business and financial information. Proceeds from its annual conference, attended by more than 1,000 decision-makers in the financial and senior living industries, are used to fund NIC's research and educational initiatives. For more information, visit www.NIC.org or call 410/267-0504.

Published: September 11, 2000

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