The goal of NIC’s Financial Benchmarking Initiative is to create time series database that allows for consistent financial benchmarking of select property-level operational revenue and expense categories across rental seniors housing properties. Additional market metrics include average RevPOR, average RevPOR, Modified NOI Index (based on variable expenses such as wages, food, and utilities) and Margin Index.
As a result of the Financial Benchmarking Initiative, the seniors housing sector will benefit from more capital flowing into the sector from more sources of capital and providing more affordable capital. Ease of access to debt and equity capital will assist with refinancing and property expansions as well as facilitate more efficient property sales transactions—both acquisitions and dispositions. Consistency and comparability across financial metrics is beneficial for comparison and benchmarking purposes within the seniors housing sector as well as being able to compare seniors housing with other commercial real estate property types as the sector competes for capital.
Reported results during the four-quarter Beta test period will be provided only to the operators contributing data.