What is a CCRC?
Direct answer
A CCRC, or continuing care retirement community, also called a life plan community, offers several levels of care on one campus, typically independent living, assisted living, memory care and skilled nursing. Residents can move between levels as their needs change. For investors, CCRCs are the largest and most complex senior housing deals, with several licenses on one campus.
What to know
Many CCRCs charge residents an entrance fee plus monthly fees, while others use rental models. The contract type shapes the community's finances.
CCRCs trade at some of the lowest cap rates in senior housing, about 5.5% to 7.0%.
Buyers are mostly institutional investors, nonprofits and family offices, because of the size and regulatory complexity.
How Haven helps
Haven advises on CCRC and life plan community transactions as part of its senior housing brokerage. Read our senior housing market outlook.