The average price per bed in nursing home acquisitions rose 1% to $38,400 in 2002, while prices for assisted-living units reflected an abundance of financially distressed properties but not a collapse of the overall market, said Irving Levin Associates, New Canaan, Conn. After a five-year climb, the average price paid per assisted-living unit dropped to $65,200 in 2002, compared with $85,500 in 2001. More than 60% of the assisted-living facilities sold in 2002 were built during the late 1990s, Irving Levin said. -- by Julie Piotrowski
Assisted-living units sold for less in 2002: study
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