Senior living and care mergers and acquisitions hit another all-time high

The mergers and acquisitions landscape in the senior living and care industry has been particularly vibrant in recent times, with transactions hitting a record high in 2025. According to LevinPro LTC’s analysis, the total value of these deals reached an impressive $30.5 billion, a figure that hasn’t been seen in over a decade.

In total, there were 871 publicly announced transactions in 2025, surpassing the 721 deals that were sealed in 2024 by a significant margin of 20.8%. The surge in mergers and acquisitions was evident right from the start of the year, with 733 deals being announced in the first two quarters alone.

LevinPro pointed out that the robust performance of the senior care M&A market in 2025 was largely due to an environment of improved capital markets. This led to a year defined by record-breaking deals, heightened occupancy rates, a greater number of high-quality assets up for sale, an influx of buyers and sellers, all contributing to the sector’s overall strength. The momentum generated in 2025 is expected to carry through into 2026.

Breaking down the numbers further, senior housing categories like independent living, assisted living, continuing care retirement/life plan, active adult, and affordable senior housing communities collectively made up 59% of all transactions in 2025. Skilled nursing facilities, on the other hand, accounted for 41% of the deals. This represented a slight shift from the previous year, where senior housing made up 56.3% of transactions and skilled nursing comprised 43.7%.

During the fourth quarter of 2025, assisted living emerged as the dominant player in mergers and acquisitions, capturing 44% of the total activity. Skilled nursing followed closely behind with a 32% share, while independent living deals accounted for approximately 17% of transactions. Continuing care retirement communities (CCRCs) and active adult communities each represented 3%, with affordable senior housing transactions making up 1% of the total.

Buyer interest in the sector has come from a diverse range of sources, including existing industry players, re-entering players who were previously sidelined, and new entrants. These buyers are attracted to the industry’s strong long-term outlook, characterized by improving occupancy rates, limited supply, and growing demand. Predictions from Polsinelli’s real estate practice group suggest that record acquisitions could once again be on the horizon for assisted living, memory care, and skilled nursing in the near future.