2020 ASHA 50 Rankings Show Top Owners Divested, Diversified

WASHINGTON, D.C. — The American Seniors Housing Association (ASHA), in partnership with Seniors Housing Business, has released the 2020 edition of the ASHA 50, which ranks the 50 largest owners and operators in the U.S. seniors housing space.

Based in Washington, D.C., ASHA is a trade association that advocates for and represents companies that develop, own, operate and finance seniors housing. The ASHA 50 rankings are based on self-reported portfolio sizes, ranked by total number of units, as of June 1, 2020. Data was also used from other reliable sources, such as public filings.

Although the three largest owners — Welltower, Ventas and Brookdale Senior Living — held their spots, all three sold off a significant number of properties since the 2019 ASHA 50. Welltower fell from 72,881 to 68,689 units; Ventas from 58,903 to 58,425 units; and Brookdale from 55,236 to 31,130 units. Welltower and Ventas, both REITs, have noted in quarterly reports that they are trying to diversify their portfolios to be less reliant on seniors housing.

Two other REITS did expand their total seniors housing units, though, and rose in the rankings as a result. Healthpeak Properties, which was still known as HCP as of the 2019 rankings, jumped from sixth place to fourth place by growing from 25,749 units to 30,401. National Health Investors jumped from 11th to ninth place by growing from 12,228 units to 12,852.

On the operator side, there were far fewer changes — the eight largest operators stayed in the exact same order. Brookdale finished first with 62,562 units under management, followed by LCS with 40,001 and Holiday Retirement with 31,684.

To view the entire ASHA 50 supplement, click here.