WASHINGTON, D.C. — Welltower Inc. and Brookdale Senior Living once again rank as the top U.S. seniors housing owner and operator, respectively, according to the newly released 2025 edition of the ASHA 50.
Compiled by the American Seniors Housing Association (ASHA), the publication ranks the 50 largest owners and operators nationally. The information is based on self-reported portfolio sizes and ordered by total number of units as of June 1, 2025. Data was also used from other reliable sources such as public filings.
Welltower, which owns 112,641 units across 1,067 properties, grew its portfolio by 9,995 units — a nearly 10 percent increase — between 2024 and 2025. The Toledo, Ohio-based real estate investment trust has stood atop the owner rankings for seven consecutive years.
The size of Brookdale’s management portfolio, which includes 53,510 units across 639 properties, was virtually unchanged from a year ago. Based in Brentwood, Tennessee, Brookdale has ranked as the top operator in the ASHA 50 for more than a decade.
The largest five owners — a carbon copy of last year — account for nearly half (44 percent) of the total units in this year’s ASHA 50. Coming in at No. 2 behind Welltower is Ventas Inc. (73,570 units). Brookdale Senior Living (32,448 units) is No. 3. Harrison Street (24,542 units) ranks No. 4, and Diversified Healthcare Trust (24,173 units) is No. 5.
On the operator side, there has been a shakeup among the top-five ranked companies. While Discovery Senior Living (39,236 units) retains the No. 2 position, LCS (33,766 units) has moved up one notch to No. 3. Erickson Senior Living (26,608 units) moved up one position to No. 4. Greystar Real Estate Partners (24,047 units) moved up two notches to No. 5.
Atria Senior Living (21,693 units) fell from No. 3 last year to No. 7 this year.
Meanwhile, National Senior Communities ranks as the largest not-for-profit ASHA 50 owner with 12,731 units.
To read the digital edition of the 2025 ASHA 50, click here.
— Matt Valley