Call Us 520-797-4000

Occupancy on the Rise

August 01 2023
Growth Chart
Watermark continued to see steady occupancy growth throughout 2022 and into 2023.  Total occupied beds has grown by more than 12% over the last 12 months which was highlighted by a 53% increase in occupancy for the development portfolio. Stabilized assets reached average occupancy of 90.2% with the balance of the portfolio (non-stabilized and non-developments) achieving nearly 7% growth during that time. 

Watermark continued to see growth in the Élan Collection assets highlighted by the continued success of The Hacienda at the Canyon (now achieving a 50%+ margin at 72% occupancy), strong results along the lease-up curve at The Watermark at Brooklyn Heights and The Watermark at Westwood Village (both communities hit break-even NOI at mid-30s occupancy) and the fantastic start at The Hacienda at Georgetown which is poised to reach 53% occupancy withing the first eight months of operations.

These results provide a ton of optimism as the balance of the Élan Collection continues its lease-up trajectory and the development pipeline delivers during the rest of 2023 and into 2024.
View the full Summer edition of On The Mark

On the Mark is an exclusive resource for our partners that provides a glimpse inside Watermark Retirement Communities. View more stories about our continuous innovation, current challenges and how we’re overcoming them, and the unique approaches we take and solutions we develop to succeed in the complex business of senior living.

Read More Stories