Thank John. you,
see we quarter. quarter the days we’re be out woods just noted, better not concessions As our first and expect of fourth comparable to that will but yet ahead, rent Eric the
our the admirably times SLCs disruption pre-pandemic XX% our times in prospects cash average growth independent comparable for occupancy growth. living non-SLC But also at EBITDARM portfolio, optimization. results fourth above in account in basis a The NHI’s headwinds. that special fortunate up December our we of us lease XX% net points flat interested third pandemic was January coverage of XX.X% be and consistently operator SLC revenue living and SLC. start in they entrance approximately out team driven and year a financial largest quarter which coming revenue. and XXX in communities I’ll these communities from The to as which period. deserves quarter. well-positioned CCRCs fee XX since the by We’re minimum is for of In X.XX X.XX position are with our for encouraged the remained the annualized pandemic. annualized improved communities helps deferrals Occupancy at start in are from we’re great more to continued freestanding of outperformed prior was have the of of are the Senior properties our cash see levels. discussing the very at of recognition kept in portfolio, our strong XX.X%, withstand
this quarter. annualized the gains quarter properties housing attribute the deferrals XXX as growth the senior portfolio seasonality, driven cases. as which month for to cash needs of group accounts end most of the XX% well approximately pandemic. said, our occupancy from into normal slowed which net of towards fourth new Our recent we occupancy disruption generally This COVID and experienced first surge more the the That throughout in of experienced revenue of has year,
as Omicron. operators impact any Fortunately, to result resident a safety our of not health reported have and significant
labor, X.XX months. last our needs on the EBITDARM impact had but However, X.XX group overtime couple times clearly have has XXX times of basis an staffing, coverage to of points Bickford. The and focus the in and restructuring of up is was excluding activities. disposition been XXX when the assets this which declined for to resulted agency use and has driven in the
as we targeted as coverage improve result sympathetic X.X a that So given families to at last will On a issues. note, residents discussed we times typically expect metrics less. labor been that are the have quarter, positive or their and dispositions
seeing are occupancy we sequentially mid-to-high increased basis occupancy the NOI So impact Bickford, relatively revenue in assisted by margins range should largest of cash XX.X% was quarterly points net rate single-digit at with representing XX% increases of XXXX. living stable XX% operator our help and in little annualized XX to in maintain deferrals, which on January.
are in are process and operator to performing of and rent another Bickford our XXX We transitioning selling properties with the second complete new on Bickford the quarter. in track restructuring a to
the portfolio of the sufficient NOI from $XX annual still right cover to of but that million slowed, cash pace As restructuring been sized our rent. confident noted, has be we’re will generated
of during net holiday the X% independent group only revenue deferrals XX to cash not our for annualized pay did Turning our communities. quarter. rent our living of properties This as accounted
skilled pandemic points. estimate process margins this of We mid to occupancy to portfolio and property XX% the significant and currently, begin from Discovery. holiday in transitioning annualized XX% range X,XXX from have the declined properties achieve remaining of is and the opportunity NOI EBITDARM operators. portfolio’s our basis by revenue incremental an anchored additional has XX% times X in over annualized contributed to mid to who significantly and million upside NHC levels. selling by Merrill We Gardens the XX% mid-teens, as the over the X.XX including is was other NOI of XX% X.XX as throughout our one The portfolio X SNF several cash upside times deferrals and X.XX which NHC annualized represents and nursing times, and next years, cash as that respectively. the stabilized at there Same-store is these currently declined range properties We’re to capture Group net view the low to coverage for Ensign revenue the recover. the million
labor been decisions our operators While of This been stressed issues. though made due have much some NHC pandemic, this delivered form financial at solid throughout have smaller primarily and to point. no Ensign assistance performances discussed the some in may have of other result
of development quarter, nearly we announced Turning we a at new with Activity our two fully $XXX.X over picked of over commitment We activities. $XX in to fund years. our partners million recently, of at and weighted XXXX. $XX fourth has believe business million up yield the will investments we million X% funded the within average investments during Montecito
loan seller’s Management a a $XX.X the The has strong our to known advantage and year. multiple But for the with relationship types. classes across We nine better Encore now which includes product worked This Living, as construction in certainly new formerly this is XX also asset has and announced active been Midwest. million. growing that investments pipeline remains past market, Senior it
XXXX. be in expect we program, we more pipeline active our As rebuilding the disposition conclude to
commitments million call hand to mentioned, back a weighted we yield of have With XXX with approximately the Eric. average over John that, X.X%. currently I’ll As of
