The Florida Legislature recently lifted a 13-year moratorium on new nursing homes. This new development is driving a resurgence to the market as providers compete for a limited number of slots available for new facilities. Attorneys expect an increase in litigation and real estate deals.
Partner Jerome Hoffman said, “This is a sea change in terms of the market because beds have not been available for a long, long time. There's a lot of jockeying for individual beds because there's no guarantee the state won't decide to put a moratorium on new beds. The salad bar is open, and you're going to go grab as much as you can.”
Mr. Hoffman said there are few surplus beds now because of the moratorium, and demand will only continue to increase because of the state's aging population.
READ: Fla. Nursing Home Expansion To Spur Litigation Wave (subscription required)
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