This special section of National Real Estate Investor features the American Seniors Housing Association's (ASHA's) third annual compilation of the nation's

* 25 largest seniors housing owners and

* 25 largest seniors housing managers.

To ensure the ASHA 25 for 1996 is as complete and accurate as possible, ASHA officials gathered names of prospective ranked companies from every available source. A senior officer from each firm was contacted for the information included in the rankings, which are current as of July 1, 1996.

For purposes of this survey, seniors housing units include congregate living units and assisted living units, as well as skilled nursing beds which are part of a larger retirement living complex (such as a continuing care retirement community), and include rental, entrance fee, condominium, and cooperative units designed and operated exclusively for adults aged 55 years and over. Units where residents receive Section 8 or equivalent rental subsidies, units that are part of an active adult retirement community, single-family homes, hotel rooms, stand-alone skilled nursing beds, or mobile home units and pads are not included.

In addition to the ASHA 25 and an analysis of its results, this section includes selected corporate profiles, plus a list of our leadership and members, whose commitment and vitality are so crucial to ASHA's strength. Based in Washington, D.C., ASHA represents the interests of the larger and most prominent firms in the United States' seniors housing industry. ASHA's members are engaged in all aspects of the development and operation of seniors housing, including the ownership, construction, finance, and management of such properties.

For readers interested in joining the seniors housing industry's leadership by participating in ASHA, we welcome inquiries which should be directed to David S. Schless, Executive Director of ASHA, at 202/659-3381.