MURFREESBORO, Tenn.--(BUSINESS WIRE)--
National Health Investors, Inc. (NYSE:NHI) has completed the previously
announced purchase/leaseback of a fourth Texas skilled nursing facility
owned by an affiliate of Legend Healthcare, LLC, a privately-owned
company ("Legend"). NHI purchased three facilities from Legend on June
30, 2009 for $39.7 million. The fourth facility was purchased on July
31, 2009 for $15.8 million. The purchases were funded from NHI's
accumulated cash liquidity. The four facilities are being leased to
Legend for 15 years at an initial lease rate of 10% plus annual
increases. Legend has the option after 7 years to purchase the
facilities at fair market value, but not less than $55.5 million.
National Health Investors, Inc. is a health care real estate investment
trust that specializes in the financing of healthcare real estate by
first mortgage and by purchase and leaseback transactions. The common
stock of the company trades on the New York Stock Exchange with the
symbol NHI. Additional information including NHI's most recent press
releases may be obtained on NHI's web site at www.nhinvestors.com.
Statements in this press release that are not historical facts are
forward-looking statements. NHI cautions investors that any
forward-looking statements may involve risks and uncertainties and are
not guarantees of future performance. All forward-looking statements
represent NHI's judgment as of the date of this release.
Source: National Health Investors, Inc.
Contact: National Health Investors, Inc.
Roger R. Hopkins, Chief Accounting Officer, 615-890-9100