MURFREESBORO, Tenn.--(BUSINESS WIRE)--
National Health Investors, Inc. (NYSE:NHI) announced today it has closed
a $10.15 million purchase/leaseback transaction with affiliates of
Senior Living Management involving three assisted living facilities
totaling 108 beds in Florida. The transaction brings NHI’s total
investment volume to $141 million to date in 2010. The purchase price
was funded from NHI’s revolving credit facility.
The three facilities, which are ten years old and attract private
payment for services, are being leased to Senior Living Management for
15 years at an initial lease rate of $1,015,000 plus annual fixed
escalators. There are two five-year renewal options. Senior Living
Management operates 24 senior living facilities in Florida, Georgia and
Pennsylvania. The purchase of the three facilities expands NHI’s
relationship with Senior Living Management to a total of five facilities.
Justin Hutchens, NHI President and COO stated, “NHI is pleased to expand
our real estate portfolio with these high quality and stabilized
assisted living communities. Senior Living Management has operated the
communities successfully since their opening ten years ago, and they are
located in solid markets.”
National Health Investors, Inc. is a healthcare real estate investment
trust that specializes in the financing of healthcare real estate by
purchase and leaseback transactions and by mortgage loans. NHI’s
investments involve skilled nursing facilities, assisted living
facilities, independent living facilities, medical office buildings, an
acute psychiatric hospital, an acute care hospital and a transitional
rehabilitation center. The common stock of the company trades on the New
York Stock Exchange with the symbol NHI. Additional information about
NHI, including its 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.Investors
are urged to carefully review and consider the various disclosures made
by NHI in its periodic reports filed with the Securities and Exchange
Commission, including the risk factors and other information disclosed
in NHI’s Annual Report on Form 10-K for the most recently ended fiscal
year. Copies of these filings are available at no cost on the SEC's web
site at http://www.sec.gov
or on NHI’s web site at http://www.nhinvestors.com.
Source: National Health Investors, Inc.
Contact:
National Health Investors, Inc.
Roger R. Hopkins, Chief Accounting
Officer, 615-890-9100