MURFREESBORO, Tenn.--(BUSINESS WIRE)--
National Health Investors, Inc. (NYSE:NHI) announced today it has closed
a $11.5 million purchase/leaseback transaction with Bickford Senior
Living and its affiliates (“Bickford”) involving two assisted living
facilities in Iowa and one in Indiana. The assisted living communities,
two of which were built in 1998 and one in 2005, total 102 units and
attract 100% private payment for services. The purchase price was funded
from NHI’s revolving credit facility. The three facilities are being
leased to Bickford over 15 years at an initial lease amount of
$1,035,000 plus annual fixed escalators. The purchase of the three
facilities brings the master lease with Bickford to a total of eight
facilities.
Justin Hutchens, NHI President and COO, stated, “NHI is excited to add
three more high-quality assisted living facilities to our portfolio
while expanding our relationship with Bickford Senior Living."
Bickford Senior Living, headquartered in Olathe, Kansas, operates over
40 assisted living, independent living and memory care facilities in
Kansas, Iowa, Illinois, Indiana, Missouri, Nebraska and Michigan.
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 and an acute care hospital. 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