MURFREESBORO, Tenn.--(BUSINESS WIRE)--
National Health Investors, Inc. (NYSE:NHI) announced today it has agreed
to provide funding of up to $20 million in a loan participation
agreement with an affiliate of Capital Funding Group (CFG), a national
leader in providing financing solutions for healthcare facilities.
CFG has provided more than $1.5 billion in HUD-insured mortgages
nationwide. NHI’s loan participation agreement is targeted for CFG’s
borrowers who desire bridge-to-HUD financing. NHI, which will have the
final approval on each commitment, has already funded $1 million of a
total loan from CFG of $6.1 million to a third-party borrower for the
purchase of a 125-bed skilled nursing facility built in 2006 in
Navasota, Texas. This bridge loan is for a period of one year.
Jack Dwyer, Chairman of CFG, stated, “We are extremely excited about our
relationship with NHI. The chance to partner with an industry leader
like NHI will be mutually beneficial to both organizations for years to
come.”
Justin Hutchens, NHI President and Chief Operating Officer, noted, “This
strategic partnership with CFG expands our loan sourcing capabilities
with one of the most recognized and respected institutions in the
industry. Their disciplined underwriting complements our conservative
philosophy, and the breadth of coverage nationwide should provide a
meaningful growth vehicle for our opportunistic mortgage loan program at
attractive, risk-adjusted returns.”
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