MURFREESBORO, Tenn.--(BUSINESS WIRE)--
National Health Investors, Inc. (NYSE:NHI) announced today it has closed
a $15 million purchase of four assisted living and memory care
communities totaling 183 units in Louisiana and has leased those
communities to Selah SeniorCare III and managed by Selah Management
Group. The purchase price was funded from NHI’s revolving credit
facility.
The four facilities, which are on average 13 years old and attract
private payment for services, are being leased to Selah SeniorCare III
and managed by Selah Management Group for 15 years at an initial lease
rate of $1,275,000 plus annual fixed escalators. In addition to the
Louisiana facilities, Selah Management Group operates 11 assisted living
and memory care communities in Florida, Mississippi and Texas.
Justin Hutchens, NHI’s CEO and President stated, “The Selah management
team has experience operating high quality assisted living communities
for years, and has a strong track record. NHI is pleased to work with
them to expand their operations into Louisiana with such well-located
and stabilized communities.”
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
website 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
website at http://www.sec.gov
or on NHI’s website at http://www.nhinvestors.com.
Source: National Health Investors, Inc.
Contact:
National Health Investors, Inc.
Roger R. Hopkins, Chief Accounting
Officer, 615-890-9100