MURFREESBORO, Tenn.--(BUSINESS WIRE)--
National Health Investors, Inc. (NYSE:NHI) announced today the $12
million acquisition of a 181-unit senior living campus in Loma Linda,
California funded from available cash and from borrowings on NHI’s
revolving credit facility. The Linda Valley campus is comprised of 98
independent living units and 83 skilled nursing beds.
Chancellor Health Care, LLC, will lease and continue to operate the
campus for an initial term of 15 years plus renewal options at a lease
rate of 9% plus annual fixed escalators. “Chancellor Health Care has
over 20 years of senior living operating experience. We are pleased to
establish our business relationship,” said Justin Hutchens, NHI’s
President and CEO. “Acquiring this campus provides a foothold in
Southern California.”
About National Health Investors
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, senior living campuses,
medical office buildings, and hospitals. 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.nhireit.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.nhireit.com
National Health Investors, Inc.
Roger R. Hopkins, Chief Accounting
Officer, 615-890-9100
Source: National Health Investors, Inc.