MURFREESBORO, Tenn.--(BUSINESS WIRE)--
National Health Investors, Inc. (NYSE:NHI) announced today the $25.2
million acquisition of a senior living campus in Silverdale, Washington,
funded from borrowings on NHI’s revolving credit facility. The 138-unit
community offers independent living, assisted living and rehabilitation
care. The transaction is anticipated to close this week upon final
licensing approval.
Sante’ Partners of Salem, Oregon, entered into a 15-year lease agreement
including two 10-year renewal options at a 7.8% lease rate plus annual
fixed escalators. Furthermore, NHI extended an additional $3.5 million
at a 8.3% lease rate to expand and renovate the community.
“This very attractive acquisition contributes to NHI’s goal of
diversifying our portfolio. We are delighted to expand our relationship
with Sante’ Partners,” says Justin Hutchens, NHI’s President and Chief
Executive Officer.
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, 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, 615-890-9100
Chief
Accounting Officer
Source: National Health Investors, Inc.