MURFREESBORO, Tenn.--(BUSINESS WIRE)--
National Health Investors, Inc. (NYSE:NHI) announced today a $9 million
purchase and leaseback transaction with Milestone Retirement
Communities, LLC ("Milestone"). The 101-unit acquisition includes two
assisted living facilities in Ontario, Oregon and one in Weiser, Idaho.
Milestone will lease and continue to operate the facilities for an
initial term of 10 years with renewal options at a lease rate of 7.75%
plus annual fixed escalators. The purchase was funded from borrowings on
NHI’s revolving credit facility.
“This acquisition continues the growth of our assisted living portfolio
with an experienced operator,” said Justin Hutchens, NHI’s President and
CEO.
About Milestone
Headquartered in Vancouver, Washington, Milestone operates 16 assisted
living facilities totaling 1,324 units in Washington, Oregon, Idaho,
Arizona, California, Nevada, Colorado, Oklahoma and Virginia.
About National Health Investors
National Health Investors, Inc. (NYSE: NHI) is a healthcare real estate
investment trust specializing in financing healthcare real estate by
purchase and leaseback transactions, RIDEA transactions and by mortgage
loans. NHI’s investments include independent living, assisted living,
senior living campuses, skilled nursing facilities, medical office
buildings, and hospitals. Find additional information about NHI 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.