MURFREESBORO, Tenn.--(BUSINESS WIRE)--
National
Health Investors, Inc. (NYSE:NHI) announced today a $9.2 million
loan to affiliates of Bickford Senior Living (“Bickford”) to fund a
portion of Bickford’s recent acquisition of six senior housing
communities totaling 342 units. The loan has a two-year maturity with
12% annual interest and was funded from NHI's revolving credit facility.
The NHI/Bickford joint venture has a $97 million purchase option on the
properties.
Bickford purchased six independent living, assisted living and memory
care communities that they currently manage in Illinois, Iowa, Nebraska
and Missouri. Overall occupancy is 89%, with average monthly revenue
over $4,900 per unit.
"This investment advances our partnership with Bickford which also
includes 27 stabilized assisted living communities and three under
construction," said Justin Hutchens, NHI's CEO and President.
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 assisted living, senior living
campuses, independent living, skilled nursing facilities, medical office
buildings, and hospitals. Find additional information about NHI at www.nhireit.com.
About Bickford Senior Living
Bickford Senior Living, founded in 1991, is headquartered in Olathe,
Kansas and operates 50 assisted living, memory care and independent
living facilities in Kansas, Iowa, Illinois, Indiana, Missouri, Georgia,
Nebraska and Michigan and has experience in constructing over 150 of
these types of facilities for various owners.
Safe Harbor Statement
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.