NHI to Purchase Texas Facility for $13.4 Million
National Health Investors, Inc. (NYSE: NHI) announced today it has exercised an option to purchase and lease a new, stabilized skilled nursing facility located in Texas for a purchase price of $13.4 million. The facility opened at the end of 2010 with 125 beds and is operated by affiliates of Legend Healthcare, LLC. The transaction is expected to close within the next thirty days and will be funded from available cash and from borrowings on NHI's revolving credit facility.
Justin Hutchens, NHI's CEO and President, noted, “This acquisition of a new high quality asset continues the growth and positive diversification of NHI's portfolio.”
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