NHI Announces $9M Purchase/Leaseback Transaction with Milestone Retirement Communities
National Health Investors (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