NHI Announces $9M Purchase/Leaseback Transaction with Milestone Retirement Communities

National Health Investors

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