National Health Investors Acquires Wisconsin Assisted Living Facility for $20.2M
National Health Investors (NYSE: NHI) announced today a $20.2
million purchase of Charleston House, a 120-unit assisted living and
memory care facility in Beaver Dam, Wisconsin. Charleston House will be
leased to Landmark Senior Living Communities ("Landmark") for an initial
term of 15 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 is illustrative of NHI's commitment to growing our
private-pay assisted living portfolio through creating valuable
relationships with experienced operators," said Justin Hutchens, NHI's
President and CEO.
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