National Health Investors NHI announced today that its
RIDEA joint-venture with Bickford Senior Living (“Bickford”) has
acquired 17 assisted living and memory care communities for a total
purchase price of $135 million. NHI owns 85% of the joint-venture and
Bickford owns 15%. The acquisition brings the total number of properties
in the joint-venture to 30, of which 3 are under construction. Wells
Fargo Securities, LLC served as financial advisor to NHI on this
transaction.
The 17 assisted living and memory care communities are comprised of 14
communities purchased from a subsidiary of Care Investment Trust, Inc.
CVTR for approximately $123 million, and 3 communities purchased
from affiliates of Bickford for approximately $12 million.
See full press release
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