NHI Acquires 17 Assisted Living Communities for $135M

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