Transactions: National Health Investors announces $26.3 million senior living acquisition

MURFREESBORO, Tenn. –National Health Investors Inc. (NYSE: NHI) has announced that it plans to acquire a total of 254 skilled nursing beds in two Texas facilities for $26.3 million.

The facilities, both less than two years old, are in Corinth and Canton, which are about 40 and 60 miles, respectively, from Dallas.

Indirect affiliates of the Sparks, Md.-based senior living operator Fundamental Long Term Care Holdings LLC committed to a 10-year initial lease term plus annual fixed escalators, according to NHI. The purchase was funded from borrowings on the publicly trade healthcare REIT’s revolving credit facility.

“These two newly-constructed, strong-performing assets are a great fit for NHI’s diversified portfolio,” CEO and President Justin Hutchens said in a news release.

The company’s investments include independent living, assisted living, senior living campuses, skilled nursing facilities, medical office buildings and hospitals.

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