National Health Investors added another Texas skilled nursing facility to its portfolio with the purchase of a 121-bed facility in Waxahachie for $14.4 million, or about $119,000 per bed. The acquisition is the second of four that NHI had previously committed to and will be added to the existing master lease with The Ensign Group at an initial rate of 8.2%, plus annual escalators based on inflation.
This brings Ensign’s Texas total to 16 skilled nursing facilities. Explaining the high per-bed price is the facility’s age, having just opened in November 2016. NHI funded the deal with proceeds from its revolving credit facility.