In the middle of restructuring and extending its master lease with Holiday Retirement, National Health Investors also was able to acquire a senior living community in Vero Beach, Florida. Consisting of 157 independent living and 75 assisted living units, the community was leased back to Holiday for approximately $2.6 million in rent annually. It falls […]
National Health Investors picked up a senior care campus outside of Boston, Massachusetts for a purchase price over $50 million. The REIT also immediately leased it back to the previous operator, Wingate Healthcare, for a 10-year term with three 5-year renewal options and an initial annual lease rate of 7.5% plus annual fixed escalators. Located […]
The Phoenix, Arizona market has been a hotbed of senior living construction activity thanks to its rapidly growing retiree population, and a large CCRC catering to high-income residents is looking to capture part of that growth with an independent living expansion. Sagewood already has 316 independent living units, 44 assisted living units, 28 memory care […]
It looks like National Health Investors may be in the buying mood again, as the REIT just entered into a $300 million bank term loan with a five-year maturity from a syndicate of banks. Proceeds from the new loan were used to reduce the outstanding balance on NHI’s $550 million revolving credit facility and to […]
National Health Investors entered into a new relationship in Michigan, after acquiring a pair of assisted living communities from, and leasing them back to, affiliates of Comfort Care Senior Living. The targets were built in the last five years around Saginaw, Michigan, and include a 51-unit assisted living/memory care community in Bridgeport and a 53-unit […]
National Health Investors purchased from LTC Properties a portfolio of four assisted living communities and an AL/memory care community in Pennsylvania and Ohio for $67.5 million, or $210,900 per unit. Known as the Sunrise Portfolio, these communities will now be operated by Bickford Senior Living at an initial rate of 6.85% with annual fixed escalators […]
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 […]
Executing on a purchase option, National Health Investors acquired a 32-unit assisted living/memory care community in Durham, North Carolina, for $7.6 million, or $237,500 per unit. The impetus for the deal goes back to February 2017, when NHI purchased two adjacent AL/MC communities in Hendersonville, NC (about 20 miles south of Asheville) and entered into […]
National Health Investors announced a one-off acquisition of a 200-unit independent/assisted living community in Tulsa, Oklahoma, paying $34.6 million, or $173,000 per unit. Originally built in 1987 by a local real estate developer, the community was previously owned and operated by Triad Senior Living, which manages over 1,000 senior living units across Oklahoma, Illinois and […]
A 40-unit (56-bed) memory care community on the coast of New Hampshire that recently went through a Chapter 11 bankruptcy restructuring just sold to Port Development, a private investor group, for $11 million, or $275,000 per unit. Sanctuary Care had developed the Rye community in 2013 for approximately $13 million, or $325,000 per unit. But, […]