NATIONAL HEALTH INVESTORS, INC. (NHI) Files An 8-K Completion of Acquisition or Disposition of AssetsItem 2.01 Completion of Acquisition or Disposition of Assets
On November 8, 2016, National Health Investors (“NHI”) completed the acquisition of an entrance-fee continuing care retirement community (“CCRC”), in North Branford, Connecticut, previously announced in a press release issued by the company on November 3, 2016. The community is leased to NHI’s current tenant, Senior Living Communities (“SLC”), headquartered in Charlotte, North Carolina. NHI’s total investment, including acquisition of the facility and other costs, is $74 million, and the lease term is 13 years at a lease rate of 6.77% with a 4% annual escalator on January 1, 2017 and 2018 and a 3% annual escalator thereafter. The investment was funded with a draw on NHI’s revolving credit facility.
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