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COLUMBIA, S.C. — National Health Investors Inc. (NYSE: NHI) has provided $32.7 million in financing for the purchase and renovation of a 248-unit continuing care retirement community in Columbia.
The borrower is an affiliate of Senior Living Communities (SLC). The loan will have a five-year maturity with two one-year extension options at an interest rate of 7.25 percent. NHI will have a purchase option on the property during the term of the loan and for up to six months after its maturity.
NHI funded the loan via a draw on its revolving credit facility. With this addition, NHI has eleven communities under a long-term lease or mortgage loan with SLC.