NHI Acquires Assisted Living Facility in Michigan for $13.5M

BRIGHTON, Mich. — National Health Investors Inc. (NYSE: NHI) has acquired Brighton Manor, a 73-unit assisted living/memory care facility in Brighton, approximately 45 miles northwest of Detroit.

NHI acquired the recently opened property for $13.5 million and immediately leased it to an affiliate of Comfort Care Senior Living. The seller was not disclosed.

The 10-year lease will have a lease rate of 7.75 percent plus annual escalators starting in year three. NHI funded the acquisition with its revolving credit facility.