NHI Acquires Three Communities for $67M

by Jeff Shaw

MURFREESBORO, Tenn. — National Health Investors Inc. (NYSE: NHI) has purchased three seniors housing communities in North Carolina, Indiana and Tennessee for $67 million in a sale-leaseback transaction with affiliates of East Lake Capital Management.

The 413-unit portfolio is completely private-pay, 86 percent occupied and comprised of 205 independent living, 137 assisted living and 71 memory care units. The purchase was funded with borrowings on NHI’s revolving credit facility.

New Horizons Senior Living, an affiliate of East Lake Capital Management, currently operates all of the communities, the names of which were not disclosed. 

NHI is a real estate investment trust (REIT) based in Murfreesboro.

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