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NHI to buy North Carolina assisted living and memory care community


National Health Investors Inc has agreed to acquire Durham, North Carolina-based Spring Arbor ... About NHI Incorporated in 1991, National Health Investors, Inc. (NYSE: NHI) is a real estate investment trust specializing in sale-leaseback, joint-venture ...


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National Health Investors Inc has agreed to acquire Durham, North Carolina-based Spring Arbor, an assisted living and memory care communityThe purchase price is $7.55 million. Continue reading on PE HUB said: National Health Investors Inc has agreed to acquire Durham, North Carolina-based Spring Arbor, an assisted living and memory care communityThe purchase price is $7.55 million. PRESS RELEASE MURFREESBORO, Tenn.–(BUSINESS WIRE)–National Health Investors, Inc(NYSE: NHI) announced today it has exercised its purchase option to acquire Spring Arbor of Durham, a 32-unit assisted living and memory care community in Durham, North CarolinaThe community was part of a purchase option negotiation with NHI’s tenant Navion Senior Solutions (Navion), formerly Ravn Senior Solutions, when NHI purchased two communities in North Carolina in February 2017NHI’s investment will include the purchase price of $7,550,000 and up to $650,000 for a 4-unit expansion and capital improvements to the existing buildingThe community will be added to an existing master lease with nearly 14 years remaining at a blended yield of 7.15% with annual escalators and two 5-year renewal optionsNHI purchased the community with a draw on its revolving credit facility. NHI’s President and CEO, Eric Mendelsohn, stated, “The early execution of this purchase option is an example of our commitment to work with our operating partners to make sound investments and strengthen our business relationships.” About NHI Incorporated in 1991, National Health Investors, Inc(NYSE: NHI) is a real estate investment trust specializing in sale-leaseback, joint-venture, mortgage and mezzanine financing of need-driven and discretionary senior housing and medical investmentsNHI’s portfolio consists of independent, assisted and memory care communities, entrance-fee retirement communities, skilled nursing facilities, medical office buildings and specialty hospitalsFor more information, visit www.nhireit.com. About Navion Navion Senior Solutions is a family-owned business headed by a management team with a combined eighty-five years of senior living management experience and operates a multi-faceted business platform, including developing & operating senior housing communities throughout the Southeastern US, launching senior-focused technology businesses, & advising innovative new companies that improve the lives of seniorsFor more information, visit www.navionseniorsolutions.com.

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