National Health Investors, Inc. (NYSE:NHI) announced today a $20.2 million purchase of Charleston House, a 120-unit assisted living and memory care facility in Beaver Dam, Wisconsin. Charleston House will be leased to Landmark Senior Living Communities ("Landmark") for an initial term of 15 years with renewal options, at a lease rate of 7.75% plus annual fixed escalators. The purchase was funded from borrowings on NHI's revolving credit facility.
“This acquisition is illustrative of NHI's commitment to growing our private-pay assisted living portfolio through creating valuable relationships with experienced operators”
"This acquisition is illustrative of NHI's commitment to growing our private-pay assisted living portfolio through creating valuable relationships with experienced operators," said Justin Hutchens, NHI's President and CEO.