RIDEA joint-venture with Bickford acquires $135M for 17 assisted living, memory care communities

Published on July 1, 2013 at 8:15 AM · No Comments

The Company currently forecasts Normalized FFO for 2013 from $3.48 to $3.54 per diluted common share. The Company's guidance range for the full year 2013 for Normalized FFO per share, with underlying assumptions and timing of certain transactions, is set forth and reconciled below. The Company expects to report its results for the second quarter during the week of August 5, 2013.

The Company's guidance range reflects the existence of volatile economic conditions, but does not assume any material deterioration in tenant credit quality and/or performance of its portfolio. The guidance is based on a number of assumptions, many of which are outside the Company's control and all of which are subject to change. The low end of our guidance range assumes a baseline from the first quarter of 2013, the recently announced transactions, the timing for further terming out of debt on our revolving credit facility and assuming 3% growth from our Bickford joint venture. On the top end of that range, we are adding in assumptions for investment activity and a 6% growth from our Bickford joint venture. The Company expects to make new investments in health care real estate during the remainder of 2013 that meet its underwriting criteria and where the spreads over its cost of capital generate sufficient returns to its shareholders. These new investments are expected to be funded by the Company's liquid investments and by short-term and long-term debt financing. The Company's guidance may change if actual results vary from these assumptions.

Source: National Health Investors, Inc.

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