National Health Investors, Inc. ("NHI") (NYSE:NHI) announced today a $15.3 million acquisition of The Inn at Halcyon Village in Marysville, Ohio. The 76-unit assisted living and memory care community was built in 2009 and will be leased to Emeritus Senior Living ("Emeritus") (NYSE: ESC) for an initial 15-year term with an option to extend. Rent in the first year of the lease will amount to $1.15 million with three percent annual fixed escalators beginning in the third year. The purchase was funded from borrowings on NHI's revolving credit facility.
“We are pleased to expand our relationship with Emeritus Senior Living, the nation's largest assisted living operator, with the addition of this very high-quality and stabilized assisted living community.”
This will be the ninth NHI community leased to Emeritus. Justin Hutchens, NHI's CEO and President, said, "We are pleased to expand our relationship with Emeritus Senior Living, the nation's largest assisted living operator, with the addition of this very high-quality and stabilized assisted living community."