National Health Investors, Inc. (
, a healthcare real estate investment trust (REIT), recently
acquired a 181-unit senior living campus in Loma Linda, California
for $12 million. The transaction was funded with available cash and
borrowings on National Health's revolving credit facility.
The campus includes 98 independent living units and 83 skilled
nursing beds. The existing lessee, Chancellor Health Care, LLC,
will continue to manage the property for 15 years. The lease terms
provide renewal options with annual fixed escalators and a lease
rate of 9%.
With this deal, National Health has strengthened its relationship
with Chancellor Health Care, a premium operator with expertise in
senior living facilities and over 20 years of operating experience.
This deal further enables National Health to fortify its presence
in Southern California
Earlier in the second quarter of 2012, National Health entered into
a $320 million unsecured credit facility to fund new healthcare
real estate investments and pay down revolving borrowings.
Additionally, the company acquired a new 125-bed skilled nursing
facility in Texas for $13.5 million.
Based in Murfreesboro, Tennessee, National Health specializes in
financing healthcare real estate through purchase and leaseback
transactions and by mortgage loans. The company's investments
involve skilled nursing facilities, assisted living facilities,
independent living facilities, medical office buildings and
National Health currently retains a Zacks #3 Rank, which translates
into a short-term Hold rating. We have a long-term Neutral
recommendation on the stock. One of its competitors,
HCP, Inc (
also holds a Zacks #2 Rank, which translates into a short term Buy
HCP INC (HCP): Free Stock Analysis Report
NATL HEALTH INV (NHI): Free Stock Analysis
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