National Health Investors Inc has acquired Michigan-based Brighton Manor, an assisted living/memory care facility. The purchase price was $13.5 million. NHI will lease the facility to an affiliate of Comfort Care Senior Living.
PRESS RELEASE
MURFREESBORO, Tenn.–(BUSINESS WIRE)–National Health Investors, Inc. (NYSE: NHI) announced today that it has acquired a 73-unit assisted living/memory care facility for a total commitment of $13.5 million and will lease the facility to an affiliate of Comfort Care Senior Living. The recently opened facility, Brighton Manor, is located in the town of Brighton, Michigan. The 10-year lease will have a lease rate of 7.75% plus annual escalators starting in year 3. The acquisition was funded by NHI’s revolving credit facility.
Eric Mendelsohn, NHI President and CEO, stated, “This acquisition bolsters NHI’s presence in an area of the country with strong senior population growth and further expands our relationship with Comfort Care.”
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 investments. NHI’s portfolio consists of independent, assisted and memory care communities, entrance-fee retirement communities, skilled nursing facilities, medical office buildings and specialty hospitals. For more information, visit www.nhireit.com.
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