NHI buys Texas nursing facility for $14.4 mln

National Health Investors has acquired a 121-bed skilled nursing facility in Waxahachie, Texas for $14.4 million. NHI is planning on leasing the facility to an affiliate of The Ensign Group Inc.

PRESS RELEASE

MURFREESBORO, Tenn.–(BUSINESS WIRE)–National Health Investors, Inc. (NYSE: NHI) announced that it has acquired a 121-bed skilled nursing facility in Waxahachie, Texas for $14,400,000 and will lease the facility to an affiliate of The Ensign Group, Inc. (“Ensign”). The acquisition is the second of four that NHI had previously committed to and will be added to the existing lease at an initial rate of 8.2% plus annual lease escalators based on inflation. The facility, which opened in November 2016, joins the current Ensign assets comprised of 16 skilled nursing facilities located in Texas. The acquisition was funded by NHI’s revolving credit facility.

Eric Mendelsohn, CEO and President of NHI, stated, “This acquisition is an excellent example of how NHI facilitates the growth of its operating partners.”

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.

About Ensign™
The Ensign Group, Inc.’s independent operating subsidiaries provide a broad spectrum of skilled nursing and assisted living services, physical, occupational and speech therapies, home health and hospice services, urgent care services and other rehabilitative and healthcare services at 230 facilities, twenty-two hospice agencies, twenty home health agencies and four home care businesses in California, Arizona, Texas, Washington, Utah, Idaho, Colorado, Nevada, Iowa, Nebraska, Oregon, Wisconsin, Kansas, South Carolina and Oklahoma. More information about Ensign is available at http://www.ensigngroup.net.