NHI Invests $9.34 Million for an Assisted Living & Memory Care Community in Minnesota and Further Expands Relationship with 41 Management
National Health Investors, Inc. (NHI)
Last national health investors, inc. earnings: 2/19 06:00 am
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Source: Business Wire
MURFREESBORO, Tenn.--(BUSINESS WIRE)--National Health Investors, Inc. (NYSE:NHI) announced today that it has purchased Coventry of Mahtomedi, a 48-unit assisted living and memory care community in Mahtomedi, MN. The community was purchased for $9.34 million, including closing costs of approximately $134,000, at an initial yield of 7.23% and was added to the existing master lease with 41 Management, LLC, a growing Midwest operator owned by Thomas Ostrom.The 41 Management, LLC master lease covers five communities in Minnesota including four properties that NHI transitioned from Bickford on October 1, 2019. The master lease is for 15 years, includes two 5-year renewal options, and has fixed annual escalators at 2.5%.NHI also announced today that it is providing a $3.87 million mortgage loan to refinance debt on The Courtyard of Bellevue, a 43-unit assisted living and memory care community in Bellevue, WI that opened in March 2019 and is managed by 41 Management. The term of the loan
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- NHI Announces First Quarter 2024 Earnings Release and Conference Call DateAccesswire
NHI
Earnings
- 2/20/24 - Beat
NHI
Sec Filings
- 4/18/24 - Form PX14A6G
- 4/4/24 - Form ARS
- 4/4/24 - Form DEFA14A
- NHI's page on the SEC website