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Stock impact report

NHI Purchases Vero Beach Senior Living Facility For $38 Million

National Health Investors, Inc. (NHI) 
Last national health investors, inc. earnings: 2/19 06:00 am Check Earnings Report
US:NYSE Investor Relations: nhireit.com
Company Research Source: Business Wire
-Completes Lease Restructure with Holiday Retirement- MURFREESBORO, Tenn.--(BUSINESS WIRE)-- National Health Investors (NYSE:NHI) announced today the purchase of the Isles of Vero Beach, a senior living community in Florida owned by an affiliate of Holiday Retirement (“Holiday”). The community consists of 157 independent living units and 75 assisted living units. The community was acquired for $38 million and will be leased back to an affiliate of Holiday for $2.6 million annually and added to the amended master lease with Holiday announced on November 6, 2018. The annual lease escalator beginning November 1, 2020 is variable between 2% and 3% of current rent based on annual revenue growth in the Holiday portfolio consisting of 26 senior living communities. The purchase by NHI was accomplished as part of the restructuring and extension of the Holiday amended master lease announced on November 6, Show less Read more
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