The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

News Sources

Take control of your investments with the latest investing news and analysis

Press release from Business Wire

NHI Expands Emeritus Relationship with Acquisition of Assisted Living Community for $15.3 Million

Monday, July 01, 2013

NHI Expands Emeritus Relationship with Acquisition of Assisted Living Community for $15.3 Million

06:05 EDT Monday, July 01, 2013

MURFREESBORO, Tenn. (Business Wire) -- National Health Investors, Inc. (“NHI”) (NYSE:NHI) announced today a $15.3 million acquisition of The Inn at Halcyon Village in Marysville, Ohio. The 76-unit assisted living and memory care community was built in 2009 and will be leased to Emeritus Senior Living ("Emeritus") (NYSE: ESC) for an initial 15-year term with an option to extend. Rent in the first year of the lease will amount to $1.15 million with three percent annual fixed escalators beginning in the third year. The purchase was funded from borrowings on NHI's revolving credit facility.

This will be the ninth NHI community leased to Emeritus. Justin Hutchens, NHI's CEO and President, said, "We are pleased to expand our relationship with Emeritus Senior Living, the nation's largest assisted living operator, with the addition of this very high-quality and stabilized assisted living community."

About National Health Investors

National Health Investors, Inc. (NYSE: NHI) is a healthcare real estate investment trust specializing in financing healthcare real estate by purchase and leaseback transactions, RIDEA transactions and by mortgage loans. NHI's investments include assisted living, senior living campuses, independent living, skilled nursing facilities, medical office buildings, and hospitals. Find additional information about NHI at www.nhireit.com.

About Emeritus Senior Living

Emeritus Senior Living is the nation's largest assisted living and memory care provider, with the ability to serve nearly 50,000 residents. Over 30,000 employees support nearly 480 communities throughout 45 states coast to coast. Emeritus offers the spectrum of senior residential choices, care options and life enrichment programs that fulfill individual needs and promote purposeful living throughout the aging process. Its experts provide insights on senior living, care, wellness, brain health, caregiving and family topics at www.Emeritus.com, which also offers details on the organization's services. Emeritus' common stock is traded on the New York Stock Exchange under the symbol ESC.

Statements in this press release that are not historical facts are forward-looking statements. NHI cautions investors that any forward-looking statements may involve risks and uncertainties and are not guarantees of future performance. All forward-looking statements represent NHI's judgment as of the date of this release. Investors are urged to carefully review and consider the various disclosures made by NHI in its periodic reports filed with the Securities and Exchange Commission, including the risk factors and other information disclosed in NHI's Annual Report on Form 10-K for the most recently ended fiscal year. Copies of these filings are available at no cost on the SEC's web site at http://www.sec.gov or on NHI's web site at http://www.nhireit.com .

National Health Investors, Inc.
Roger R. Hopkins, Chief Accounting Officer, 615-890-9100

Products
  • Globe Unlimited

    Digital all access pass across devices. subscribe

  • The Globe and Mail Newspaper

    Newspaper delivered to your doorstep. subscribe

  • Globe2Go

    The digital replica of our newspaper. subscribe

  • Globe eBooks

    A collection of articles by the Globe. subscribe

See all Globe Products

Advertise with us

GlobeLink.ca

Your number one partner for reaching Canada's Influential Achievers. learn more

Digital Business Solutions
Our Company
Customer Service
Globe Recognition
Mobile Apps
NEWS APP
INVESTING APP
Other Sections