Deal Snapshot
NATIONAL HEALTH INVESTORS CLOSES USD 10M MORTGAGE FOR ACQUISITION OF NEW HAMPSHIRE MEMORY CARE COMMUNITY
Friday 11 August 2017

US-based REIT National Health Investors, Inc. (NYSE: NHI) has financed the acquisition of a 40-unit memory care community with Evolve Senior Living, a new partner with NHI, the company said. The facility was built in 2013 and is located in Rye, New Hampshire.
NHI's total investment was USD 10m and is secured with a first mortgage with an initial term of five years with renewal options and an interest rate of 8%. The acquisition was funded with a draw on NHI's revolving credit facility. NHI has a purchase option after 24 months and once certain performance goals are achieved. National Health Investors 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.


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Details
Date Published: 11/08/2017
Target: 40-unit memory care community
Country: USA
Deal Size: 10m (USD)
Sector: Construction/Real Estate
Type: JV
Financing: Cash
Status: Closed
Vendor:
Buyer: National Health Investors, Evolve Senior Living
Comment:


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