Featured Company News – REIT National Health Investors Acquires a 60 – Unit Assisted Living Facility in Lansing, Michigan

Research Desk Line-up: Care Capital Properties Post Earnings Coverage

LONDON, UK / ACCESSWIRE / June 7, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for National Health Investors, Inc. (NYSE: NHI). The Murfreesboro, Tennessee based Company announced on June 05, 2017, the acquisition of a 60-unit assisted living and memory care facility in Lansing, Michigan. For immediate access to our complimentary reports, including today’s coverage, register for free now at:

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About the acquisition

NHI has invested approximately $10.4 million initially and has given a further commitment for an additional amount of $475,000. The additional amount would be used towards making renovations and capital improvements at the facility, which was built in 2001. These amounts would be fully funded in the first lease year. NHI plans to finance the acquisition through its existing revolving credit facility

NHI plans to lease out the facility to Bickford Senior Living, who is an existing tenant of NHI. The lease will be for a period of 14 years with the option for further renewals. The annual lease would be at an annual lease rate of 7.25% plus annual escalators. Bickford would be undertaking all the renovations at this facility. NHI has many leasing agreements with Bickford and with this acquisition and both have agreements for a total of 43 leased properties.

Commenting on the acquisition and leasing out the property to Bickford, Eric Mendelsohn, CEO and President of NHI said:

“Bickford Senior Living has significant experience operating assisted living facilities in Michigan and is one of our key partners. This acquisition not only illustrates our commitment to expanding our portfolio with high-quality properties with growth potential, but also to strengthening our relationships with our existing, successfully-performing operators.”

About Bickford Senior Living

Olathe, Kansas based Bickford Senior Living manages and operates 55 Independent Living, Assisted Living and Memory Care branches in Kansas, Iowa, Illinois, Indiana, Missouri, Nebraska, Michigan, Ohio, and Virginia. They provide quality senior care in a homelike environment. Its services include independent living, assisted living, memory care, Companion care, retreat stay, day stay, senior care options, and financial options. The Company was founded in 1991 and the first Bickford facility was opened in 1992.

About NHI

NHI is a REIT that specializes in sale-leaseback, joint-venture, mortgage, and mezzanine financing of need-driven and discretionary senior housing and medical investments. Its real estate portfolio includes independent, assisted and memory care communities, entrance-fee communities, skilled nursing facilities, medical office buildings and specialty hospitals.

In May 2017, NHI had announced its Q1 2017 results. The Company completed real estate transactions including acquisitions and loans valued at approximately $133 million in the said quarter. The diluted EPS for Q1 2017 was $1.10 which was 29.3% higher than the diluted EPS for Q1 2016.

Last Close Stock Review

On Tuesday, June 06, 2017, the stock closed the trading session at $76.05, marginally declining 0.69% from its previous closing price of $76.58. A total volume of 111.38 thousand shares have exchanged hands. National Health Investors’ stock price advanced 5.16% in the last three months, 7.95% in the past six months, and 8.58% in the previous twelve months. Moreover, the stock gained 2.53% since the start of the year. The stock is trading at a PE ratio of 18.45 and has a dividend yield of 5.00%. At Tuesday’s closing price, the stock’s net capitalization stands at $3.01 billion.

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