Healthcare real estate investment trust National Health Investors, Inc. (NYSE:NHI) announced on Tuesday it has exercised an option to purchase and lease a new, stabilized skilled nursing facility located in Texas for a purchase price of $13.4 million.
The facility opened at the end of 2010 with 125 beds and is operated by affiliates of Legend Healthcare, LLC. The transaction is expected to close within the next 30 days and will be funded from available cash and from borrowings on NHI’s revolving credit facility.
“This acquisition of a new high quality asset continues the growth and positive diversification of NHI’s portfolio,” said Justin Hutchens, NHI’s president and CEO.
The REIT reported net income of $18.4 million for the first quarter ended March 31, 2012, down nearly 4% from the previous year. Diluted net income per common share fell to $0.66 from $0.69 in 2011’s first quarter.
Written by Alyssa Gerace