National Health Investors, Inc. (NYSE:NHI) recently acquired a Wisconsin senior living community for $20.2 million.
Charleston House is a 120-unit assisted living and memory care property in Beaver Dam, Wisc. that will be leased to Landmark Senior Living Communities for an initial term of 15 years with renewal options at a lease rate of 7.75% plus annual fixed escalators.
NHI funded the purchase with borrowings on its revolving credit facility.
“This acquisition is illustrative of NHI’s commitment to growing our private-pay assisted living portfolio through creating valuable relationships with experienced operators,” said Justin Hutchens, NHI’s President and CEO.
On Friday, NHI announced it had sold a 148-bed senior living community in Edison, N.J. to current tenant Sunrise Senior Living (NYSE:SRZ) for $23 million, pursuant to a purchase option between the parties.
Written by Alyssa Gerace