NHI Announces $35.1 Million Acquisition Of Tulsa, OK Independent Living And Assisted Living Community
MURFREESBORO, TN–National Health Investors, Inc. (NYSE:NHI) announced today that it has acquired The Country Club of Woodland Hills, a 200-unit independent living and assisted living community in Tulsa, Oklahoma. NHI’s investment is $35.1 million, including $500,000 for capital improvements expected to be fully funded by the end of 2019. The facility will be leased to NHI’s current tenant, Discovery Senior Living, for a term of 15 years, with renewal options, at an initial lease rate of 7.0% plus annual fixed escalators. The acquisition was funded with a draw on NHI’s revolving credit facility.
Eric Mendelsohn, NHI President and CEO, stated, “This is an opportunity to acquire a high-performing seniors housing community and expand our current relationship with Discovery Senior Living, an operating partner with a very experienced management team. This is a great addition to NHI’s exceptional seniors housing portfolio.”