NHI Purchases New SNF in Texas for $14.4 Million
MURFREESBORO, TN–National Health Investors, Inc. (NYSE: NHI) announced that it has acquired a 121-bed skilled nursing facility in Waxahachie, TX, for $14,400,000 and will lease the facility to an affiliate of The Ensign Group, Inc. (“Ensign”).
The acquisition is the second of four that NHI had previously committed to and will be added to the existing lease at an initial rate of 8.2% plus annual lease escalators based on inflation. The facility, which opened in November 2016, joins the current Ensign assets comprised of 16 skilled nursing facilities located in Texas. The acquisition was funded by NHI’s revolving credit facility.
“This acquisition is an excellent example of how NHI facilitates the growth of its operating partners,” said Eric Mendelsohn, CEO and president of NHI.