NHI Acquires 102-Unit Assisted Living Community in Portland for $26.2M
PORTLAND, ORE. — National Health Investors Inc. (NYSE: NHI) has acquired a 102-unit assisted living and memory care community in Portland for $26.2 million.
The seller was Prestige Senior Living, which will continue to operate the property. The name of the community was not disclosed.
The facility was added to the existing Prestige master lease with NHI that includes three skilled nursing facilities and one assisted living facility. The lease has a remaining term of 12 years. NHI funded the acquisition using its revolving credit facility.
Based in Tennessee, NHI is a publicly traded REIT focused on sale-leaseback, joint-venture, mortgage and mezzanine financing of seniors housing and medical investments.