NHI to Acquire Eight Seniors Housing Communities for $476M

MURFREESBORO, TENN. — National Health Investors Inc. (NHI) has signed a purchase agreement to acquire eight communities known as the Seniors Living Communities Portfolio for $476 million. Following the acquisition closing, Senior Living Communities will lease the properties under a 15-year term. NHI will also provide a $15 million working capital line of credit to Senior Living Communities to finance construction/renovation projects at the eight properties. The eight facilities total 1,671 units and have an average occupancy of 85.4 percent. The properties include:
• Brightwater in Myrtle Beach, S.C.
• Lakes at Litchfield in Pawley’s Island, S.C.
• Cascades Verdae in Greenville, S.C.
• Summit Hills in Spartanburg, S.C.
• Homestead Hills in Winston-Salem, N.C.
• Ridgecrest in Mt. Airy, N.C.
• Marsh’s Edge in Saint Simons Island, Ga.
• Osprey Village in Amelia Island, Fla.