REITs M&A » By The Online Investor Staff, updated Thu., Apr. 18, 5:15 AM
Recent mergers and acquisitions in the REITs M&A category.
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Slide #33. National Health Investors, Inc. — 17 Assisted Living Communities
Acquirer:
National Health Investors, Inc. (NYSE:NHI)
Acquiree:
17 Assisted Living Communities
Details:
National Health Investors, Inc. (NYSE:NHI) announced today that its RIDEA joint-venture with Bickford Senior Living ("Bickford") has acquired 17 assisted living and memory care communities for a total purchase price of $135 million. NHI owns 85% of the joint-venture and Bickford owns 15%. The acquisition brings the total number of properties in the joint-venture to 30, of which 3 are under construction. Wells Fargo Securities, LLC served as financial advisor to NHI on this transaction.
National Health Investors is a real estate investment trust focusing on sale-leaseback, joint-venture, mortgage and mezzanine financing of senior housing and medical facility investments. Co.'s portfolio consists of real estate investments in independent living facilities (ILFs), which provide designed residential units for active senior adults and provide various ancillary services for their residents; assisted living facilities (ALFs), which provide basic room and board functions for elderly residents; entrance-fee communities, which include a combination of detached cottages, an ILF, an ALF and a skilled nursing facility (SNF) on one campus; senior living campuses; SNFs; and a hospital.
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Buy (3.00 out of 4) 100th percentile
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