Senior Housing REIT Drops $62M On Memory-Care Facilities

Law360, New York (March 20, 2017, 5:05 PM EDT) -- National Health Investors Inc., a real estate investment trust focused on senior-housing and medical investments, said Monday that it has purchased five memory-care facilities in Texas and Illinois for $61.8 million and plans to lease them back to The LaSalle Group Inc.

The Autumn Leaves-branded facilities include 223 units total and will be let to LaSalle through a 15-year lease with three renewal options, according to a statement from NHI unveiling the deal. NHI said it financed the purchase through a draw on its revolving credit...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.