MURFREESBORO, Tenn. — National Health Investors Inc. (NYSE: NHI) has acquired five memory care facilities totaling 223 units in Texas and Illinois for $61.8 million.
NHI will lease the properties back to the seller, The LaSalle Group, on a 15-year term with three renewal option periods. This is the first partnership between NHI and LaSalle.
NHI funded the acquisition using its revolving credit facility. The specific names and locations of the facilities were not disclosed.
Based in Dallas, The LaSalle Group develops, owns and operates seniors housing communities, including the Autumn Leaves brand of memory care properties.
NHI is a publicly traded REIT based in Murfreesboro.