NHI Purchases Five Memory Care Communities Totaling 223-Units in Texas and Illinois for $61.8 Million | Apartment Loan Depot Since 2005 – Fannie Mae and Freddie Mac Multifamily Loans Nationwide

MURFREESBORO, TN – National Health Investors announced it has bought five memory care facilities, totaling 223 units, located in Texas and Illinois for $61.8 million and will lease back the facilities to a new NHI tenant, The LaSalle Group.

The lease term is 15 years plus three renewal option periods and has an initial cash yield of 7% with annual fixed escalators. The acquisition was funded by a draw on NHI’s revolving credit facility.

The LaSalle Group is a private, Dallas, Texas based, family-owned business that was founded in 1990 and started focusing on senior care in 2000. The facilities bought are Autumn Leaves communities, part of The LaSalle Group’s standalone memory care design.

Eric Mendelsohn, CEO and President of NHI, stated, “NHI is pleased to be entering into a relationship with The LaSalle Group, a growth-oriented operator with long term focus. Their management team has brilliant experience with over 16 years of developing and operating memory care communities. The addition of these facilities will further strengthen NHI’s portfolio.”

National Health Investors is a real estate investment trust specializing in sale-leaseback, joint-venture, mortgage and mezzanine financing of need-driven and discretionary senior housing and medical investments. NHI’s portfolio consists of independent, helped and memory care communities, entrance-fee retirement communities, skilled nursing facilities, medical office buildings and specialty hospitals.