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NHI declares acquisition of new SNF in Texas for USD14.4m.

M2 EQUITYBITES-January 18, 2018-NHI declares acquisition of new SNF in Texas for USD14.4m

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National Health Investors Inc (NYSE:NHI) revealed on Wednesday the acquisition of a skilled nursing facility (SNF) in Waxahachie, Texas, USA for USD14.4m.

Also, the company said that it will lease the 121-bed facility to an affiliate of the Ensign Group Inc. Further, this is the second of four acquisitions that it had previously committed to and will be added to the existing lease at an initial rate of 8.2% plus annual lease escalators based on inflation.

The facility that opened in November 2016, joins Ensign's current assets consisting of 16 SNFs in Texas. This acquisition was financed by the company's revolving credit facility.

A real estate investment trust, National Health was incorporated in 1991 and specialises in sale-leaseback, joint-venture, mortgage and mezzanine financing of senior housing and medical investments.

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Publication:M2 EquityBites (EQB)
Geographic Code:1U7TX
Date:Jan 18, 2018
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