National Health In $42 Mln Sale-leaseback Arrangement With Prestige Senior

(RTTNews) - National Health Investors Inc (NHI) Monday announced today a sale-leaseback arrangement with Vancouver, WA based Prestige Senior Living. The $42 million acquisition includes one Assisted Living Community in Idaho and three Skilled Nursing Facilities in Oregon.

Prestige will lease all four facilities for a 15-year term with renewal options at an initial lease rate of 8.4% plus fixed annual escalators.

Additionally, National Health has committed to funding an earn out up to $6.4 million upon receipt of Prestige's performance results that meet certain financial metrics for the periods ending December 2014, June 2015 and December 2015, increasing total potential investment to $48.4 million.