National Health Investors, a Murfreesboro–based real estate investment trust, continues to live up to the “investor” portion of its moniker as company officials have closed on yet another deal in 2012, this time in Wisconsin.
NHI paid a little more than $20 million for Charleston House, a 120-unit assisted living facility in Beaver Dam, Wis., according to a statement released today. The operation is a “living and memory care” center and will be leased to Landmark Senior Living Communities for an initial term of 15 years.
"This acquisition is illustrative of NHI's commitment to growing our private-pay assisted living portfolio through creating valuable relationships with experienced operators," said Justin Hutchens, NHI’s president and CEO.
Earlier this week, NHI announced a similar purchase involving three assisted-living properties in Oregon and Idaho. That $9 million deal was completed with seller Milestone Retirement Communities. Both purchases were funded through NHI’s existing credit lines.