National Health Investors has drawn on its revolving credit line to buy an Alabama retirement community for $12 million and has signed a 15-year lease deal with Discovery Senior Living. The two companies also have signed a deal to have NHI fund a $2.5 million second mortgage on a Discovery project in Florida. Check out the details here.
Clarksville officials will on Thursday host a ribbon-cutting to mark the opening of The Vinings at Greencastle, an 80-unit affordable housing community for senior citizens that is the first of its kind in the city. The $9.3 million project developed by Clarksville’s Office of Housing and Community Development and The Vantage Group includes 68 two-bedroom and 12 one-bedroom units. It was financed by a coalition that includes UnitedHealthcare, U.S. Bancorp Community Development Corp., the Clarksville Office of Housing and Community Development and the Tennessee Housing Development Agency.
A quartet of Brookdale Senior Living insiders — including the company's former CEO — have in the past week sold chunks of their stock holdings, generating almost $8 million. The biggest sale came from Bill Sheriff, who led the Brentwood-based company until this past February and still sits on its board of directors. He hit the sell button on 200,000 shares worth more than $5.3 million and gifted another $1.1 million worth. (He still owns more than 640,000 shares of Brookdale (Ticker: BKD), which have given up 11 percent in the past month but are still up slightly year to date.
Also lightening their company stakes since last Friday were director James Seward and Chief Administrative Officer Bryan Richardson, who both sold 40,000 shares for about $1.1 million, and COO Gregory Richard, who sold more than 14,000 shares for about $400,000.
SEE ALSO: Other noteworthy insider transactions from this summer