Memory care facilities purchased
National Health Investors Inc. has exercised its purchase option to acquire five assisted living and memory care facilities owned and operated by Bickford Senior Living for $87.5 million.
The facilities are in Crystal Lake, IA; St. Charles, MO; Oswego, IL; Omaha, NE; and West Des Moines, IA.
NHI committed $2.4 million for capital expenditures and expansion of the existing facilities.
The funding of which will be added to the lease base. The lease has an initial term of 15 years plus two 5-year renewal options.