Business
NHI Announces Sale of NHC Portfolio for $560 Million
Transaction Strengthens Balance Sheet and Accelerates Capital Recycling into Private Pay Senior Housing MURFREESBORO, TN / ACCESS Newswire / April 21, 2026 / National Health Investors, Inc. (NYSE:NHI) today announced that it has executed a purchase ...
About this update from National Health Investors, Inc.
[{"type":"text","content":"Transaction Strengthens Balance Sheet and Accelerates Capital Recycling into Private Pay Senior Housing","length":103,"tagName":"p"},{"type":"text","content":"MURFREESBORO, TN / ACCESS Newswire / April 21, 2026 / National Health Investors, Inc. (NYSE:NHI) today announced that it has executed a purchase and sale agreement to sell its portfolio of 32 skilled nursing facilities ("SNF") and three independent living facilities to National HealthCare Corporation ("NHC"), the current lessee, for $560.0 million. The Company expects to incur transaction costs in a range of $6.0 - $8.0 million and anticipates closing on July 1, 2026, subject to certain customary closing conditions, including the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.","length":667,"tagName":"p"},{"type":"text","content":"The strategic rationale and key benefits of the sale include:","length":61,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Increases private-pay senior housing concentration, with the Senior Housing Operating Portfolio ("SHOP") segment expected to represent approximately 22.0% of total investments and 13.8% of annualized NOI on a pro forma basis.","length":235,"tagName":"p"}]},{"val":[{"type":"text","content":"Reduces skilled nursing exposure to approximately 12.2% of total investments and 16.5% of annualized NOI.","length":105,"tagName":"p"}]},{"val":[{"type":"text","content":"Strengthens the consolidated balance sheet, with net debt-to-annualized EBITDA reduced to approximately 2.3x on a pro forma basis and available liquidity of approximately $1.4 billion.","length":184,"tagName":"p"}]},{"val":[{"type":"text","content":"Enhances corporate governance, as the transaction, together with the pending departures of Robert G. Adams and Charlotte A. Swafford from the Board of Directors, eliminates potential conflicts of interest between NHI and NHC.","length":225,"tagName":"p"}]},{"val":[{"type":"text","content":"Expands capital recycling capacity as NHI evaluates a robust pipeline of private pay senior housing investment opportunities.","length":125,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":874,"olType":false},{"type":"text","content":""We are pleased to have reached an agreement on the NHC portfolio, which p...