National Health Investors acquires senior living campus in Loma Linda, California

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National Health InvestorsOct 1 2012

National Health Investors, Inc. (NYSE:NHI) announced today the $12 million acquisition of a 181-unit senior living campus in Loma Linda, California funded from available cash and from borrowings on NHI's revolving credit facility. The Linda Valley campus is comprised of 98 independent living units and 83 skilled nursing beds.

Chancellor Health Care, LLC, will lease and continue to operate the campus for an initial term of 15 years plus renewal options at a lease rate of 9% plus annual fixed escalators. "Chancellor Health Care has over 20 years of senior living operating experience. We are pleased to establish our business relationship," said Justin Hutchens, NHI's President and CEO. "Acquiring this campus provides a foothold in Southern California."

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National Health Investors

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