The newly acquired communities will fall under the management of Allegro Living Management, a long-term partner of the Murfreesboro-based REIT. NHI anticipates an initial net operating income yield of approximately 7.0%, which is projected to settle at 6.6% after accounting for routine capital expenditures. A further $2.3 million investment is earmarked for the properties within the first year of ownership.
National Health Investors Expands Senior Housing Portfolio
National Health Investors has acquired six senior housing properties across Kentucky, Michigan, and Tennessee for $107.7 million. The deal adds 443 units to the firm's Senior Housing Operating Portfolio, marking a strategic expansion as the company leverages recent asset sales to fuel further growth in the healthcare real estate sector.
Beyond this acquisition, NHI is positioning itself for additional expansion. The company currently holds $164.3 million in signed letters of intent and $51.7 million in purchase options. Management plans to utilize proceeds from a Section 1031 exchange, initiated during the recent sale of its NHC portfolio, to fund these ventures and defer taxable gains. Looking ahead, the company is evaluating a broader pipeline of roughly $285 million in potential investments, spanning sale-leasebacks and senior housing loans.
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