NHC Acquisition
The Tennessean reported that the national for profit chain National HealthCare Corp. agreed to buy six nursing homes -- including three in the Nashville area -- for $21 million from a related entity and its biggest landlord, National Health Investors. NHI was created in 1991 to own NHC properties and has since expanded to owning other medically-related facilities beyond those that the nursing home chain runs.
In addition, Murfreesboro-based real estate investment trust NHI has extended a lease with the company’s biggest tenant, NHC, for 41 facilities — 38 nursing homes and three independent living facilities.
Separately, NHI also sold a 148-unit senior living facility to that facility’s operator Sunrise Senior Living Inc. for $23 million. NHI referred to the six nursing homes it has an asset purchase service agreement to sell to NHC as older facilities. NHC’s spokesman Gerald Coggin considers them well-operated with high occupancy rates in great markets.
