National HealthCare to Acquire 32 Nursing Facilities for $560M
National HealthCare announced entry into a Purchase and Sale Agreement to acquire the real estate of thirty-two skilled nursing facilities and three independent living facilities from National Health Investors, and its affiliates, or NHI. The purchase price is $560M. NHC, through affiliates, has been leasing and operating the facilities under a Master Agreement to Lease with NHI. he facilities subject to the agreement are located in Alabama, Florida, Kentucky, Missouri, South Carolina, Tennessee, and Virginia. NHC currently operates and will continue to operate all of these facilities, except four Florida skilled nursing facilities. The four Florida skilled nursing facilities will continue to be subject to a third-party operator's lease after the closing of the transaction. The transaction is expected to close in the Q3 subject to customary closing conditions, including the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended.
