MURFREESBORD, TN: National Health Investors (NYSE: NHI) has entered into a definitive agreement to acquire a portfolio of eight senior living communities in the South Atlantic region for $476 million.
Following the transaction, which is expected to close by December 31, 2014, NHI will lease the eight communities to Charlotte, North Carolina-based operator Senior Living Communities, LLC, pursuant to a 15-year master lease. The lease equates to an initial cash yield of 6.51% of the purchase price and has annual escalators of 4% in years two through four, and annual escalators thereafter of 3%…