Murfreesboro, Tenn.-based National Health Investors Inc. announced it is acquiring Charleston House, a 120-unit assisted living and memory care facility in Beaver Dam, for $20.2 million.
Charleston House will be leased to Landmark Senior Living Communities for an initial term of 15 years with renewal options. The purchase was funded with borrowings on NHI’s revolving credit facility.
“This acquisition is illustrative of NHI’s commitment to growing our private-pay assisted living portfolio through creating valuable relationships with experienced operators,” said Justin Hutchens, NHI’s president and chief executive officer. National Health Investors is a health care real estate investment trust specializing in financing health care real estate by purchase and leaseback transactions.