National Health Investors Expands Senior Housing Portfolio

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.

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.