NHI to Acquire 10 Spring Arbor Communities for $121M in Largest Deal Since 2020

National Health Investors (NYSE: NHI) has made its largest transaction in four years with the acquisition of a portfolio of communities in North Carolina for $121 million. The portfolio includes 10 assisted living and memory care communities totaling 522 units, all under a 15-year master lease with two five-year renewal options. The communities, currently operated by Spring Arbor Management, will continue to be managed by the same operator. Spring Arbor Senior Living operates 37 assisted living and memory care communities in 10 states, primarily in the Southeast and Midwest. Despite recent hurricane activity, the North Carolina communities were unaffected. NHI funded the acquisition using its revolving credit facility and has a $305 million pipeline of potential deals on the horizon. The company’s investment pipeline is at its most active in recent memory, with $35 million in signed letters of intent for further investment. Looking ahead, NHI remains optimistic about future growth opportunities and CEO Eric Mendelsohn anticipates years of exceptional growth to come. NHI’s stock price closed at $78.64 per share, reflecting a 3.49% dip on Thursday.