{"success":true,"data":{"pressRelease":{"id":"3638","rtpr_id":"nACS24YPRa","ticker":"NHI","exchange":"NYSE","all_tickers":["NHI"],"title":"NHI Announces Sale of NHC Portfolio for $560 Million","author":"ACCESSWIRE","published_at":"2026-04-21T20:22:44.921Z","article_body":"Transaction Strengthens Balance Sheet and Accelerates Capital Recycling into\nPrivate Pay Senior Housing\n\nMURFREESBORO, TN / ACCESS Newswire (https://www.accessnewswire.com/) / April\n21, 2026 / National Health Investors, Inc. (NYSE:NHI) today announced that it\nhas executed a purchase and sale agreement to sell its portfolio of 32 skilled\nnursing facilities (\"SNF\") and three independent living facilities to National\nHealthCare Corporation (\"NHC\"), the current lessee, for $560.0 million. The\nCompany expects to incur transaction costs in a range of $6.0 - $8.0 million\nand anticipates closing on July 1, 2026, subject to certain customary closing\nconditions, including the expiration or termination of the waiting period\nunder the Hart-Scott-Rodino Antitrust Improvements Act of 1976.\n\nThe strategic rationale and key benefits of the sale include:\n*\nIncreases private-pay senior housing concentration, with the Senior Housing\nOperating Portfolio (\"SHOP\") segment expected to represent approximately 22.0%\nof total investments and 13.8% of annualized NOI on a pro forma basis.\n*\nReduces skilled nursing exposure to approximately 12.2% of total investments\nand 16.5% of annualized NOI.\n*\nStrengthens the consolidated balance sheet, with net debt-to-annualized EBITDA\nreduced to approximately 2.3x on a pro forma basis and available liquidity of\napproximately $1.4 billion.\n*\nEnhances corporate governance, as the transaction, together with the pending\ndepartures of Robert G. Adams and Charlotte A. Swafford from the Board of\nDirectors, eliminates potential conflicts of interest between NHI and NHC.\n*\nExpands capital recycling capacity as NHI evaluates a robust pipeline of\nprivate pay senior housing investment opportunities.\n\n\"We are pleased to have reached an agreement on the NHC portfolio, which\nprovides NHI with significant capital and financial flexibility,\" said Eric\nMendelsohn, President and Chief Executive Officer.\n\n\"This transaction accelerates our capital recycling strategy, increases our\nconcentration in private-pay senior housing, and positions us to pursue\nattractive investment opportunities. We remain disciplined in our underwriting\nand focused on generating long-term value for stockholders.\"\n\nFinancial Impact\nThe 35 properties currently leased to NHC generated cash lease revenue of\napproximately $39.7 million in 2025, including percentage rent.\n\nNHI expects to use the net proceeds from the transaction to repay outstanding\nborrowings and to fund future investments consistent with its capital\nallocation strategy, including potential tax-deferred reinvestment through\nSection 1031 exchanges.\n\nThe Company's outlook remains subject to several variables, including the\ntiming and impact of the transaction and potential capital redeployment. The\nCompany expects to provide an update in connection with its earnings release\nfor the quarter ended March 31, 2026.\n\nThe transaction was reviewed and approved by a Special Committee of\nNon-Interested Directors (\"Special Committee\").\n\nBlueprint Healthcare Real Estate Advisors is serving as transaction advisor to\nNHI. Houlihan Lokey Capital, Inc. is serving as financial advisor to the\nSpecial Committee and Venable LLP is serving as legal counsel to the Special\nCommittee.\n\nInvestor Presentation\nAn investor presentation with additional details regarding the transaction is\navailable on the Company's website at:\n\nhttps://investors.nhireit.com/News/presentations-and-webcasts/default.aspx\n\nAbout National Health Investors, Inc.\nNational Health Investors, Inc. (NYSE: NHI), established in 1991 as a Maryland\ncorporation, is a self-managed real estate investment trust (\"REIT\"). The\nCompany owns, leases, operates and finances the development of high-quality\nreal estate properties, focusing on senior housing communities and medical\nfacilities. The Company operates through two reportable segments: Real Estate\nInvestments and SHOP. The Company's investments in real estate properties\ninclude independent living facilities, assisted living facilities,\nentrance-fee communities, senior living campuses, skilled nursing facilities\nand hospitals. For more information, visit www.nhireit.com.\n\nForward-Looking Statements\nThis press release includes forward-looking statements within the meaning of\nSection 27A of the Securities Act of 1933, as amended, and Section 21E of the\nSecurities Exchange Act of 1934, as amended. All statements regarding the\nexpected completion and timing of the proposed transaction and other\ninformation relating to the proposed transaction, the Company's expected\nfuture financial positions, results of operations, cash flows, funds from\noperations, dividend and dividend plans, financing opportunities and plans,\ncapital market transactions, business strategy, budgets, projected costs,\noperating metrics, capital expenditures, competitive positions, acquisitions,\ninvestment opportunities, dispositions, acquisition integration, growth\nopportunities, expected lease income, continued qualification as a REIT, plans\nand objectives of management for future operations, continued performance\nimprovements, ability to service and refinance debt obligations, ability to\nfinance growth opportunities, and similar statements including, without\nlimitation, those containing words such as \"may\", \"will\", \"should\",\n\"believes\", \"anticipates\", \"expects\", \"intends\", \"estimates\", \"plans\",\n\"projects\", \"target\", \"likely\" and other similar expressions are\nforward-looking statements. Forward-looking statements involve known and\nunknown risks and uncertainties that may cause the actual results in future\nperiods to differ materially from those projected or contemplated in the\nforward-looking statements. Such risks and uncertainties include, but are not\nlimited to, the following: (i) the risk that the proposed transaction may not\nbe completed in a timely manner or at all, which may adversely affect the\nCompany's business and the price of the Company's common stock; (ii) risks\nrelated to the satisfaction of the conditions to closing the proposed\ntransaction in the anticipated timeframe or at all; (iii) the occurrence of\nany event, change or other circumstance that could give rise to termination of\nthe purchase and sale agreement for the proposed transaction; (iv) negative\neffects of the announcement of the proposed transaction or the consummation of\nthe proposed transaction on the market price of the Company's common stock and\non the Company's operating results; and (v) those risks and uncertainties\ndescribed under the heading \"Risk Factors\" in Item 1A in the Company's Annual\nReport on Form 10-K for the year ended December 31, 2025 and in other\ndocuments filed by the Company with the Securities and Exchange Commission\n(the \"SEC\"). Many of these factors are beyond the control of the Company and\nits management. The Company assumes no obligation to update any\nforward-looking statements, except as required by law, and these statements\nspeak only as of the date on which they are made. Investors are urged to\ncarefully review and consider the various disclosures made by the Company in\nits periodic reports filed with the SEC, including the risk factors and other\ninformation in the above referenced Annual Report on Form 10-K. Copies of\nthese filings are available at no cost on the SEC's website at\nhttps://www.sec.gov or on the Company's website at www.nhireit.com.\n\nContact: Dana Hambly, Vice President, Finance & Investor Relations\nPhone: (615) 890-9100\n\nSOURCE: National Health Investors\nView the original press release\n(https://www.accessnewswire.com/newsroom/en/healthcare-and-pharmaceutical/nhi-announces-sale-of-nhc-portfolio-for-560-million-1159421)\non ACCESS Newswire\n\n\nCopyright 2026 ACCESS Newswire. All Rights Reserved.","article_body_html":"","raw_payload":{"data":{"id":"nACS24YPRa","title":"NHI Announces Sale of NHC Portfolio for $560 Million","author":"ACCESSWIRE","ticker":"NHI","created":"2026-04-21T20:22:44.921Z","tickers":["NHI"],"exchange":"NYSE","article_body":"Transaction Strengthens Balance Sheet and Accelerates Capital Recycling into\nPrivate Pay Senior Housing\n\nMURFREESBORO, TN / ACCESS Newswire (https://www.accessnewswire.com/) / April\n21, 2026 / National Health Investors, Inc. (NYSE:NHI) today announced that it\nhas executed a purchase and sale agreement to sell its portfolio of 32 skilled\nnursing facilities (\"SNF\") and three independent living facilities to National\nHealthCare Corporation (\"NHC\"), the current lessee, for $560.0 million. The\nCompany expects to incur transaction costs in a range of $6.0 - $8.0 million\nand anticipates closing on July 1, 2026, subject to certain customary closing\nconditions, including the expiration or termination of the waiting period\nunder the Hart-Scott-Rodino Antitrust Improvements Act of 1976.\n\nThe strategic rationale and key benefits of the sale include:\n*\nIncreases private-pay senior housing concentration, with the Senior Housing\nOperating Portfolio (\"SHOP\") segment expected to represent approximately 22.0%\nof total investments and 13.8% of annualized NOI on a pro forma basis.\n*\nReduces skilled nursing exposure to approximately 12.2% of total investments\nand 16.5% of annualized NOI.\n*\nStrengthens the consolidated balance sheet, with net debt-to-annualized EBITDA\nreduced to approximately 2.3x on a pro forma basis and available liquidity of\napproximately $1.4 billion.\n*\nEnhances corporate governance, as the transaction, together with the pending\ndepartures of Robert G. Adams and Charlotte A. Swafford from the Board of\nDirectors, eliminates potential conflicts of interest between NHI and NHC.\n*\nExpands capital recycling capacity as NHI evaluates a robust pipeline of\nprivate pay senior housing investment opportunities.\n\n\"We are pleased to have reached an agreement on the NHC portfolio, which\nprovides NHI with significant capital and financial flexibility,\" said Eric\nMendelsohn, President and Chief Executive Officer.\n\n\"This transaction accelerates our capital recycling strategy, increases our\nconcentration in private-pay senior housing, and positions us to pursue\nattractive investment opportunities. We remain disciplined in our underwriting\nand focused on generating long-term value for stockholders.\"\n\nFinancial Impact\nThe 35 properties currently leased to NHC generated cash lease revenue of\napproximately $39.7 million in 2025, including percentage rent.\n\nNHI expects to use the net proceeds from the transaction to repay outstanding\nborrowings and to fund future investments consistent with its capital\nallocation strategy, including potential tax-deferred reinvestment through\nSection 1031 exchanges.\n\nThe Company's outlook remains subject to several variables, including the\ntiming and impact of the transaction and potential capital redeployment. The\nCompany expects to provide an update in connection with its earnings release\nfor the quarter ended March 31, 2026.\n\nThe transaction was reviewed and approved by a Special Committee of\nNon-Interested Directors (\"Special Committee\").\n\nBlueprint Healthcare Real Estate Advisors is serving as transaction advisor to\nNHI. Houlihan Lokey Capital, Inc. is serving as financial advisor to the\nSpecial Committee and Venable LLP is serving as legal counsel to the Special\nCommittee.\n\nInvestor Presentation\nAn investor presentation with additional details regarding the transaction is\navailable on the Company's website at:\n\nhttps://investors.nhireit.com/News/presentations-and-webcasts/default.aspx\n\nAbout National Health Investors, Inc.\nNational Health Investors, Inc. (NYSE: NHI), established in 1991 as a Maryland\ncorporation, is a self-managed real estate investment trust (\"REIT\"). The\nCompany owns, leases, operates and finances the development of high-quality\nreal estate properties, focusing on senior housing communities and medical\nfacilities. The Company operates through two reportable segments: Real Estate\nInvestments and SHOP. The Company's investments in real estate properties\ninclude independent living facilities, assisted living facilities,\nentrance-fee communities, senior living campuses, skilled nursing facilities\nand hospitals. For more information, visit www.nhireit.com.\n\nForward-Looking Statements\nThis press release includes forward-looking statements within the meaning of\nSection 27A of the Securities Act of 1933, as amended, and Section 21E of the\nSecurities Exchange Act of 1934, as amended. All statements regarding the\nexpected completion and timing of the proposed transaction and other\ninformation relating to the proposed transaction, the Company's expected\nfuture financial positions, results of operations, cash flows, funds from\noperations, dividend and dividend plans, financing opportunities and plans,\ncapital market transactions, business strategy, budgets, projected costs,\noperating metrics, capital expenditures, competitive positions, acquisitions,\ninvestment opportunities, dispositions, acquisition integration, growth\nopportunities, expected lease income, continued qualification as a REIT, plans\nand objectives of management for future operations, continued performance\nimprovements, ability to service and refinance debt obligations, ability to\nfinance growth opportunities, and similar statements including, without\nlimitation, those containing words such as \"may\", \"will\", \"should\",\n\"believes\", \"anticipates\", \"expects\", \"intends\", \"estimates\", \"plans\",\n\"projects\", \"target\", \"likely\" and other similar expressions are\nforward-looking statements. Forward-looking statements involve known and\nunknown risks and uncertainties that may cause the actual results in future\nperiods to differ materially from those projected or contemplated in the\nforward-looking statements. Such risks and uncertainties include, but are not\nlimited to, the following: (i) the risk that the proposed transaction may not\nbe completed in a timely manner or at all, which may adversely affect the\nCompany's business and the price of the Company's common stock; (ii) risks\nrelated to the satisfaction of the conditions to closing the proposed\ntransaction in the anticipated timeframe or at all; (iii) the occurrence of\nany event, change or other circumstance that could give rise to termination of\nthe purchase and sale agreement for the proposed transaction; (iv) negative\neffects of the announcement of the proposed transaction or the consummation of\nthe proposed transaction on the market price of the Company's common stock and\non the Company's operating results; and (v) those risks and uncertainties\ndescribed under the heading \"Risk Factors\" in Item 1A in the Company's Annual\nReport on Form 10-K for the year ended December 31, 2025 and in other\ndocuments filed by the Company with the Securities and Exchange Commission\n(the \"SEC\"). Many of these factors are beyond the control of the Company and\nits management. The Company assumes no obligation to update any\nforward-looking statements, except as required by law, and these statements\nspeak only as of the date on which they are made. Investors are urged to\ncarefully review and consider the various disclosures made by the Company in\nits periodic reports filed with the SEC, including the risk factors and other\ninformation in the above referenced Annual Report on Form 10-K. Copies of\nthese filings are available at no cost on the SEC's website at\nhttps://www.sec.gov or on the Company's website at www.nhireit.com.\n\nContact: Dana Hambly, Vice President, Finance & Investor Relations\nPhone: (615) 890-9100\n\nSOURCE: National Health Investors\nView the original press release\n(https://www.accessnewswire.com/newsroom/en/healthcare-and-pharmaceutical/nhi-announces-sale-of-nhc-portfolio-for-560-million-1159421)\non ACCESS Newswire\n\n\nCopyright 2026 ACCESS Newswire. All Rights Reserved."},"type":"article","timestamp":"2026-04-21T20:22:44.96757168Z","server_sent_at_ms":1776802964967},"received_at":"2026-04-21T20:22:45.020Z","source_url":"https://www.accessnewswire.com/newsroom/en/healthcare-and-pharmaceutical/nhi-announces-sale-of-nhc-portfolio-for-560-million-1159421"},"analysis":null,"durationMs":null,"modelName":null}}