NHI Invests $9.34 Million for an Assisted Living Memory Care Community in Minnesota and Further Expands Relationship with 41 Management
MURFREESBORO, Tenn.--(BUSINESS WIRE)--National Health Investors, Inc. (NYSE:NHI) announced today that it has purchased Coventry of Mahtomedi, a 48-unit assisted living and memory care community in Mahtomedi, MN. The community was purchased for $9.34 million, including closing costs of approximately $134,000, at an initial yield of 7.23% and was added to the existing master lease with 41 Management, LLC, a growing Midwest operator owned by Thomas Ostrom. The 41 Management, LLC master lease cover
NHI Invests $9.34 Million for an Assisted Living Memory Care Community in Minnesota and Further Expands Relationship with 41 Management
MURFREESBORO, Tenn.--(BUSINESS WIRE)--National Health Investors, Inc. (NYSE:NHI) announced today that it has purchased Coventry of Mahtomedi, a 48-unit assisted living and memory care community in Mahtomedi, MN. The community was purchased for $9.34 million, including closing costs of approximately $134,000, at an initial yield of 7.23% and was added to the existing master lease with 41 Management, LLC, a growing Midwest operator owned by Thomas Ostrom. The 41 Management, LLC master lease cover