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NHI to fund $10.8 million construction loan using revolver draws
By Sarah Lizee
Olympia, Wash., June 17 – National Health Investors, Inc. (NHI) announced today it will fund a $10.8 million construction loan for a 66-bed assisted living and memory care community located in Oshkosh, Wis.
Construction is expected to begin immediately after closing and is expected to be completed within 12 months.
The five-year loan will have an annual interest rate of 8˝% and two one-year renewals.
Funding of the construction will be provided from periodic draws on the company’s revolving credit facility.
The health care real estate investment trust, based in Murfreesboro, Tenn., specializes in the financing of health care real estate by purchase and leaseback transactions and mortgage loans.
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