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.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.