Senior Housing News November 6, 2024
National Health Investors (NYSE: NHI) is working through lingering trouble with one of its operating partners as it keeps its eye on future investments.
In October, the Murfreesboro, Tennessee-based real estate investment trust (REIT) transitioned four communities from Senior Living Management (SLM) to other operators after SLM “raised doubts about [its] ability to sustain its operations and pay its contractual rent and interest obligations prospectively.”
SLM rent and interest payments were $400,000 and $300,000, respectively, in the third quarter of 2024, leaders with NHI shared during a third-quarter earnings call with investors and analysts.
NHI has a $10 million mortgage note receivable and a $14.5 million mezzanine loan due from affiliates of SLM “that were designated as non-performing,” the...
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