National Health Investors, Inc. (NYSE: NHI)
National Health Investors, Inc. (NHI) is a real estate investment trust that specializes in the purchase and leaseback of health care real estate and in making of mortgage loans to health care operators. Beginning operation on October 17, 1991, NHI invests heavily in health care properties, primarily in the long-term care industry.
With about 120 facilities in some 17 states, holdings also include residences for people with developmental disabilities, assisted-living complexes, medical office buildings, retirement centers, and an acute care hospital. About one-third of National Health Investors' properties are leased to its largest tenant National HealthCare Corporation; half are leased to regional health care providers. A majority of the REIT's facilities are located in Florida, Texas, and Tennessee.
National Health Investors typically takes a purchase-leaseback approach, in which it acquires properties and leases them back to their previous operators. It provides mortgage and construction loans to operators who agree to lease the property once built.