National Health Investors Announces $560M Asset Sale, $107M SHOP Investment in Colorado
National Health Investors announced a $560 million asset sale and a $106.9 million investment to acquire seven senior housing properties with 532 units in Colorado as part of its planned transition to the Senior Housing Operating Portfolio model [1][2]. The moves are designed to enhance growth potential while maintaining a 5% dividend yield and a pro forma net debt/EBITDA ratio of 2.3x [1].
National Health Investors sold $560 million in assets and invested $106.9 million, including transaction costs, to acquire seven properties with 532 units in Colorado as part of its Senior Housing Operating Portfolio [1][2]. The REIT accelerated its transition from triple-net leases to direct property operations, a strategy designed to capture higher returns from senior housing facilities.
The company's pro forma net debt to EBITDA ratio is expected to reach 2.3 times following the asset sale, down from prior leverage levels [1]. The REIT maintains a funds available for distribution payout ratio of approximately 74.5 percent based on current guidance, leaving material cushion for dividend sustainability [1]. The dividend yield stands at approximately 5 percent [1].
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