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National Health signs purchase-leaseback deal for Mass. senior living campus

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National Health signs purchase-leaseback deal for Mass. senior living campus

National Health Investors Inc. agreed to purchase and leaseback Wingate at Silver Lake, a senior living campus in Kingston, Mass., for a total initial investment of $50.3 million, funded through its revolving credit facility.

The campus comprises three separate buildings with 69 assisted living units, 34 independent living units and 164 skilled nursing beds.

The 10-year lease agreement comes with three five-year renewal options and an initial annual lease rate of 7.5% plus annual fixed escalators.