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AdCare to purchase Tenn.-based nursing facility

AdCare Health Systems Inc. plans to purchase a Tennessee-based skilled nursing facility for about $9 million.

The acquisition is expected to be completed in the first quarter of 2017, with the facility to be leased to Skyline Healthcare LLC, a former tenant, for a 15-year term with initial annual cash rent of $900,000 in the first year and a 2% annual rent escalator.