National Health Investors is in the midst of a transformation that includes downsizing and joint ventures, which company leaders believe will position the real estate investment trust for success in 2022, Senior Housing News reports.
The Murfreesboro, Tennessee-based REIT is planning to pare down its portfolio managed by Bickford Senior Living, going from 42 communities as of Sept. 30 to 35 or 36. NHI also is “resetting” Bickford’s annual cash rent to a lease coverage level that “makes them a much healthier tenant financially,” NHI CEO and President Eric Mendelsohn said.
At the same time, the REIT in August sold a portfolio of nine underperforming Holiday-managed properties, and has plans to sell two more. Read more.
