National Health Investors, Inc. (NYSE:NHI) announced today that it has signed a definitive agreement with an affiliate of Life Care Services (“LCS”) to form a joint venture (“NHI-LCS JV”) to own and operate the Timber Ridge at Talus (“Timber Ridge”) continuing care retirement community (“CCRC”). NHI-LCS JV is acquiring Timber Ridge from a joint venture between Westminster Capital and LCS for a purchase price of $133 million exclusive of closing costs which are estimated to be approximately $2.0 million. Timber Ridge is a Type A CCRC in Issaquah, WA and serves the greater Seattle area.
Read the full article: NHI Announces Agreement to Form a Joint Venture with LCS to Buy Timber Ridge CCRC in Issaquah, WA //
Source: https://www.businesswire.com/news/home/20200107005307/en/NHI-Announces-Agreement-Form-Joint-Venture-LCS