KeyBank Provides NHI’s $78MM Fannie Mae Financing
National Health Investors obtained $78 million in Fannie Mae financing through KeyBank. The debt financing consists of interest-only payments at 3.79% and a 10-year maturity. The mortgages are secured by 13 properties in NHI’s joint venture with Bickford Senior Living.
Proceeds were used to reduce borrowings on NHI’s unsecured bank credit facility.
“With KeyBank’s assistance, we were able to add this long-term financing to our capital base at a historically low fixed interest rate,” said Justin Hutchens, NHI’s CEO and president. “This refinancing fits nicely with NHI’s capital plan, which includes staggered and long-dated debt maturities.”
National Health Investors is a real estate investment trust.