---
schema_version: "secwatch.filing_event.v1"
accession: "0000877860-26-000106"
form_type: "8-K"
ticker: "NHI"
cik: "0000877860"
company_name: "NATIONAL HEALTH INVESTORS INC"
filed_at: "2026-04-21T23:59:59+00:00"
generated_at: "2026-05-15T05:14:48.751309+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# NHI signs $560M sale of 35 SNF/IL facilities to NHC; reduces leverage, pivots to private-pay

## Summary
- Purchase price of $560M for 32 skilled nursing + 3 independent living facilities currently leased to NHC.
- Expected closing July 1, 2026; subject to HSR clearance; no financing contingency.
- Pro forma net debt/EBITDA drops to ~2.3x, available liquidity ~$1.4B, SHOP to represent 22% of investments.
- Skilled nursing exposure reduced to ~12.2% of total investments; cash lease revenue from portfolio was ~$39.7M in 2025.
- Special Committee of independent directors unanimously approved; Board governance conflicts with NHC to be eliminated.

## SEC filing metadata
- accession: 0000877860-26-000106
- form_type: 8-K
- ticker: NHI
- cik: 0000877860
- company_name: NATIONAL HEALTH INVESTORS INC
- filed_at: 2026-04-21T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.02, 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/877860/000087786026000106/0000877860-26-000106-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/877860/000087786026000106/nhi-20260420.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000877860-26-000106
- JSON: https://secwatch.observer/filing/0000877860-26-000106.json
- Plain text: https://secwatch.observer/filing/0000877860-26-000106.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.