Strong Investment Activity and Pipeline
Year-to-date, NHI has closed on investments totaling over $205 million at an average initial yield of approximately 8.4%. The company is evaluating an incremental pipeline of approximately $350 million, with several large portfolios, including SHOP and skilled nursing deals.
Improvement in SHOP Segment
SHOP occupancy improved to 88.6% for the quarter, approaching levels for potential rate growth. Third quarter NOI increased 30.4% year-over-year and 2.5% sequentially to $3 million, with resident fees up 11.4% year-over-year.
Successful Capital Raising
NHI completed an overnight equity offering with a forward equity component, raising approximately $189 million in proceeds. Additionally, the company closed on the amendment of its $700 million revolving credit facility, extending the maturity date to October 2028.