U.S.-based real estate investment trust National Health Investors, Inc. (NHI) has agreed to invest $25.4 million in a new nursing facility in Oak Creek, Wisconsin.
The development of a 144-bed skilled facility with the 9.5 percent initial yield earned during construction will be capitalized into NHI’s investment.
The new facility, Ignite Medical Resort Oak Creek, will be operated by a tenant entity owned by affiliates of U.S.-based healthcare facilities operator Villa Healthcare and rival Ignite Medical Resorts.
With an initial commitment of $4.7 million, construction is underway and expected to be completed in the second quarter of 2020.