NHI takes legal action over inherited vacation properties


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MURFREESBORO, TN / ACCESSWIRE / December 27, 2021 / National Health Investors, Inc. (NYSE: NHI), NHI-REIT of Next House, LLC, Myrtle Beach Retirement Resident LLC, and Vorhees Retirement Residence LLC (collectively, “NHI”) have filed an action against Welltower and certain of its subsidiaries ( collectively, the “Well Tower Entities”) in the Delaware Court of Chancellery (the “Litigation”). In the litigation, NHI argues that the Welltower entities have repeatedly breached their legal obligations to NHI. In particular, NHI claims that the Welltower entities acquired assets from a third party, Holiday Retirement, which included leases to NHI seniors’ residences and fraudulently induced NHI to consent to the assignment of the leases, then immediately failed. to pay the rent or provide a promise of a guarantee agreement that was intended to guard against their default, all as part of an effort to pressure NHI to agree to new terms outside of it. Agreement to transfer or force the sale of properties to Welltower entities. The Litigation further asserts that the Welltower Entities currently owe more than $ 14.1 million in past rents. The dispute is called NHI, Complainants v. Welltower Entities, Defendants under file number 2021-1097-MTZ.

About INSA

Established in 1991, National Health Investors, Inc. (NYSE: NHI) is a real estate investment trust specializing in sale and leaseback, joint ventures, mortgages and mezzanine financing of senior housing and discretionary medical investments and responding to needs. NHI’s portfolio consists of independent, assisted and memory-care communities, fee-paying retirement communities, skilled nursing facilities, medical office buildings and specialist hospitals. For more information, visit www.nhireit.com.

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding the outcome of the Litigation and similar statements, including, without limitation, those containing words such as “may”, “will”, “believes”, “anticipates”, “expects” “,” Intention “,” estimates “,” plans “and other similar expressions are forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties that may cause our actual results in future periods to differ materially from those projected or contemplated in forward-looking statements. These risks and uncertainties include, among others, the risks discussed in the risk factors disclosed in NHI’s annual report on Form 10-K for the last financial year ended. Copies of these documents are available free of charge on the SEC’s website at https://www.sec.gov or on the NHI website at https://www.nhireit.com. Many of these factors are beyond the control of the Company and its management. The Company assumes no obligation to update any of the foregoing statements or any other forward-looking statement, except as required by law, and such statements speak only as of the date on which they are made. Investors are urged to carefully review and consider the various disclosures made by NHI in its periodic reports filed with the Securities and Exchange Commission.

Contact:
Dana Hambly, Vice-President, Investor Relations
Telephone: (615) 890-9100

THE SOURCE: National Health Investors, Inc.

See the source version on accesswire.com:
https://www.accesswire.com/679788/NHI-Files-Lawsuit-Related-to-Legacy-Holiday-Properties


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