NHI Provides $2.5M Construction Loan for Assisted Living Facility in Florida

National Health Investors, Inc. NHI announced today it has funded a second mortgage of $2.5 million for the development and construction of Brentwood at Fore Ranch, a 120-bed assisted living and memory care community located in Ocala, Florida. The three-year loan has two one-year extension options and will be fully funded at closing with an annual interest rate of 13%. The total construction budget for the project is $21 million. Construction on the facility is expected to begin this month and be completed in one year. The project is being developed for Fore Ranch Senior Housing, LLC by William Karns Enterprises, Inc., and managed by Senior Management Advisors, Inc.