National Health Investors has entered into a development and lease transaction with affiliates of the Polaris Hospital Company to grant $21.5m to develop a 60-bed general acute care hospital in Tennessee, US.

The new speciality hospital will provide acute psychiatric and in-patient rehabilitation services.

Construction of the hospital is expected to start this month, and is scheduled to come online in the Q4, 2012.

During construction, the lease rate will be 10% on NHI’s cumulative invested amount and once the facility is open, the lease rate will be calculated on NHI’s total invested amount with lease escalators beginning in the second year.


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