National Health Investors Expects More Than 90% Collection This Month – Business Daily News
National Health Investors has already raised 88.4% of its contractual cash due for July, the real estate fund said in a business update on Monday.
The REIT expects a collection rate of more than 90% by the end of the month; 1.7% relates to amounts expected to be recovered and 0.6% to lower projected income from real estate that was converted before the start of the pandemic. The remainder of the balance is from 5.5% of the Bickford Senior Living related accruals; 2.2% of deferrals related to vacation retirement; and 1.6% of deferrals, either agreed or outstanding, based on two tenants.
Occupancy continues to rise at the three largest operators of senior housing at the NHI: Bickford, Holiday and Senior Living Communities.
“We are pleased that the overall occupancy increases across the portfolio are increasing through June and that collections continue to improve this month with the expected collection rate of over 90%. We are making progress in optimizing relationships with our larger operational partners and look forward to sharing more details over the next few months, ”said Eric Mendelsohn, President and CEO of NHI, in a press release.
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