NHI Extends Lease To National Healthcare Corporation Through 2026

  NHI Extends Lease To National Healthcare Corporation Through 2026

    NHC to Purchase Six Older Skilled Nursing Facilities in Twelve Months

Business Wire

MURFREESBORO, Tenn. -- December 28, 2012

National Health Investors, Inc. (NYSE:NHI) announced today the extension of a
master lease with National Healthcare Corporation (NHC) through December 31,
2026, for 38 skilled nursing facilities and 3 independent living facilities.
Additionally, NHC agreed to a $21 million purchase price for six older skilled
nursing facilities from the existing portfolio.

Rent revenue from NHC is $33.7 million per year, plus an additional percentage
of revenue growth over a base year. Effective January 1, 2014, NHC's annual
base rent will decrease by $2.95 million.

“This new agreement with our largest customer strengthens NHI’s relationship
with one of the nation’s most experienced and financially sound healthcare
operators,” said Justin Hutchens, NHI’s President and CEO. “The 2026
expiration provides long-term stability while the sale of the six older
facilities enhances NHI’s portfolio by reducing SNF concentration.”

About National Health Investors

National Health Investors, Inc. (NYSE: NHI) is a healthcare real estate
investment trust specializing in financing healthcare real estate by purchase
and leaseback transactions, RIDEA transactions and by mortgage loans. NHI’s
investments include independent living, assisted living, senior living
campuses, skilled nursing facilities, medical office buildings, and hospitals.
Find additional information about NHI at www.nhireit.com.

Statements in this press release that are not historical facts are
forward-looking statements. NHI cautions investors that any forward-looking
statements may involve risks and uncertainties and are not guarantees of
future performance. All forward-looking statements represent NHI's judgment as
of the date of this release. 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, including the risk factors and
other information disclosed in NHI’s Annual Report on Form 10-K for the most
recently ended fiscal year. Copies of these filings are available at no cost
on the SEC's web site at http://www.sec.gov or on NHI’s web site at
http://www.nhireit.com.

Contact:

National Health Investors, Inc.
Roger R. Hopkins, Chief Accounting Officer, 615-890-9100