SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange
Act of 1934
Date of Report (Date of earliest event reported):
Not Applicable
NATIONAL HEALTH INVESTORS, INC.
(Exact name of registrant as specified in its charter)
Maryland 33-41863 62-1470956
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(State or other (Commission (I.R.S. Employer
jurisdiction of File Number) Identification
incorporation) Number)
100 Vine Street, Suite 1400, City Center, Murfreesboro, Tennessee 37130
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(Address of principal executive offices)
(615) 890-9100
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(Registrant's telephone number, including area code)
Not Applicable
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(Former name, former address and former fiscal year,
if changed since last report)
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Exhibit Index on Page 3
Item 5. Other Events.
On November 5, 1999 the Company disclosed that Lenox Healthcare, Inc.
and its affiliates, two of which are either debtors or lessees of NHI, have
filed for Chapter 11 Bankruptcy protection in the United States
Bankruptcy/District Court in Wilmington, Delaware. A copy of the press
release is attached hereto as Exhibit 99.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
NATIONAL HEALTH INVESTORS, INC.
By: /s/ Richard F. LaRoche, Jr.
Name: Richard F. LaRoche, Jr.
Title: Vice President
Date: November 8, 1999
Exhibit Index
Exhibit No.
99. Press Release dated November 5, 1999.
National Health Investors, Inc. Discloses Customer Restructuring
National Health Investors, Inc. (NYSE-NHI) was informed Thursday,
November 4, 1999, that Lenox Healthcare, Inc. and its affiliates have filed
for Chapter 11 Bankruptcy protection in the United States Bankruptcy/District
Court in Wilmington, Delaware. The court filing indicates that two NHI loans
may be impacted. The first is a $25,400,000 first mortgage loan on ten
licensed nursing homes in Kansas and Missouri. Based on NHI's initial review,
it appears that the $25,400,000 first mortgage loan will not be adversely
impacted in the bankruptcy. This loan is in full compliance with its
financial covenants and is current on all principal and interest payments.
The second project is Lenox Healthcare, Inc.'s lease of a 96 bed skilled
nursing facility in St. Petersburg, Florida. NHI is advised that Lenox
intends to abandon the lease. The first mortgage loan on this property of
approximately $4,450,000 is now two months in arrears and with the abandonment
of the lease, NHI will immediately institute proceedings to take physical
possession of the property. The company is evaluating its position to
determine whether any write-down may be required in addition to present
reserves.
Although not impacted by the bankruptcy filing, Mr. Tom Clarke, the
owner of Lenox Healthcare, Inc. is involved as a principal in other entities
financed by NHI. At the present time NHI knows of no reason to assume that
these entities will be negatively impacted by the Lenox filing or that any
loss of income or asset value will occur.
National Health Investors, Inc. specializes in the financing of health
care real estate by first mortgage and by purchase and leaseback transactions.
The common and preferred stocks of the company trade on the New York Exchange
with the symbols NHI and NHIPr respectively.
Statements in this press release that are not historical facts are
forward-looking statements. NHC cautions investors that any forward-looking
statements made involve risks and uncertainties and are not guarantees of
future performance. All forward-looking statements represent NHI's judgement
as of the date of this release.
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