National Health Investors is a real estate investment trust that invests in income-producing healthcare properties, primarily in the long-term care industry. As of December 31, 2000, the Company had ownership interests in real estate, mortgage investments and REMIC investments. As of December 31, 2000, the Company had approximately $630.7 million in real estate and mortgage investments in 198 healthcare facilities located in 26 states consisting of 143 long-term care facilities, one acute care hospital, eight medical office buildings, 22 assisted living facilities, seven retirement centers and 17 residential projects for the developmentally disabled. These investments consist of approximately $316.3 million aggregate principal amount of loans to 26 borrowers and $278.0 million of purchase leaseback agreements with 10 lessees and $36.4 million invested in REMIC pass-through certificates. Of these 198 facilities, 47 are leased to or operated by National HealthCare Corporation.