CareTrust REIT, Inc. acquired Three Property Skilled Nursing Portfolio in Texas and Missouri for $55.6 million.
March 05, 2024
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CareTrust REIT, Inc. (NYSE:CTRE) acquired Three Property Skilled Nursing Portfolio in Texas and Missouri for $55.6 million on March 6, 2024. The acquisition adds three facilities to CareTrust?s relationship with PACS and increases annual rent under the existing master lease by approximately $5,002,000. The transaction was funded with cash on hand.
CareTrust REIT, Inc. (NYSE:CTRE) completed the acquisition of Three Property Skilled Nursing Portfolio in Texas and Missouri on March 6, 2024.
CareTrust REIT, Inc. is a self-administered, real estate investment trust (REIT). The Company is engaged in the ownership, acquisition, development and leasing of skilled nursing, seniors housing and other healthcare-related properties. It has a portfolio of long-term net-leased properties, and a portfolio of operators leasing them. It owns, directly or through joint ventures, and leased to independent operators, skilled nursing facilities (SNFs), multi-service campuses, assisted living facilities (ALFs) and independent living facilities (ILFs) consisting of approximately 25,848 operational beds and units located in 29 states. It leases healthcare-related properties to healthcare operators in triple-net lease arrangements. It extends secured mortgage loans to healthcare operators, secured by healthcare-related properties and secured mezzanine loans to healthcare operators, secured by membership interests in healthcare-related properties.