Gary B. Sabin to Retire as Independent Director of CareTrust REIT, Inc., Effective August 1, 2016
May 16, 2016 at 05:30 pm EDT
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CareTrust REIT, Inc. announced that independent director Gary B. Sabin will retire from its board of directors effective August 1, 2016. Mr. Sabin has accepted a voluntary assignment as a General Authority Seventy, a senior leadership position within The Church of Jesus Christ of Latter-day Saints. The full-time service position will preclude his further board service.
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.