CareTrust REIT Expands with $500M Acquisition Deal

CareTrust REIT ( (CTRE) ) just unveiled an update.

CareTrust REIT, in collaboration with a joint venture partner, is set to acquire a portfolio of 31 skilled nursing facilities in Tennessee and Alabama for approximately $500 million, aiming to close the deal by the end of 2024. This strategic acquisition expands their presence with existing tenant relationships, including The Ensign Group, PACS Group, and Links Healthcare Group, while introducing a new regional operator. The investment is part of a broader $700 million pipeline, positioning CareTrust for significant growth in 2025.

See more data about CTRE stock on TipRanks’ Stock Analysis page.