CareTrust REIT announces series of transactions totaling $437M

CareTrust REIT (CTRE) announced the recent closing of a series of transactions totaling approximately $437 million. In two separate transactions closed in late October, the Company acquired 12 skilled nursing facilities and one skilled nursing campus located across the Southeast and Mid-Atlantic. The combined portfolio includes approximately 1,760 licensed skilled nursing beds and assisted living units and are leased to a mix of existing and new operators under long-term, triple-net leases with annual rent escalators and multiple renewal options. Each operator brings deep regional expertise and a strong track record of clinical and financial performance. At closing, CareTrust funded the transactions using cash on hand.