CareTrust REIT Acquires Midwest Skilled Nursing Portfolio For Approximately $97 Million

CareTrust REIT, Inc. has acquired a 46-facility, 3,820-bed/unit skilled nursing and seniors housing portfolio located in the Midwest for a total investment amount of approximately $97 million (inclusive of transaction costs). The acquisition was completed in coordination with the bankruptcy and sale of all assets of the debtor/seller.

Seven of the 46 facilities acquired are skilled nursing and assisted living campuses, and an additional seven are assisted living facilities. In connection with the acquisition, the company entered into a triple-net master lease with a large skilled nursing investor and operator who will sublease the . . .