CareTrust REIT Expands In California’s Central Valley

CareTrust REIT, Inc. announced that it has acquired two highly sought-after health care facilities in California’s Central Valley in a pair of off-market transactions. CareTrust leased both assets to Kalesta Healthcare, LLC, an existing CareTrust tenant whose principals have a history of successful post-acute care operations in the region. Kalesta took over operations on October 1, 2019.

The two properties include Central Valley Post Acute, a 70-bed skilled nursing facility in Modesto, California, and Saint Claire’s Nursing Center and Saint Francis Senior Residence, a 99-bed skilled nursing and 72-unit assisted living campus . . .