Sabra Sells 38 Senior Care Centers Properties For $385 Million

Sabra Health Care REIT (Sabra) recently announced it is selling its Senior Care Centers for $385 million. The transaction will involve the sale of two senior living communities and 36 skilled nursing communities.

The deal—expected to close early in 2019—comes in the wake of Sabra having to issue notices of default and lease termination due to nonpayment of rent during the third quarter. The closing centers cited cuts to reimbursement and payments from private insurers as a reason for the closures, in addition to growing debt and rent payments.

Sabra Health is a real estate investment trust that . . .