Skilled Nursing News December 9, 2024
CareTrust REIT (NYSE: CTRE) has acquired a 46-facility skilled nursing and senior housing portfolio for $97 million, the San Clemente, California-based real estate investment trust announced Monday morning.
The portfolio is located in the Midwest and is being acquired “in coordination with the bankruptcy and sale of all assets of the debtor/seller,” according to CareTrust’s press release on the deal, which did not identify the seller by name.
A skilled nursing investor and operator, also unnamed in the release, is entering into a triple-net master lease agreement with CareTrust on the portfolio and will sublease the properties to “several” licensed subtenant operators.
“This transaction commences a new relationship with a skilled nursing investor and operator we are very excited...
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