Skilled Nursing News October 30, 2024
Leaders with CareTrust REIT (NYSE: CTRE) added more detail surrounding the company’s latest investments, including the acquisition of 31 skilled nursing facilities in Tennessee and Alabama for $500 million, along with another transaction yet to close for $57 million involving four skilled nursing facilities located in the Northeast.
American Health Partners was announced as the seller for the 31-SNF deal, divesting its American Health Communities and Rehab America divisions to CareTrust and a leading privately-held real estate investment firm. This makes American Health Partners more of a pure-play insurer with its remaining business lines.
There’s a tradeoff between investment volume and deal structure in recent years, said CareTrust CEO David Sedgwick during the REIT’s Q3 earnings call on Wednesday. While...
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