Skilled Nursing News June 4, 2024
CareTrust REIT (NYSE: CTRE) on Monday announced two strategic transactions totaling $180 million, five- and eight-facility skilled nursing portfolios both located across the Southeast and Mid-Atlantic.
The larger transaction, which consists of 1,011 beds and 150 assisted living beds, was funded by a $90 million senior mortgage loan and $9 million preferred equity investment, the San Clemente, Calif.-based REIT said in a statement.
An “experienced, regional healthcare real estate owner and operator” took over operations on June 1, according to CareTrust, while YAD Healthcare was involved in the five-SNF transaction.
The $90 million loan is part of a $165 million senior mortgage term loan and is a first priority lien on the borrowers’ ownership interest in the real estate; it...
Today's Sponsors
Today's Sponsor