Senior Housing News March 11, 2025
A subsidiary of CareTrust REIT (NYSE: CTRE) is acquiring UK-based Care REIT plc and its 137 care homes in the United Kingdom in a deal representing about $817 million.
Care REIT plc has a portfolio of 137 care homes totaling about 7,500 beds in England, Scotland and Northern Ireland managed by 15 operators.
Under the deal, CareTrust subsidiary CR United Bidco Ltd has agreed to pay 108 pence in cash per ordinary share of Care REIT.
The REIT noted it believes the UK care home market is fragmented and “in the early innings of a demand-supply imbalance driven by an aging population with growing care needs, muted new inventory as construction and borrowing costs remain high, and tight capital availability.”
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