The Ensign Group and CareTrust REIT have teamed up to acquire the real estate and operations of two skilled nursing facilities in the Austin, Texas metropolitan area.
CareTrust purchased the facilities for $32.5 million, or about $135,000 per bed, while The Ensign Group recently took over operations effective August 1, 2021 as part of the acquisition. This deal brings Ensign’s growing portfolio to 242 healthcare operations, 22 of which also include senior living operations, across thirteen states.
The facilities are Sedona Trace Health and Wellness Center, a 119-bed skilled nursing facility located in Austin, Texas; and Cedar Pointe Health and Wellness Center, a 122-bed skilled nursing facility located in Cedar Park, Texas. Both facilities were constructed in 2017.
The acquisition was funded using CareTrust’s $600 million unsecured revolving credit facility. CareTrust recently purchased a SNF in California in May for an undisclosed amount.
