Newly formed Ikaria Capital Group is formalizing an arrangement with CareTrust REIT to provide capital to the seniors housing and nursing home sector. The Ikaria team, which is led by White Oak Healthcare Partners alums Jason Dopoulos and Ken Gould, has worked with CareTrust on several debt transactions since 2022, and this marks a continuation of that relationship. The Ikaria team will also continue to provide debt origination, underwriting, and asset management services.
CareTrust’s investment priority will still be on acquiring real estate through accretive transactions but will look to add to its debt investments, which can offer attractive yields. The REIT closed approximately $1.5 billion of investments in 2024, several of which resulted from its relationship with Ikaria’s principals, and it hopes to deploy around $500 million of new capital to opportunities coming from the Ikaria team over the next several years.
