This covers all news, acquisitions, financings and strategies involving the REIT, Care Trust REIT, in regard to seniors housing and care M&A.
CareTrust REIT headed to Fargo, North Dakota for its latest acquisition, adding a 110-bed skilled nursing facility to its portfolio for a purchase price of approximately $4.75 million, or $43,200 per bed, inclusive of transaction costs. There is also an estimated cap rate of about 13.25%. The facility was previously operated by HCR ManorCare and […]
CareTrust REIT bought a California senior care campus and brought on a new tenant in its latest transaction. Formerly owned by the Catholic not-for-profit Our Lady of Fatima, the Saratoga campus consists of 85 skilled nursing beds and 37 assisted living units, with both components well occupied. It sold for $19.0 million (which includes transaction […]
There’s no such thing as a summer lull for Lancaster Pollard, which recently announced the closing of $400 million in bridge financing for 27 skilled nursing facilities located throughout California. The borrower was a large skilled nursing operator based in California, Plum Healthcare, that previously had a corporate term loan credit facility on the portfolio. […]
CareTrust REIT is on a tear this year, having acquired 33 senior care properties since the start of 2017 and bringing its portfolio to 184 total properties. In all of this activity, CareTrust has also not been limited to a specific geography, making acquisitions in 10 states across the country. Despite being headquartered in San […]
When CareTrust REIT announced a spate of deals at the beginning of this month, on top of an already busy year, one deal in particular stood out, mainly for the fact that it did not involve a skilled nursing facility. With a couple of exceptions when the REIT purchased a few memory care communities in […]
CareTrust REIT is heading closer and closer to the 200-facility mark, currently sitting at 181 properties in 23 states, as it continues to purchase senior care facilities across the country. Just last month, the REIT bought 13 skilled nursing facilities in Washington, Texas and Idaho, all formerly operated by affiliates of Kindred Healthcare. Now, CareTrust […]
The start of September saw a large number of skilled nursing acquisitions announced, mostly at lower prices, with the exception of CareTrust REIT’s purchase of seven SNFs in Idaho for $65.5 million, or $114,700 per bed. Another deal, facilitated by Ben Firestone and Michael Segal of Blueprint Healthcare Real Estate Advisors, didn’t feature a price […]
CareTrust REIT clearly didn’t get that “Labor Day” is supposed to be a day of relaxation, not of, well, labor. Until the start of September, CareTrust had only announced four transactions, compared with the 13 announced in all of 2016. But the REIT ended summer with a bang, announcing three acquisitions comprising 13 total skilled […]
Prelude Homes & Services has proven to be the gateway to the Minnesota senior living market for CareTrust REIT, which just exercised its option to purchase a second stand-alone memory care community in the Minneapolis-area from Prelude. Three years ago, CareTrust entered the state when it bought Prelude’s three-year old, 28-unit MC community in Woodbury […]
Public companies have made a statement so far in June, with a couple of REITs, one publicly traded operator and two foreign firms announcing acquisitions this week. First, across our border, Ontario-based Sienna Senior Living added one more Ontario retirement community to its portfolio. The 70-unit community in the town of Kingston sold for approximately […]