This covers all news, acquisitions, financings and strategies involving the REIT, Care Trust REIT, in regard to seniors housing and care M&A.
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 […]
When the Big Three healthcare REITs (Ventas, HCP and Welltower) largely divested their skilled nursing portfolios in the past few years, it prompted questions about the industry’s health. The exodus was kicked off in August 2015 by Ventas, which spun out most its skilled nursing/post-acute care portfolio into a separate REIT, Care Capital Properties (which […]
Since its spin-off from The Ensign Group in June 2014, CareTrust REIT has been one of the most active buyers in both seniors housing and skilled nursing M&A markets. It has grown from its initial portfolio of 96 properties to 158 net-leased healthcare properties and three operated seniors housing properties in 21 states. The acquisitions […]
CareTrust REIT just doubled down on its Wisconsin senior care strategy. Almost a year after acquiring an assisted living community in West Allis, Wisconsin from Priority Life Care (and then leasing it back), CareTrust is acquiring two more memory care communities in the Milwaukee MSA for approximately $26.1 million, or $296,591 per unit. The communities were […]
The Ensign Group acquired the underlying real estate of a portfolio of 15 Wisconsin assisted living communities nearly a year and a half after taking over the operations under a lease. Formerly owned by Harmony Living Center, LLC, these communities feature a total of 687 units and a combined occupancy of 83%. Ensign financed the purchase […]
CareTrust REIT picked up a portfolio of skilled nursing facilities in the Dallas-Fort Worth area, adding a new tenant relationship in the process. Priority Management Group will take over operations, under a master lease agreement with CareTrust, at four recently built (or recently renovated) skilled nursing facilities that total 540 skilled nursing beds and 28 […]
Boise, Idaho-based Cascadia Healthcare, a regional provider of transitional/skilled nursing care, just expanded its relationship with one of the more active buyers in 2016, CareTrust REIT. A few months after Cascadia sold (and then leased back) its 98-bed skilled nursing facility in Boise to CareTrust for $8.9 million, or $90,816 per bed, the provider broke […]