CareTrust REIT (NYSE: CTRE) announced Wednesday the acquisition of three skilled nursing facilities for approximately $55.6 million across Texas and Missouri. 

The portfolio consists of 210 skilled nursing beds and 24 assisted living units, and will be added to CareTrust’s existing master lease with affiliates of PACS Group, which have been operating the facilities for a third-party landlord. The deal brings the total number of beds under the CareTrust and PACS relationship to over 1,200.

The transaction was funded with cash on hand, the company said in a press release.

Two of the facilities are located in Houston while one is located in Columbia, Mo. The acquisition increases annual rent under the existing master lease by approximately $5 million. Four years following the closing, the tenant will have an option to purchase two of the facilities, CareTrust said.

“We could not be more excited to expand our relationship with the PACS team,” said James Callister, CareTrust’s chief investment officer. “PACS continues to show a determined focus on patient-centered care and on local leadership, and confidence is high that they will continue to deliver best-in-class results for their residents and staff in these buildings.”

Meanwhile, PACS Group’s CFO Derick Apt lauded CareTrust’s role as funding partner.

“CareTrust once again demonstrated why they’re a great capital and transaction partner. We’re thrilled to add these facilities to our CareTrust master lease, and that our local teams at these facilities will be able to continue to provide quality care to their patients and residents for years to come,” Apt said.