CareTrust REIT (NYSE: CTRE) has acquired a 46-facility skilled nursing and senior housing portfolio for $97 million, the San Clemente, California-based real estate investment trust announced Monday morning. The portfolio is located in the Midwest and is being acquired “in coordination with the bankruptcy and sale of all assets of the debtor/seller,” according to CareTrust’s […]
CareTrust REIT
Sabra Healthcare REIT (Nasdaq: SBRA) has had several quarters in a row of continuing occupancy and rent coverage improvement in all of its primary asset classes, including skilled nursing, distancing themselves from the pandemic, leaders said. Meanwhile, its investment pipeline is seeing more activity in the past months, with primarily deals of one or two […]
Leaders with CareTrust REIT (NYSE: CTRE) added more detail surrounding the company’s latest investments, including the acquisition of 31 skilled nursing facilities in Tennessee and Alabama for $500 million, along with another transaction yet to close for $57 million involving four skilled nursing facilities located in the Northeast. American Health Partners was announced as the […]
With reporting from Amy Stulick CareTrust REIT (NYSE: CTRE) and a joint venture partner have reached an agreement to acquire a portfolio of 31 skilled nursing facilities for approximately $500 million, the company’s largest acquisition to date. San Clemente, California-based CareTrust anticipates that most of the facilities will be operated by existing partners of the […]
CareTrust REIT (NYSE: CTRE) announced Thursday the acquisition of a four-facility, 396-bed skilled nursing portfolio located in the Mid-Atlantic region for approximately $74.7 million. This acquisition includes a skilled nursing and assisted living campus with 47 assisted living units. As part of the acquisition, CareTrust entered into a triple-net master lease with a new operator […]
CareTrust REIT (NYSE: CTRE) has been busy with its investment pipeline this week, announcing $378 million in new investments after June 30, and on top of $268 million in investments during the second quarter. Chief Investment Officer James Callister said competition for skilled nursing acquisitions is high as oncoming improvement and post-COVID performance has resulted […]
CareTrust REIT (NYSE: CTRE) on Monday announced two strategic transactions totaling $180 million, five- and eight-facility skilled nursing portfolios both located across the Southeast and Mid-Atlantic. The larger transaction, which consists of 1,011 beds and 150 assisted living beds, was funded by a $90 million senior mortgage loan and $9 million preferred equity investment, the […]
Despite high interest rates, CareTrust REIT (NYSE: CTRE) is well positioned to invest and gain from the steady flow of attractive investment deals prevalent in the skilled nursing sector today, with executives underlining the company’s access to capital to feed a historic robust phase of growth. “We conservatively established a fortressed balance sheet for times […]
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 […]
CareTrust REIT (NYSE: CTRE) executives disclosed their intention to sell 11 skilled nursing facilities in the Midwest that were classified as held for sale in the second quarter. The announcement was made during the company’s third quarter conference call on Friday, and in the broader context of CareTrust’s proactive portfolio management strategy. Executives indicated that […]
In a recent announcement, Lument, a leading financial services provider, has revealed the successful closure of a $46.3 million refinancing deal on behalf of SanStone Health & Rehabilitation. SanStone is a prominent operator of 18 rehabilitative care communities situated across North Carolina. The multi-million-dollar transaction comprises two loans backed by the U.S. Department of Housing […]
Investments for CareTrust REIT (NYSE: CTRE) proceeded at a steady pace in the second quarter of 2023, and there’s still room for more growth backed by sufficient capital on hand. “We are going into the second half of the year with ample dry powder to continue to grow the business and set up the company […]
AdventHealth completes SNF exit Blueprint facilitated the completion of the sale of the wholly-owned skilled nursing portfolio of AdventHealth, a faith-based, nonprofit health system with headquarters in Altamonte Springs, Florida. The AdventHealth Care Centers portfolio included seven locations with 833 total licensed beds. According to Blueprint, nearly all facilities were 4 and 5-star CMS rated, […]
As the public health emergency expires today – along with crucial waivers for skilled nursing providers – CareTrust REIT (Nasdaq: CTRE) says some of its tenants could potentially be impacted while others see it as a nonevent. CareTrust CEO David Sedgwick said his team continues to watch Medicaid rebasing closely as the PHE era 6.25% […]
CareTrust REIT (NYSE: CTRE) added one skilled nursing facility in Texas and one in Kansas to its portfolio underlining the company’s keenness to expand into new markets. “We are focused on not just adding buildings to existing tenant relationships, but also on identifying and working with operators that are new, or are new to us, […]
Medicaid rebasing efforts are driving dealmaking activity for the skilled nursing sector at the moment, as enhanced federal funding dries up and operators scramble to account for rising costs of care and a floundering workforce. That’s according to executives with CareTrust REIT (NYSE: CTRE). James Callister, chief investment officer , said during the company’s latest […]
In a move long-awaited by skilled nursing providers, President Joe Biden on Monday announced the public health emergency (PHE) will end on May 11 – a month after the current extension expires. The PHE first was declared in 2020 as Covid-19 was first sweeping across the country and was most recently renewed on Jan. 11, […]
Dave Sedgwick is CEO of CareTrust REIT, an owner and investor in more than 150 skilled nursing facilities nationwide. With more than 20 years of experience as a licensed nursing home administrator and several previous leadership roles with The Ensign Group, Sedgwick has a wealth of operating and financial experience when it comes to post-acute […]
The top quotes of 2022 memorably captured some of the biggest skilled nursing issues of the year, from “shocking” payment policies to “colossal” regulatory issues to “transformative” changes. The quotes below not only serve as reminders about what transpired over the last 12 months, but touch on many issues that are still pressing as 2023 […]
CareTrust REIT (NYSE: CTRE) on Monday announced a change in leadership with James Callister stepping into the role as chief investment officer at the end of the year. Current Chief Investment Officer Mark Lamb is stepping down to pursue entrepreneurial opportunities, the company shared in its news release. Callister, who currently serves as executive vice […]
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