In a bid to maintain operational strength for years to come, CareTrust REIT Inc. (CTRE) made some bold moves during the first quarter, including a $856 million strategic acquisition of U.K.-based Care REIT. CEO and President Dave Sedgwick cited the deal as an example of his company’s desire to seize a window of opportunity to […]
Blueprint facilitated the sale of Project United, a clustered portfolio made up of five skilled nursing facilities and two assisted living communities in the greater Cleveland, Ohio area. Meanwhile, Berkadia arranged a $15 million HUD loan for a California-based client, including for new additions to a 99-bed SNF in Washington. Seven-asset portfolio with 5 SNFs […]
Larger nursing home chains have been selective in making acquisitions amid an abundance of facilities for sale. However, now seems to be a good time for growth, as several industry players announced on Wednesday the acquisition of nursing homes and other long-term care assets. Ensign and CareTrust partnered in a transaction involving a California-based campus […]
PACS Group (NYSE: PACS) leaders are facing a shareholder lawsuit tied to an alleged scheme to submit false Medicare claims. Five PACS executives, including CEO Jason Murray and CFO Derick Apt, are named as defendants in the now-consolidated federal securities fraud class action lawsuit. According to the complaint filed on March 21, these PACS executives […]
Greystone provided $29.9 million in bridge financing for the acquisition of a six-facility portfolio in Rhode Island. Meanwhile, a 300-bed New York nursing home received $25 million in financing from MONTICELLOAM. Greystone Provides $29.9M in Bridge Financing for Six Facilities Greystone provided $29.9 million in bridge financing for the acquisition of a six-facility skilled nursing […]
CareTrust REIT (NYSE: CTRE) executives said Thursday that they have no plans to slow down dealmaking in 2025, noting that the fundamentals for skilled nursing remain strong. They anticipate no major disruptions from potential Medicaid or Medicare changes under the new administration, high interest rates, and exposure to PACS Group (NYSE: PACS) holdings. “Financial markets, […]
Average occupancy for the nursing home sector grew slightly to 80.5% towards year-end, posting a 10-basis-point increase month over month. Over the course of last year, occupancy levels showed a recovery back to pre-pandemic levels. Moreover, according to Stephens Inc.’s latest figures updated through Dec. 1 and released Wednesday, average occupancy for two large sector […]
Indiana-based Majestic Care added six properties in Ohio to its portfolio. Meanwhile, Ensign announced its part in a recent acquisition of Alabama and Tennessee properties formerly operated by American Health Communities and Rehab America. Majestic Care Adds Six Nursing Homes in Ohio Indiana-based Majestic Management added six long-term care facilities to its portfolio effective Dec. […]
Despite the sector continuing to grapple with staffing shortages, rising operational costs, and regulatory uncertainty, emerging trends have skilled nursing leaders gearing up for a positive 2025, with fewer challenges and more opportunities on the horizon. As we look ahead, several key trends are expected to shape the sector from regulatory shifts to financial turbulence, […]
The “flywheel is racing” for CareTrust REIT (NYSE: CTRE), CEO David Sedgwick said in announcing a renewed and doubled unsecured revolving credit facility at $1.2 billion. The San Clemente, Calif.-based real estate investment trust is on pace to close on approximately $1.5 billion of investments this year, almost seven times its annual average, Sedgwick said […]
The PACS Group closed on a 11-facility skilled nursing portfolio in Tennessee for an undisclosed amount, while CFG closed out five deals totaling $54 million in the last two months. PACS Group Closes on Tennessee Portfolio Sale The PACS Group (NYSE: PACS) on Dec. 1 closed on the operations of 11 skilled nursing facilities in […]
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 […]
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 […]
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