With PACS as Partner, CareTrust Acquires 3 Skilled Nursing Facilities in Texas, Missouri for $55M

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 […]

On Path to Ramp Up Future Acquisitions, CareTrust Aims to Sell 11 Midwest Skilled Nursing Facilities 

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 […]

Lument Closes $46M Refinance Deal with SanStone; CareTrust Completes JV with La Fuente

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 […]

AdventHealth Completes Exit from SNF Business; 1,000+ Bed Portfolio Trades 

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, […]

CareTrust CEO: Medicaid Rebasing in Some States May Be ‘Too Little Too Late’ for SNFs

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 […]

The Hot Seat: David Sedgwick, President & CEO, CareTrust REIT

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 Quotes That Defined Skilled Nursing in 2022 — and Hint at What’s Ahead

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 Names Callister New Chief Investment Officer as Lamb to Step Down

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 […]

REIT Moves Drive a Reordering of the Skilled Nursing Operator Landscape

Skilled nursing operators should anticipate further distress in the coming months and into 2023, which will likely result in even greater divides among providers. The winners and losers already are being sorted, as the latest round of real estate investment trust (REIT) earnings made clear. And unsurprisingly, strong regional operators are leading the pack. Welltower […]

CareTrust Funds $24.9M SNF Portfolio; ESI Arranges Nursing Home Sale in Indiana

CareTrust REIT Inc. (NYSE: CTRE) funded a $24.9 million B-piece secured financing on a four-facility portfolio in the Southeast. The portfolio includes about 700 skilled nursing beds, according to CareTrust. “This loan begins a new relationship with this new Southeast operator,” CEO Dave Sedgwick said in a statement. “The operator has done a tremendous job […]

Eduro Acquires 7 Texas SNFs; White Oak Structures Financing for 5 Nursing Homes

Utah-based skilled nursing company Eduro Healthcare recently acquired seven facilities in the San Antonio, Texas area, bringing the total count in the state to 15. Eduro first entered the Texas market in April 2021, and has seen success as operational and delivery of care changes are implemented, according to a news release. “Having worked in […]

CareTrust CEO: Rising Rates Could Moderate SNF Pricing, Tip the Scales to REITs For Future Growth

The impacts of inflation, rising interest rates, mounting indications of a recession and a tight labor market are presenting both challenges and opportunities as CareTrust REIT (NYSE: CTRE) continues to advance its plans to de-risk a portion of its portfolio. “Since we announced plans in February to de-risk the portfolio, the world has changed quite […]

‘Related Company’ Investments Lead to Nursing Home Profit but Raise Questions About Care Quality

An estimated 72% of New York’s 394 for-profit nursing homes do business with companies that have common or overlapping ownership, a recent report from the Empire Center for Public Policy reveals. The report showed that payments from for-profit nursing homes to these related companies totaled almost $1.1 billion, or 16% of their total expense for […]

White Oak and CareTrust Partner in $582M, 18 Nursing Home Deal

A portfolio of 17 existing skilled nursing facilities in West Virginia changed hands this week in a $582 million deal involving a joint venture between a skilled nursing real estate owner and a large regional operator of post-acute facilities. Ohio-based CommuniCare Health Services took over operations of Stonerise, expanding the company’s reach in its home […]