CareTrust REIT, Inc. (NYSE:CTRE) ("CareTrust" or the "Company") announced today the recent closing of a series of transactions totaling approximately $437 million.
In two separate transactions closed in late October, the Company acquired 12 skilled nursing facilities and one skilled nursing campus located across the Southeast and Mid-Atlantic. The combined portfolio includes approximately 1,760 licensed skilled nursing beds and assisted living units and are leased to a mix of existing and new operators under long-term, triple-net leases with annual rent escalators and multiple renewal options. Each operator brings deep regional expertise and a strong track record of clinical and financial performance. At closing, CareTrust funded the transactions using cash on hand.
"We're thrilled to announce the closing of these two large transactions, each of which required significant effort, collaboration and resourcefulness and together represent one of our most significant U.S. investments to date," said James Callister, CareTrust's Chief Investment Officer. "These acquisitions highlight our continued confidence in the skilled nursing sector and demonstrate our ability to deploy capital efficiently into high-quality assets leased to best-in-class operating companies."
Joe Callan, Senior Vice President of Investments, added, "The breadth and quality of these portfolios reflect the strong pipeline of opportunities we continue to see across the country. Each transaction showcases our relationship-driven growth strategy and our ability to structure win-win solutions that meet operator and seller needs while maintaining our disciplined underwriting standards."
In addition to these two portfolio transactions, CareTrust also closed two other investments in late October, consisting of one skilled nursing facility and two assisted living communities located in separate markets. Each of these properties is triple-net leased to established regional operators with track records of quality operating performance and strong alignment with the Company's long-term growth strategy. The blended stabilized yield of all investments closed across these four transactions is approximately 8.8%.
The closing of this tranche of transactions brings the Company's annual investment total to approximately $1.6 billion. Dave Sedgwick, CareTrust's Chief Executive Officer, commented, "Following an exceptional 2024 in which we deployed more than $1.5 billion across the skilled nursing and senior housing sectors, and a busy first half of 2025 highlighted by our acquisition of Care REIT and entry into the UK care home market, our momentum has clearly continued in the second half of the year. The closing of this group of transactions underscores the depth of opportunities we're seeing in our core skilled nursing business and our ongoing commitment to the seniors housing sector. With a strong balance sheet and a proven investment platform, we are well-positioned to pursue high-quality, accretive opportunities in both the US and UK."
About CareTrust™
CareTrust REIT, Inc. is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing, seniors housing and other healthcare-related properties. With a portfolio of long-term net-leased properties spanning the United States and United Kingdom, and a growing portfolio of quality operators leasing them, CareTrust is pursuing both external and organic growth opportunities across the US and internationally. More information about CareTrust REIT is available at www.caretrustreit.com.
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CareTrust REIT, Inc.
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