CareTrust REIT, Inc. announced today its acquisition of two care homes located in the United Kingdom for approximately $27 million. These new properties comprise 265 beds and are primarily dedicated to serving higher acuity residents. This investment further expands CareTrust's international footprint following its entry into the UK market.
The acquired care homes are leased to an existing operator under long-term triple-net leases. These leases include extension options and annual escalators, providing stable and growing contractual rental income. This strategy aligns with CareTrust's model of partnering with established, high-quality operators.
CareTrust funded this investment using cash on hand, demonstrating its strong liquidity position. The acquisition is expected to provide a stabilized contractual yield on the company's investment. This move underscores CareTrust's commitment to strategic growth and diversification within the healthcare real estate sector.
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