The Ensign Group, Inc. announced the completion of its previously reported acquisition of nine skilled nursing facilities in Tennessee and Alabama. Six of these operations are jointly owned by CareTrust REIT, Inc. and a joint venture investor, subject to a new long-term triple net master lease with Ensign affiliated operating companies, effective January 1, 2025.
The remaining three operations were purchased by Standard Bearer Healthcare REIT, Inc., Ensign’s captive real estate subsidiary, effective December 31, 2024. All nine facilities are now operated by Ensign affiliated operating companies, ensuring consistent management under Ensign's model.
This acquisition significantly expands Ensign's presence in Tennessee and establishes its first footprint in Alabama, bringing the company's growing portfolio to 333 healthcare operations across 15 states. Ensign subsidiaries, including Standard Bearer, now own 129 real estate assets, reinforcing the company's integrated growth strategy.
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