CareTrust invests $45.2M in skilled nursing, senior living facilities

CareTrust acquired a skilled nursing facility and funded a mortgage loan for a skilled nursing, assisted living and independent living campus for a total of $45.2 million, the real estate investment company said in a July 5 release.

On June 30, CareTrust acquired a 99-bed skilled nursing facility for approximately $19.2 million. The location of the facility was not released. It was added to the existing master lease with Links Healthcare Group, which will operate the facility.

That same day, CareTrust funded a first priority mortgage loan to a regional owner of skilled nursing facilities for approximately $26 million. The loan will be used to acquire an 83-bed skilled nursing, 46-unit assisted living and 99-unit independent living campus in Loma Linda, Calif. The skilled nursing and assisted living facilities will be operated by affiliates of the Providence Group, and the independent living facility will be operated by affiliates of Chancellor Health Care.

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