CareTrust REIT Acquires Two Memory Care Facilities with Experienced Operator
Portfolio Pulse from Benzinga Newsdesk
CareTrust REIT, Inc. (NYSE:CTRE) has acquired a 105-unit, two-facility memory care portfolio in Ohio and Michigan for approximately $21.1 million. The acquisition was funded using proceeds from the company's $600 million unsecured revolving credit facility.
June 02, 2023 | 11:02 am
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CareTrust REIT acquires two memory care facilities for $21.1 million, expanding its portfolio and increasing its annual base rent.
The acquisition of the two memory care facilities directly impacts CareTrust REIT as it expands their portfolio and increases their annual base rent. This could lead to increased revenues and potential growth for the company, making it likely that the stock price will go up in the short term.
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