CareTrust REIT Acquires The Villas At San Bernardino, A 78-Unit Assisted Living And Memory Care Facility In San Bernardino, California
Portfolio Pulse from Benzinga Newsdesk
CareTrust REIT has acquired The Villas at San Bernardino, a 78-unit assisted living and memory care facility in California. CareTrust entered into a joint venture with a third-party investor, contributing $10.7 million in common and preferred equity, funded by cash on hand.
January 09, 2024 | 11:04 am
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CareTrust REIT has acquired a new property, The Villas at San Bernardino, and invested $10.7 million in a joint venture for this acquisition.
The acquisition of The Villas at San Bernardino by CareTrust REIT is a strategic expansion of its healthcare real estate portfolio. The investment of $10.7 million in a joint venture indicates a significant commitment to this property. This move is likely to be viewed positively by investors as it demonstrates growth and may lead to increased revenue streams. However, the impact on the stock price will depend on investor perception of the acquisition's value and the effectiveness of the joint venture.
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