CareTrust REIT Expands Mid-Atlantic Portfolio with $74.7M Skilled Nursing Acquisition, Strengthens Operator Ties
Portfolio Pulse from Benzinga Newsdesk
CareTrust REIT, Inc. (NYSE:CTRE) has acquired a 4-facility skilled nursing portfolio in the Mid-Atlantic for $74.7 million, enhancing its operator relationships. The acquisition was funded with cash on hand, and the company is actively pursuing further investments.
October 03, 2024 | 9:12 am
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CareTrust REIT has acquired a skilled nursing portfolio for $74.7M, funded with cash on hand. This acquisition strengthens its operator relationships and positions the company for further growth.
The acquisition of a skilled nursing portfolio for $74.7M is a significant expansion for CareTrust REIT, indicating growth and strengthening of operator relationships. The use of cash on hand for funding and the establishment of a new operator relationship with a 15-year lease term suggest a positive outlook for the company's future performance.
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