CareTrust Buys 4 Nursing Facilities in Mid-Atlantic for $74.7M

Acquisition Details - CareTrust REIT, Inc. (CTRE) acquired four skilled nursing facilities in the Mid-Atlantic for $74.7 million, funded with cash on hand [1] - One facility includes a skilled nursing and assisted living campus with 47 assisted living units [1] Lease Agreement - A triple-net master lease was established with a new operator known for expertise in skilled nursing facilities, featuring an initial term of 15 years and two optional five-year extensions [2] - The first-year contractual lease yield is 9.3%, including transaction costs, with annual Consumer Price Index-based escalators [2] Financing Structure - The purchase of one facility was arranged as a mortgage loan from CareTrust to the operator, aligning terms and economics with the master lease [3] Investment Pipeline - CareTrust's updated investment pipeline stands at $240 million in near-term actionable opportunities, excluding larger portfolios under review [4] - Year-to-date investments exceed $900 million [4] Growth Strategy - CareTrust's inorganic growth strategy and solid financial position support its investment pursuits, with the latest expansion expected to enhance top-line growth [5] - Over the past six months, shares have gained 24.9%, outperforming the industry growth of 16.5% [5]