CareTrust REIT has acquired two care homes in the United Kingdom for about $27 million.
The homes comprise 265 beds serving mostly higher acuity residents and are leased to an existing operator under long-term, triple-net leases that include extension options and annual escalators. CareTrust funded the investment using cash on hand, with a stabilized contractual yield on the company’s investment in line with prior investment activity.
“We are pleased to announce our first follow-on investment in the U.K. since the acquisition of Care REIT earlier this year,” said James Callister, CareTrust’s CIO. “This acquisition is a strong addition to our portfolio and further evidence that our pipeline in the United Kingdom continues to expand. We’re excited to keep growing our presence there alongside experienced operators.”
Martin Robb, senior vice president of investments, added, “The U.K. care home market continues to present compelling opportunities for
