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CareTrust REIT acquires Southern California assisted living facility in JV investment
Transactions - JANUARY 9, 2024

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CareTrust REIT acquires Southern California assisted living facility in JV investment

by RELEASED

CareTrust REIT announced that it has acquired The Villas at San Bernardino, a 78-unit assisted living and memory care facility located in San Bernardino, Calif.

In connection with its acquisition of the facility, CareTrust and a third-party regional healthcare real estate investor entered into a joint venture arrangement under which CareTrust provided a combined common equity and preferred equity investment amount totaling $10.7 million. CareTrust is the managing member of the joint venture entity. CareTrust’s initial contractual yield on its combined preferred and common equity investments in the joint venture is approximately 9.3 percent.

The facility will be operated by Oxford Health Group, a new operator relationship for CareTrust. Oxford is a midsize California seniors housing operator that focuses on strategically integrating healthcare services into its communities, allowing higher-acuity residents to further age in the community setting. Oxford and the joint

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