Sabra Buys Properties in Texas, MinnesotaMonday, December 3, 2012
Sabra Health Care REIT Inc., an Irvine-based real estate investor, said Monday that it made two deals.
Sabra said it exercised an option to buy four nursing homes and an assisted living facility in the Dallas-Fort Worth Metroplex and Rockport, Texas, for a net price of $33 million.
The real estate investment trust had given the seller, the Meridian Properties Fund I LP, a $10 million mezzanine loan under which Sabra had the option to buy the properties for $43 million. That loan was repaid upon the deal’s close.
Sabra also said it bought the Camden Care Center, a Minneapolis nursing home, for $7.2 million.