Sabra Loans Money, Buys Nursing HomeMonday, July 1, 2013
Irvine-based Sabra Health Care REIT Inc. said today that it loaned $12.4 million to a Baltimore-based company in a deal that includes an option to buy up to $50 million of property within the company’s portfolio.
Sabra, a real estate investor, made its loan to an affiliate of Chai Facilities Acquisition Co., LLC, which is the indirect owner of 12 nursing homes in seven states with 1,689 licensed beds.
Chai’s operating team now runs two nursing homes that Sabra owns in Texas.
Separately, Sabra said that it bought Greenfield of Woodstock, a 32-unit assisted living facility in Woodstock, Va., for $6.2 million. The property is leased to Falls Church, Va.-based Greenfield Senior Living Inc.