San Clemente-based CareTrust REIT Inc. announced today it acquired a portfolio of skilled nursing facilities in the Pacific Northwest for about $146 million, including transaction costs.
The portfolio, which was purchased as part of a joint venture, consists of 911 licensed beds across 10 facilities in Idaho, Oregon and Washington.
The joint venture deal was between CareTrust and a large third-party healthcare real estate owner.
CareTrust (NYSE: CTRE) paid $141 million in common equity and preferred equity investments. The investment was funded by cash on hand and a draw from CareTrust’s revolving credit line. The closing brings CareTrust’s annual investment total to about $1.1 billion.
