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Mission Viejo-based CareTrust REIT Inc. said today that it will spend $12 million to buy three senior housing facilities.
It’s acquiring the properties from Idaho Falls, Idaho-based Cross Healthcare LLC. The facilities are located in Idaho Falls and Pocatello and are 92% occupied.
CareTrust was created this year when nursing home operator Ensign Group Inc., also located in Mission Viejo, spun off its real estate holdings.
The company released news of the buy after markets closed today. CareTrust shares closed up 4% to a market value of $325 million.