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San Clemente-based CareTrust REIT Inc. said today it bought four senior housing properties in Michigan.
CareTrust owns and invests in healthcare-related real estate. It was created in 2014 when Mission Viejo-based nursing home operator Ensign Group Inc. spun off its real estate holdings.
The company said in a release that it leased the four properties, located in the Michigan communities of Clarkston, Goodrich, Burton and Lapeer, to New York-based Premier Senior Living LLC. CareTrust leases six of its properties to Premier.
Shares of CareTrust were down 1% to a market value of $772 million in early afternoon trading.