Business Wire·Sep 15, 2026, 6:30 AM ET

CareTrust REIT Acquires Skilled Nursing Portfolio for $400 Million; Announces $600 Million Reloaded Pipeline

CareTrust REIT announced the acquisition of a 2,622-bed skilled nursing facility portfolio in the southwest for $400 million, effective September 1, 2026.
The portfolio is triple-net leased to an existing operator with long-term terms, annual inflation-based rent escalators, & multiple renewal options.
CareTrust invested approximately $380 million in the deal via a joint venture arrangement funded by cash on hand & proceeds from settled equity forward contracts.
The Company currently holds $439 million in expected net proceeds from unsettled forward equity contracts, $612 million in remaining at-the-market program capacity, & $725 million in revolver availability.
The acquired portfolio is expected to generate a stabilized yield of approximately 8.6%.
The transaction brings CareTrust's third quarter-to-date investment volume to $710 million & the 2026 year-to-date total to $1.9 billion across 24 transactions at a blended stabilized yield of roughly 8.7%.
Following this deal, the Company's investment pipeline stands at approximately $600 million, with half allocated to its senior housing operating portfolio or SHOP platform.
CareTrust aims to surpass its prior full-year capital deployment record with more than a quarter of 2026 remaining.