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CareTrust REIT Announces Approximately $628 Million of Investments

CTRE
  • CareTrust REIT closed approximately $628 million in investments in mid-April, funded via equity forward contracts & a revolving credit facility draw.
  • The Company acquired 15 skilled nursing facilities in California for ~$380 million, comprising ~1,700 beds, leased back to the seller under a triple-net lease with purchase options starting in year nine.
  • Simultaneous with the California acquisition, CareTrust originated two loans to the seller's affiliates: a $55 million fully amortized loan at 8.7% & a $108 million interest-only loan at 9.5% due within one year.
  • CareTrust purchased four UK care homes for ~£42 million (202 beds) specializing in mental health & specialist care, with a fifth home for ~£9 million pending regulatory approvals.
  • The UK properties are triple-net leased to a new tenant with long-term agreements featuring annual inflation-based rent escalators.
  • The Company acquired one Wyoming skilled nursing facility with 124 beds for ~$20 million, leased to an existing operator under a long-term lease with renewal options.
  • CareTrust originated an additional $7.5 million on an existing two-property loan, secured by a third Oregon property with senior housing & skilled nursing beds.
  • The recent investment group carries a blended stabilized yield of 8.8%.
  • Year-to-date 2026 investment totals reach ~$990 million across 12+ transactions at a blended stabilized yield of 8.8%.
  • The Company's investment pipeline stands at ~$450 million of near-term actionable opportunities, excluding larger portfolio deals under evaluation.
  • Moody's Ratings assigned CareTrust & its senior unsecured notes a Baa3 investment grade rating with a stable outlook, citing conservative financial policies & improved diversification.