CareTrust REIT, Inc. (NYSE:CTRE) announces that it has purchased three continuing care retirement communities (CCRCs) located in Los Angeles, Orange, and San Diego counties. The multi-service senior living campuses include 475 assisted living, skilled nursing, and memory care beds/units. All three facilities will be operated by Bayshire Senior Communities, an existing CareTrust tenant based in Southern California. CareTrust acquired Torrey Pines Senior Living, a CCRC located in San Diego, California, for a total investment amount of approximately $32.3 million (inclusive of transaction costs). Acquisition of the other two CCRCs was completed through a joint venture arrangement entered into between CareTrust and a third-party regional healthcare real estate investor.
Read the full article: CareTrust REIT Invests $60M in Acquisition of Three Southern California Continuing Care Retirement Communities //
Source: https://www.businesswire.com/news/home/20240402714302/en/CareTrust-REIT-Invests-60-Million-in-Acquisition-of-Three-Southern-California-Continuing-Care-Retirement-Communities