CareTrust REIT acquires SNF
CareTrust REIT has acquired Shamrock Nursing and Rehabilitation Center, a 105-bed skilled nursing facility located in Dublin, GA, for $8.3 million. The company said the purchase provides an initial cash yield of 9.65%, giving revenue of just under $800,000.
In a separate transaction, CareTrust has bought Bristol Court Assisted Living for $8.4 million. The facility has 115 memory care beds and is located in St. Petersburg, FL. There is a going-in cash yield of 8.5%, with initial annual rental revenue of $716,000.
CareTrust entered into a master lease with Trillium Healthcare Group and Better Senior Living Consulting, which took over operations effective July 1.