CareTRUST REIT buys nine SNFs

CareTrust REIT Inc. has acquired nine skilled nursing facilities in Iowa for around $32.7 million.

The portfolio of 518 skilled nursing beds will be leased to Trillium Healthcare Group LLC. The acquisition was effective Feb. 1.

The initial annual revenue will be around $3.16 million to CareTrust under the terms of the master lease, which has an initial term of 14.5 years with two five-year renewal options and CPI-based rent escalators.

CareTrust also announced it had bought a 30-unit assisted living and memory care facility in San Angelo, TX.