CareTrust REIT buys $400 million portfolio
- CareTrust REIT acquired a southwest skilled nursing facility portfolio for $400 million.
- The portfolio includes 2,622 licensed skilled nursing beds under a long-term triple-net lease.
- The acquisition brings CareTrust’s 2026 year-to-date investments to $1.9 billion.
CareTrust REIT (NYSE:CTRE) acquired a portfolio of skilled nursing facilities in the southwest for $400 million, adding 2,622 licensed beds to its healthcare real estate portfolio.
The transaction was completed effective September 1, 2026, through a joint venture arrangement where CareTrust invested approximately $380 million, with the facilities leased to the existing operator under a long-term agreement.
The portfolio includes annual inflation-based rent escalators, multiple renewal options, and is expected by the company to generate a stabilized yield of approximately 8.6%, while funding came from cash on hand and proceeds from equity forward contract settlements.
CareTrust said the acquisition contributed to approximately $710 million of investments completed during the third quarter to date and increased its 2026 year-to-date investment total to $1.9 billion.
CareTrust REIT invests in healthcare properties, including skilled nursing facilities and other senior care assets leased to healthcare operators.
The company’s portfolio expansion strategy includes acquisitions, joint ventures, and partnerships across healthcare real estate markets in the United States and internationally.
