CareTrust REIT completed a series of off‑market transactions totaling $628 million, announced on April 27, 2026. The package includes 15 California skilled nursing facilities valued at $380 million, four UK care homes for £42 million, and a Wyoming skilled nursing facility for $20 million, along with related financing.
The acquisitions reinforce CareTrust’s core triple‑net lease model and expand its U.S. skilled nursing portfolio by 15 properties, while the UK and Wyoming additions diversify the company’s geographic footprint and add new revenue streams.
Financing for the deal was sourced from a combination of proceeds from settled equity forward contracts and a draw on the company’s revolving credit facility. Two loans were originated to affiliates of the seller: a $55 million loan at 8.7% for five years and a $108 million interest‑only loan at 9.5%.
Management highlighted the deal’s strategic fit: “With nearly $1 billion already closed this year we are well on our way to another exceptional year,” said CEO Dave Sedgwick. The transaction underscores CareTrust’s disciplined, relationship‑driven approach to sourcing high‑quality operators and its ability to deploy capital efficiently while maintaining a low leverage profile.
The investment package boosts CareTrust’s projected rental income and occupancy profile, supporting future funds from operations growth. The blended stabilized yield of 8.8% on the acquisitions signals attractive returns for investors and aligns with the company’s target yield range.
Investors reacted positively to the announcement, citing the sizable $628 million investment spree, geographic diversification into the UK, a robust $450 million forward‑looking pipeline, and a Moody’s upgrade to investment grade as key drivers.
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