San Clemente-based CareTrust REIT Acquires Two Skilled Nursing Facilities

CareTrust REIT Inc. based in San Clemente, announced the acquisition of two skilled nursing facilities on opposite sides of the country in separate transactions. The total investment was $62.1 million for 259 combined licensed beds.

In the mid-Atlantic region, it acquired a 125-bed licensed skilled nursing facility on August 29 for $37.7 million. Its acquisition on the West Coast for a 134-bed skilled nursing facility closed on August 7 for $24.5 million. The investments were funded using cash on hand.

“We are excited to add two additional, solidly-performing facilities to our portfolio,” said James Callister, CareTrust’s chief investment officer, in a statement.