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CareTrust REIT Acquires Two Care Homes in the United Kingdom

1. CareTrust REIT acquired UK care homes for $27 million with long-term leases. 2. The investment aims for stable returns through contractual yields and escalators.

M&A
-1.32%Current Return
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-0.32%S&P 500
$34.7409/24 06:54 AM EDTEvent Start
$34.2809/25 01:40 AM EDTLatest Updated
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FAQ

Why Bullish?

This acquisition expands CareTrust's portfolio and revenue potential, similar to prior expansion successes.

How important is it?

The strategic acquisition could enhance revenue stability and investor confidence in CTRE.

Why Long Term?

The investment is expected to generate stable rental income over many years.

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SAN CLEMENTE, Calif.--(BUSINESS WIRE)--CareTrust REIT, Inc. (NYSE:CTRE) (“CareTrust” or the “Company”) announced today its acquisition of two care homes in the United Kingdom for approximately $27 million. The homes comprise 265 beds serving mostly higher acuity residents and are leased to an existing operator under long-term triple-net leases that include extension options and annual escalators. CareTrust funded the investment using cash on hand, with a stabilized contractual yield on the Comp.

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