Market Overview

CareTrust REIT Buys A Skilled Nursing Facility In Idaho For $12.8M

Share:

CareTrust REIT (NASDAQ: CTRE) will acquire Cascadia of Nampa, a rehabilitation facility located in Nampa, Idaho, for $12.8 million.

The initial annual cash rent will be approximately $1.45 million. The acquisition was funded using cash on hand.

The facility will be added to CareTrust’s existing lease with Idaho-based Cascadia Healthcare, LLC, bringing the total facility count to 12 facilities with 1,013 licensed beds.

“Cascadia of Nampa is a purpose-built post-acute facility that will be a fixture in the Nampa healthcare community for years to come, and we are excited to watch Cascadia expand their patient-focused care model throughout the Treasure Valley,” said Mark Lamb, CareTrust CIO.

CareTrust REIT traded down 2.2% at $23.26 Monday morning.

Related Links:

Brookfield Infrastructure To Buy Genesee & Wyoming In $8.4B Deal

Applied Materials Will Acquire Kokusai Electric For $2.2B

Posted-In: M&A News REIT Real Estate

 

Related Articles (CTRE)

View Comments and Join the Discussion!
Fastest Market News Application
You'll Hear It First On Pro
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

Oil Higher Ahead Of This Week's OPEC Meeting

A Look At U.S. Cannabis Usage