CareTrust REIT Completes Sale of Virginia Senior Housing Facilities

SAN CLEMENTE, Calif.--(BUSINESS WIRE)--CareTrust REIT, Inc. (NYSE:CTRE) announced today that it has completed the sale of five seniors housing facilities in Virginia for a purchase price of $13 million. The facilities sold included, in the aggregate, approximately 240 units. In connection with the completion of the sale, the facilities were removed from the company’s applicable master lease with affiliates of Noble Senior Services. The facilities were sold to a regional owner/operator of assisted living and memory care facilities.

President and CEO, Dave Sedgwick, said, “The sale of these five facilities continues our plan to de-risk the portfolio and I am appreciative of our team’s efforts to facilitate this closing by year end given challenging market circumstances.” With respect to the seniors housing facilities that remain held for sale or re-tenanting, Mr. Sedgwick said, “We continue to move forward towards selling or re-tenanting the remaining facilities held for sale and as with today’s announcement, we will provide updates as definitive progress is made.”

About

CareTrust REIT, Inc. is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing, seniors housing and other healthcare-related properties. With a nationwide portfolio of long-term net-leased properties, and a growing portfolio of quality operators leasing them, CareTrust REIT is pursuing both external and organic growth opportunities across the United States. More information about CareTrust REIT is available at www.caretrustreit.com.