India, Sept. 15 -- CareTrust REIT, Inc. (CTRE), a healthcare real estate investment trust, on Tuesday announced the acquisition of a portfolio of skilled nursing facilities in the Southwest for $400 million.
The transaction was completed through a joint venture, with the company investing approximately $380 million.
The company said that the portfolio comprises 2,622 licensed skilled nursing beds and is triple-net leased to the existing operator under a long-term lease.
The company also mentioned that the acquisition was funded using cash on hand and proceeds from the settlement of equity forward contracts.
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The company expects the portfolio to generate...