India, Oct. 2 -- CareTrust REIT, Inc. (CTRE) said on Friday that it has inked a deal with LNT Care Developments Holdings Limited, a care home developer and operator, to acquire 45 new care homes for around £1.1 billion.
The transaction is structured with staggered closings, the first of which closed on October 1. This comprised 24 homes, all constructed within the past two years, for approximately £576 million. The investment was funded using a combination of proceeds from the settlement of outstanding forward equity agreements and debt.
The remaining 21 homes will be acquired for around £504 million in 2027.
CTRE was up by 1.06% at $36.29 in the pre-market trade on the New York Stock Exchange.
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