Dana Point-based CareTrust REIT Inc. today announced a $400 million acquisition of skilled nursing facilities with 2,622 licensed beds in the Southwest.
The deal brings CareTrust’s year-to-date investments to $1.9 billion across 24 transactions, with $600 million left in its pipeline.
“Today’s pipeline figure does not include a number of promising larger portfolio transactions we are actively pursuing,” Chief Executive Dave Sedgwick said in a statement.
Shares in CareTrust rose 1.6% to $38.74 apiece and a $9.2 billion market cap (NYSE: CTRE).
