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CareTrust REIT Sells Five Communities in Virginia for $13M

VIRGINIA — CareTrust REIT Inc. (NYSE: CTRE) has sold five seniors housing facilities in Virginia for $13 million.

The facilities total 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 buyer was a regional owner-operator of assisted living and memory care facilities.

“The sale of these five facilities continues our plan to de-risk the portfolio,” says Dave Sedgwick, president and CEO of CareTrust. “We continue to move forward towards selling or re-tenanting the remaining facilities held for sale.”

The post CareTrust REIT Sells Five Communities in Virginia for $13M appeared first on Seniors Housing Business.

Source: Senior Housing Business

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