CareTrust REIT agrees to buy 45 new UK care homes from LNT for GBP 1.1 billion

By Public Technologies
  • CareTrust REIT agreed to acquire 45 newly built UK care homes from LNT Care Developments for about GBP 1.1 billion.
  • First closing on Oct. 1 covered 24 homes for about GBP 576 million, funded by forward equity settlements and a revolver draw.
  • Remaining 21 homes under development targeted for acquisition for about GBP 504 million, with closings rolling through 2027.
  • Assets leased to Crystal Care on triple-net terms during lease-up, with a planned shift to a RIDEA SHOP structure.
  • SHOP Phase expected to start two to four years post-completion, with mid- to high-7% pre-tax year-one yield guidance.


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