Caretrust Reit Acquires 13 Skilled Nursing Facilities In Tennessee For $176m 

SAN CLEMENTE, California — CareTrust REIT has acquired 13 skilled nursing facilities in Tennessee for $176 million, as the second phase of a portfolio transaction in the state. California-based CareTrust purchased the properties through a joint venture arrangement with a third-party healthcare real estate owner. 

Each of the 13 facilities will be operated by existing CareTrust tenants under new, long-term master lease agreements. Affiliates of the Ensign Group will operate six of the facilities, with affiliates of Links Healthcare Group operating the remaining seven. 

The portfolio transaction totals $421 million and involves 27 facilities. 

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