CareTrust REIT Acquires U.K. Senior Care REIT in $817M Deal
Care REIT currently holds 7,500 senior housing beds across 137 facilities in England, Scotland and Northern Ireland
Commercial Observer | By Brian Pascus
A top U.S. health care real estate investment trust (REIT) is advancing into the United Kingdom after it acquired another REIT specializing in senior housing and care complexes.
Los Angeles-based CareTrust REIT purchased U.K.-based Care REIT on Tuesday in a $817 million acquisition. The deal values Care REIT’s stock at $577 million — a 33 percent premium on the $25.81 share price Care REIT closed at on Monday afternoon — and includes a debt assumption of $240 million.