CareTrust REIT announced the closing of approximately $628 million in investments across multiple transactions, significantly expanding its skilled nursing and care home portfolio in the United States and the United Kingdom.
The largest component of the investment involved the acquisition of 15 skilled nursing facilities in California for approximately $380 million, comprising around 1,700 beds. The portfolio was acquired through a sale-leaseback transaction and leased to affiliates of the seller under a long-term triple-net lease with annual rent escalators and future purchase options.
In conjunction with the transaction, CareTrust also originated two loans to the seller’s affiliates, including a $55 million fully amortizing loan and a $108 million interest-only loan, both secured by skilled nursing facility portfolios in California and Washington.
The company also expanded internationally with the acquisition of four care homes in the United Kingdom for approximately £42 million, totaling 202 beds focused on high-acuity mental health and specialist care services. A fifth property valued at approximately £9 million is expected to close following regulatory approvals. These assets are leased under long-term agreements with inflation-linked rent escalators.
Additional investments include the acquisition of a 124-bed skilled nursing facility in Wyoming for approximately $20 million, as well as an amendment and expansion of an existing loan secured by senior housing and skilled nursing assets in Oregon.
The transactions were funded through a combination of equity proceeds and borrowings under the company’s revolving credit facility and carry a blended stabilized yield of approximately 8.8%.
Including these deals, CareTrust has completed nearly $990 million in investments year-to-date in 2026, spanning more than a dozen transactions. The company also reported a near-term investment pipeline of approximately $450 million in additional opportunities.
Separately, Moody’s assigned CareTrust and its senior unsecured notes an investment-grade rating of Baa3 with a stable outlook, citing the company’s conservative financial policies and improved diversification.
CareTrust continues to pursue growth across skilled nursing, UK care homes, and senior housing, leveraging long-term lease structures and partnerships with experienced operators to drive portfolio expansion and shareholder value.
KEY QUOTES:
“This group of transactions reflects the disciplined, relationship-driven approach that continues to underpin our exciting growth. The centerpiece is a high-quality California skilled nursing portfolio acquired in sale-leaseback format with a seasoned operating team. The creative structuring, together with meeting the seller’s expedited timing demands, are testament to the team’s work ethic and the Company’s commitment to collaboratively solving the parties’ transaction goals. The additional investments, spanning our skilled nursing and UK care home growth engines, demonstrate the breadth and quality of the opportunity set we continue to see across every corner of our business.”
James Callister, Chief Investment Officer, CareTrust REIT
“The brisk pace and variety of the deal flow we’re seeing right now is a direct product of the deep relationships our team has cultivated over many years. From large off-market sale-leasebacks to targeted loan investments that strengthen existing partnerships to bread-and-butter type single asset acquisitions, our platform is sourcing high-quality, actionable transactions across every one of our growth engines.”
Joe Callan, Senior Vice President Of Investments, CareTrust REIT
“With nearly $1 billion already closed this year we are well on our way to another exceptional year. After these recent deals, our investment pipeline stands at approximately $450 million of near-term, actionable opportunities, a figure that excludes larger portfolio transactions we continue to evaluate. Powered by talented teammates throughout CareTrust, a massive opportunity set across skilled nursing, UK care homes and our budding senior housing operating portfolio, and the balance sheet to match the growth, our investment flywheel keeps turning, and we remain as disciplined and focused as ever on compounding long-term value for our shareholders.”
Dave Sedgwick, Chief Executive Officer, CareTrust REIT
