SAN CLEMENTE, Calif. — CareTrust REIT Inc. (NASDAQ: CTRE), a San Clemente-based REIT focused on seniors housing and healthcare assets, has partnered with two operators that are new to the company.
Trio Healthcare Inc. and Hillstone Healthcare Inc. will now operate nine skilled nursing and assisted living facilities in Ohio. Pristine Senior Living previously operated the communities, but CareTrust was seeking a more diverse roster of management companies.
Trio took over operations in the seven facilities based primarily in the Dayton area, while Hillstone assumed the operation of the two facilities in Willard and Toledo. Both companies now work under a 15-year master lease with CareTrust.
Pristine previously relinquished operations at seven CareTrust facilities in the Cincinnati area to another CareTrust tenant, Trillium Healthcare Inc., which has been operating those facilities since Dec. 1, 2017.