CareTrust Buys 15 Communities in Ohio for $173M

by Jeff Shaw

CINCINNATI and DAYTON, Ohio — CBRE Group Inc. has arranged the sale of 15 skilled nursing, assisted living and independent living facilities in Cincinnati and Dayton for $173 million.

California-based investor CareTrust REIT Inc., which spun off from The Ensign Group last year, purchased the properties from Liberty Healthcare.

The properties are mostly skilled nursing facilities, comprising more than 1,200 licensed beds. According to CBRE, this transaction marks the initial entry into Ohio for both CareTrust and Pristine Senior Living, which will operate the portfolio.

Seniors housing specialist Dan Baker, in cooperation with Ohio-based healthcare specialist Bill Wiebe, both of CBRE, represented the seller in the deal.

CBRE (NYSE: CBG) is one of the world’s largest commercial real estate investment firms.

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