CareTrust REIT Acquires Skilled Nursing Facility in Iowa for $5M

by Jeff Shaw

CEDAR FALLS, Iowa — CareTrust REIT Inc. (NASDAQ: CTRE) has acquired Cedar Falls Health Care Center, an 82-bed skilled nursing facility in Cedar Falls, for $5 million.

CareTrust will lease the community to a subsidiary of Trillium Healthcare Group LLC on a triple-net basis.

The purchase price includes estimated transaction costs. Initial annual rental revenue to CareTrust is approximately $483,000, and the master lease carries a remaining term of 14.5 years with two five-year renewal options and CPI-based rent escalators.

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