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VIRGINIA — CareTrust REIT (NASDAQ: CTRE) has provided a $15 million secured mezzanine loan to Next Healthcare Inc.
The loan is part of a larger financing package that is funding Next’s acquisition of nine skilled nursing facilities in Virginia totaling approximately 1,000 beds.
The loan caries a five-year maturity and an annual interest rate of 12 percent. The loan was funded with proceeds from CareTrust’s $600 million unsecured revolving credit facility.