BROOKVILLE and LIBERTY, Ind. — MedEquities Realty Trust (NYSE: MRT) has agreed to acquire Brookville Healthcare Center in Brookville and Whitewater Commons Senior Living Center in Liberty, both skilled nursing facilities, for $15 million.
The portfolio totals 160 licensed beds. The all-cash transaction is structured as a sale-leaseback, with the seller, Magnolia Health Systems, staying on as operator. The 15-year triple-net lease will start at a rate of 9 percent, with annual escalators.
Brookville Healthcare Center is a freestanding, single-story skilled nursing facility. The facility contains approximately 34,302 square feet and is licensed for 100 beds.
Whitewater Commons Senior Living Center is a freestanding, single-story skilled nursing facility. The facility contains approximately 19,928 square feet and is licensed for 60 beds.