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IRVINE, Calif. — Sabra Health Care REIT Inc. (NASDAQ: SBRA) has completed the sale of two skilled nursing facilities located in Montana.
Genesis Healthcare operates both communities. An undisclosed buyer paid $14.4 million for the properties, and also took on $14.2 million in HUD-insured mortgage debt associated with the properties.
As a result of this disposition, the total annual rental obligation from Genesis to Irvine-based Sabra will decrease by approximately $1.1 million.