CareTrust REIT expands into UK with acquisition of two care homes for $27M

[Caregiver with senior woman looking through window]
Morsa Images/DigitalVision via Getty Images

CareTrust REIT (NYSE:CTRE [https://seekingalpha.com/symbol/CTRE]) has announced the acquisition of two care homes [https://seekingalpha.com/pr/20242330-caretrust-reit-acquires-two-care-homes-in-the-united-kingdom] in the United Kingdom for approximately $27 million.

The two acquired care homes, with a combined total of 265 beds, primarily serve residents with higher-acuity needs.

CareTrust has leased both properties to a current operator through long-term triple-net leases that include annual escalators and options for extension.

CareTrust used its existing cash to fund the $27 million investment. The deal's contractual yield is consistent with the returns from the company's previous investments.

Looking forward, CareTrust's Chief Investment Officer, James Callister, stated that the company will continue to explore additional acquisition opportunities in both the U.S. and the U.K.

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