June 5, 2017 / 12:11 PM / 2 months ago

BRIEF-Caretrust Reit acquires two nursing facilities for about $27.3 mln

1 Min Read

June 5 (Reuters) - Caretrust Reit Inc

* Caretrust Reit expands into New Mexico with the acquisition of two skilled nursing facilities

* Caretrust Reit Inc - deal for approximately $27.3 million

* Caretrust Reit Inc - funded acquisition with cash on hand

* Caretrust Reit - investment is expected to generate initial cash yield of 9.0%, based on aggregate going-in annual cash rent of $2.5 million under terms of existing leases

* Caretrust Reit - 2 existing leases have remaining terms of about 17, 19 years, respectively, include a hybrid of fixed and cpi-based rent escalators Source text for Eikon: Further company coverage:

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