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BRIEF-Care Capital Properties to acquire portfolio of six behavioral health hospitals for $400 million
April 10, 2017 / 9:36 PM / 7 months ago

BRIEF-Care Capital Properties to acquire portfolio of six behavioral health hospitals for $400 million

April 10 (Reuters) - Care Capital Properties Inc:

* Care Capital Properties to acquire portfolio of six behavioral health hospitals for $400 million

* Care Capital Properties Inc - transaction to be immediately accretive

* Care Capital Properties Inc- transaction to be immediately accretive

* Care Capital Properties Inc - ccp expects to fund approximately $380 million at closing and will have an option, exercisable beginning in q4 of 2018

* Care Capital Properties Inc - will lease properties to affiliates of signature on a ten-year triple-net basis, with five renewals of five years each

* Care Capital Properties Inc - company has agreed to provide up to $50 million for capital improvement projects in portfolio over next several years

* Care Capital Properties Inc - ccp expects to purchase one additional building for an amount that is expected to be approximately $20 million

* Care Capital Properties Inc - initial gaap yield on transaction to acquire health hospitals is expected to be approximately 8.7 pct

* Care Capital Properties - transaction will be funded through cash on hand, disposition proceeds and borrowings under company’s revolving credit facility

* Care Capital Properties Inc - based on capitalization, full year gaap accretion is projected to be approximately 13 cents Source text for Eikon: Further company coverage:

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