“We’re elated to expand our relationship with the Eduro team. Eduro has proven over the past few years that their model of patient centered care and extreme focus on facility culture produces great results for their residents and staff and we’re confident that they will take Ennis Care Center to new heights over the coming months and years,” explained Dave Sedgwick, CareTrust’s CEO and President.
Michael Bewsey, Eduro’s Managing Partner commented “Eduro is excited to not only add Ennis Care Center to our relationship with CareTrust, but we are also excited by the extension of our master lease by four additional years, which allows us to reset the clock on our relationship, as we continue to implement the growth and execution plans we have set for our company.”
With the 4-year extension of the initial term, the CareTrust master lease with Eduro has a remaining initial term of approximately 12 years, with two five-year renewal options, and CPI-based annual rent escalators. The acquisition was funded using cash on hand.
About CareTrust™
CareTrust REIT, Inc.is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing, seniors housing and other healthcare-related properties. With a nationwide portfolio of long-term net-leased properties, and a growing portfolio of quality operators leasing them,CareTrust REITis pursuing both external and organic growth opportunities acrossthe United States. More information aboutCareTrust REITis available atwww.caretrustreit.com.
AboutEduro Healthcare
Eduro Healthcare LLCis aUtah-based national skilled nursing company with 26 facilities in 10 states. Eduro puts a primary emphasis on patient care, driven by four core values: Wellness, Compassion, Experience and Results. More information aboutEduro Healthcareis available atwww.edurohc.com.
CONTACT:
CareTrust REIT, Inc., (949) 542-3130, ir@caretrustreit.com
