{"id":5586,"date":"2022-03-24T12:20:52","date_gmt":"2022-03-24T17:20:52","guid":{"rendered":"https:\/\/1reason.com\/re\/caretrust-reit-grows-in-illinois\/5586\/"},"modified":"2022-03-25T07:20:52","modified_gmt":"2022-03-25T12:20:52","slug":"caretrust-reit-grows-in-illinois","status":"publish","type":"post","link":"https:\/\/1reason.com\/re\/caretrust-reit-grows-in-illinois\/5586\/","title":{"rendered":"CareTrust REIT Grows in Illinois"},"content":{"rendered":"
The Imboden Creek Living Center, Gardens, and Villas campus features 95 licensed skilled nursing beds, 46 assisted living units, and five independent living units. The acquisition was a \u201ctack-on\u201d to CareTrust\u2019s existing eight-property master lease with Harrisburg, Illinois-based operator WLC Management Firm, LLC, which will replace the outgoing operator. <\/p>\n

Noting that the acquisition took place on the 5th<\/sup> anniversary of CareTrust\u2019s first transaction with WLC, Dave Sedgwick, CareTrust REIT\u2019s CEO and President, remarked, \u201cScott Stout and the WLC team have consistently surpassed expectations and the relationship we have forged with them over the past 5 years continues to be one of our most meaningful and rewarding.\u201d In elaborating on WLC\u2019s success, Mr. Sedgwick stated that, \u201cScott\u2019s focus on caring for his residents and employees is unmatched. He is a first-class operator and the reputation that he has built within the State of Illinois played an integral part in the seller choosing CareTrust and WLC to continue their legacy.\u201d<\/p>\n

\u201cThe Imboden Creek campus is a special place. It is rare to find a property that is small enough to feel like home with a staff that treats their residents like family, while still offering the full continuum of care,\u201d commented Scott Stout, WLC\u2019s owner and CEO. \u201cWhen CareTrust approached us with the opportunity, we jumped at it. CareTrust\u2019s effort and experience in successfully finding and pursuing properties around our portfolio\u2019s footprint makes growth and the transactional process seamless. As a result, we are able to continue focusing on deploying our resources to our residents and staff,\u201d Mr. Stout added.<\/p>\n

CareTrust\u2019s initial investment in the facility, inclusive of capex commitments and transaction costs, was approximately $13.1 million. With the addition of the Imboden Creek facility, annual cash rent under WLC\u2019s master lease will increase by approximately $1.24 million with annual, CPI-based escalators. The acquisition was funded using CareTrust\u2019s $600 million unsecured revolving credit facility.<\/p>\n

About CareTrust<\/strong>TM<\/strong><\/sup><\/p>\n

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 REIT is pursuing both external and organic growth opportunities across the United States. More information about CareTrust REIT is available at www.caretrustreit.com<\/a>.<\/p>\n

CONTACT:
CareTrust REIT, Inc., (949) 542-3130, ir@caretrustreit.com<\/p>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

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SAN CLEMENTE, Calif., March 03, 2022 (GLOBE NEWSWIRE) — CareTrust REIT, Inc. (NASDAQ:CTRE) announced today that it has acquired a skilled nursing campus in Decatur, Illinois.<\/p>\n<\/div>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":[],"categories":[11],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/5586"}],"collection":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/comments?post=5586"}],"version-history":[{"count":1,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/5586\/revisions"}],"predecessor-version":[{"id":5677,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/posts\/5586\/revisions\/5677"}],"wp:attachment":[{"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/media?parent=5586"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/categories?post=5586"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/1reason.com\/re\/wp-json\/wp\/v2\/tags?post=5586"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}