CareTrust REIT Acquires Skilled Nursing Portfolio for $400 Million; Announces $600 Million Reloaded Pipeline

CareTrust REIT expands its skilled nursing footprint with a $400 million deal and reports a $600 million near-term investment pipeline.

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DANA POINT, Calif.--(BUSINESS WIRE)-- CareTrust REIT, Inc. (NYSE:CTRE) (“CareTrust” or the “Company”) announced today the acquisition of a large portfolio of skilled nursing facilities located in the southwest for a purchase price of $400 million, effective September 1, 2026.

The portfolio comprises 2,622 licensed skilled nursing beds and is triple-net leased to the existing operator under a long-term lease with annual inflation-based rent escalators and multiple renewal options. The facilities sit in markets where both the Company and the operator have established scale and deep operating history.

The opportunity was sourced off-market and was completed through a joint venture arrangement in which CareTrust invested approximately $380 million. The Company’s reputation for creative collaboration and ability to deliver certainty of close were influential in securing the transaction. The acquisition was funded using cash on hand and proceeds from the settlement of equity forward contracts. As of today, the Company has $439 million of expected net proceeds from unsettled forward equity contracts, $612 million of remaining capacity under its at-the-market program, and $725 million of availability under its revolver.

“This is exactly the kind of meaningful transaction we've built our platform to facilitate: a large, high-quality portfolio in core markets, an off-market process, and with an operator we know well and have tremendous confidence in,” said Joe Callan, Senior Vice President of Investments. James Callister, CareTrust's Chief Investment Officer, went on to state, “This one is right down the middle of the fairway for us and took careful execution at every stage from inception to closing. As we continue to grow across all three of our growth engines, activity in skilled nursing remains robust, and this transaction is a great example of why we remain so constructive on the space.” Mr. Callister noted the Company expects the portfolio to generate a stabilized yield of approximately 8.6%.

With this transaction, the Company has closed approximately $710 million of investments in the third quarter-to-date, which also includes a small care home acquisition in the United Kingdom in mid-August. The Company’s 2026 year-to-date investment total now stands at $1.9 billion across two dozen transactions at a blended stabilized yield of approximately 8.7%.

Dave Sedgwick, CareTrust's President and Chief Executive Officer, commented, “A few years ago, a transaction of this size and nature would have been the headline of our year. We've spent the last several years building the capacity to execute on several deals of this size annually, on top of the singles and doubles we love closing. I'm proud of the team for stepping up to build a platform for continued growth, which pushes us past our prior full-year record for capital deployment with more than a quarter of the year still to play. All three of our growth engines are firing, our balance sheet is in excellent shape, and we intend to finish the year strong.” Mr. Sedgwick noted that following this transaction, the Company's investment pipeline stands at approximately $600 million of near-term, actionable opportunities, roughly half of which would sit in the Company's senior housing operating portfolio or SHOP platform. “Today’s pipeline figure does not include a number of promising larger portfolio transactions we are actively pursuing. We are equally excited about finishing 2026 strong and the set up for 2027.”

About CareTrust^TM

CareTrust REIT, Inc. is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing, senior housing and other healthcare-related properties. With a portfolio of long-term net-leased properties spanning the United States and United Kingdom, and a growing portfolio of quality operators leasing them, CareTrust is pursuing both external and organic growth opportunities across the US and internationally. More information about CareTrust REIT is available at www.caretrustreit.com.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical statements of fact and statements regarding the Company’s intent, belief or expectations, including, but not limited to, statements regarding the following: future financial and financing plans; strategies related to the Company’s business and its portfolio, including acquisition and investment opportunities; growth prospects; operating and financial performance; stabilized yields; pipeline figures; and the performance of the Company’s tenants, operators and borrowers. The Company’s forward-looking statements are based on management’s current expectations and beliefs, and are subject to a number of risks and uncertainties that could lead to actual results differing materially from those projected, forecasted or expected that include, but are not limited to: (i) the ability of the Company’s tenants, managers, and borrowers to successfully operate its properties and to meet and/or perform their obligations under the agreements the Company has entered into with them, including without limitation, their respective obligations to indemnify, defend and hold the Company harmless from and against various claims, litigation and liabilities; (ii) the impact of unstable market and economic conditions; (iii) the impact of healthcare reform legislation, including reimbursement rates and potential minimum staffing level requirements, on the operating results and financial conditions of the Company’s tenants, managers, and borrowers; (iv) the consequences of bankruptcy, insolvency or financial deterioration of the Company’s tenants, managers and borrowers; (v) the ability and willingness of the Company’s tenants, managers and borrowers to renew their agreements with the Company, and the Company’s ability to reposition its properties on the same or better terms in the event of nonrenewal or in the event the Company replaces an existing tenant or manager; (vi) the risk that the Company may have to incur impairment charges related to any asset sales if it is unable to sell such assets at the prices we expect; (vii) the impact of public health crises; (viii) the availability of and the ability to identify (a) tenants and managers who meet the Company’s credit and operating standards, and (b) suitable acquisition opportunities and the ability to acquire and lease the respective properties to such tenants and managers on favorable terms; (ix) the intended benefits of the Company’s acquisition of Care REIT plc (“Care REIT”) may not be realized, and the additional risks the Company will be subject to from its investment in Care REIT and any other international investments; (x) the additional operational and legal risks associated with the Company’s properties managed in a RIDEA structure; (xi) the impact of the unfavorable resolution of litigation or disputes and rising liability and insurance costs as a result thereof or other market factors; (xii) the ability to retain key management personnel; (xiii) the ability to maintain status as a real estate investment trust (“REIT”); (xiv) changes in the U.S. and U.K. tax law and other state, federal or local laws, whether or not specific to REITs; (xv) the ability to generate sufficient cash flows to service the Company’s outstanding indebtedness; (xvi) access to debt and equity capital markets; (xvii) fluctuating interest and currency rates; (xviii) risks and challenges related to use of, or inability to use, artificial intelligence; and (xix) any additional factors included under Item 1A “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 and its Quarterly Report on Form 10-Q for the quarter ended June 30, 2026, as such risk factors may be amended, supplemented or superseded from time to time by other reports the Company files with the Securities and Exchange Commission (the “SEC”). The Company expressly disclaims any obligation to update or revise any information in this press release, including forward-looking statements, whether to reflect any change in the Company’s expectations, any change in events, conditions or circumstances, or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260915412980/en/

IR Contact

CareTrust REIT, Inc.
(949) 542-3130
ir@caretrustreit.com

Source: CareTrust REIT, Inc.

Key Terms

triple-net lease financial

A triple-net lease is a rental agreement where the tenant pays the base rent plus the property's operating expenses—typically taxes, insurance, and maintenance—so the landlord receives mostly a steady, predictable cash payment. For investors, it matters because it can act like a low-maintenance, bond-like income stream with clearer expense exposure, but returns depend on the tenant’s financial strength and long-term ability to cover those extra costs.

joint venture financial

A joint venture is when two or more companies team up to work on a specific project or business idea, sharing both the risks and the rewards. It’s like friends starting a lemonade stand together—each contributes resources and they split the profits, making it easier to succeed than going alone.

at-the-market program financial

An at-the-market program is a way for a company to sell new shares of its stock gradually over time directly into the stock market, rather than all at once. This approach allows the company to raise money as needed while giving investors the opportunity to buy shares at current market prices. It helps manage the timing and price of new stock offerings, providing flexibility for both the company and investors.

revolver financial

A revolver is a revolving credit facility — a line of borrowing a company can draw, repay and draw again as needed, similar to a corporate credit card for short-term cash needs. It matters to investors because it provides liquidity and flexibility to cover expenses, smooth cash flow swings, or bridge financing gaps; the size, cost and covenants of the revolver affect a company’s interest costs, financial health and default risk.