CareTrust REIT Announces $119 Million of Recent Investments; Reloaded Pipeline

Key Terms

triple-net leased financial

A triple-net leased property is one where the occupier pays the base rent plus most operating costs—typically property taxes, insurance, and routine maintenance—so the owner receives mostly rent without handling those bills. For investors, this setup can provide steadier, lower-overhead income and clearer cash-flow forecasts, while concentrating expense and inflation risk on the occupier; think of it like renting out a car but the renter also pays fuel, insurance and routine repairs.

triple net lease financial

A triple net lease is a rental agreement where the tenant pays the base rent plus three main ongoing costs: property taxes, building insurance, and routine maintenance. For investors, this shifts much of the expense and risk onto the tenant, creating a steadier, more predictable income stream for the property owner—similar to renting a furnished home where the renter also pays the bills—making valuation and cash-flow forecasting simpler.

mortgage loan financial

A mortgage loan is a long-term loan used to buy or refinance real estate, where the property itself serves as the lender’s assurance that the debt will be repaid; if the borrower stops paying, the lender can take the property. It matters to investors because mortgages shape bank and investor income, influence housing prices and consumer spending, and carry credit and interest-rate risk—think of it as a long-term IOU tied directly to a house.

equity forward contracts financial

An equity forward contract is a private agreement to buy or sell a specific number of company shares at a fixed price on a future date, like agreeing today on the price of a house you will buy months from now. It matters to investors because it locks in a price to manage risk or speculate, can change future share supply and demand, and carries counterparty and timing risk that can affect portfolio value and market perceptions.

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DANA POINT, Calif.--(BUSINESS WIRE)-- CareTrust REIT, Inc. (NYSE:CTRE) (“CareTrust” or the “Company”) announced today the closing of two investments totaling approximately $119 million, each effective April 1, 2026.

The Company acquired a senior housing and skilled nursing campus located in Southern California, comprising 120 licensed skilled nursing beds and 273 senior housing units. The campus will be triple-net leased to an existing operator of the Company under a long-term lease with annual inflation-based rent escalators and multiple renewal options, along with a commitment from the Company to provide additional rent-enhancing capital improvement funds of up to $5 million within 18 months of closing.

In a separate transaction, the Company originated a mortgage loan secured by five skilled nursing communities located in the Midwest, comprising approximately 506 licensed beds. The loan was made in connection with the borrower’s acquisition of the facilities, which will be operated under a long-term triple net lease by a management team with which the Company has a long-standing relationship and a track record of strong performance. The terms of the loan include the Company having the option to purchase the facilities in the future subject to the existing master lease remaining in place. Both transactions were funded using proceeds received from settled equity forward contracts.

“We’re pleased to announce a pair of transactions that reflect the real investment we’ve made in cultivating deep relationships throughout the industry,” said James Callister, CareTrust’s Chief Investment Officer. “The Southern California campus is a high-quality asset located a few blocks from the hospital with tons of upside and a well-established operating partner in which we have tremendous confidence. The Midwest portfolio technically introduces a new operator to our portfolio, though it’s a management team we’ve known and respected for a long time. We’re excited to formalize that relationship and put capital to work alongside them, with the opportunity for it to lead to our goal of long-term ownership in the underlying real estate.” Joe Callan, Senior Vice President of Investments, added, “These transactions are a good example of the range of opportunities we’re seeing across the skilled nursing and senior housing sectors. With a healthy deal landscape, we remain focused on deploying capital in a disciplined and collaborative way with best-in-class operators.”

In February, the Company also closed on the acquisition of three care homes in the United Kingdom for approximately $29.4 million net leased to a talented operator in a new relationship for CareTrust. Mr. Callister noted the blended stabilized yield of these three transactions was approximately 8.6%. These transactions combine to bring the Company’s 2026 year-to-date investment total to roughly $364 million at a blended stabilized yield of approximately 8.8%.

Dave Sedgwick, CareTrust’s President and Chief Executive Officer, commented, “We’re off to a strong start in 2026, and these investments are a continuation of the growing momentum we’ve been building across our three growth platforms. Our balance sheet remains in excellent shape, and we continue to see a robust set of opportunities ahead.” Mr. Sedgwick noted that after these recent deals the Company’s reloaded investment pipeline stands at $500 million of near-term, actionable opportunities, and that this figure does not include larger portfolio transactions or other investment opportunities the Company may currently be evaluating. “The breadth and quality of what we're seeing across all three platforms gives us great confidence in our ability to continue compounding value for our shareholders in the years ahead.”

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. 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/20260406782281/en/

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

Source: CareTrust REIT, Inc.