Tue. 2 Apr 2024, 6:11am ET
Benzinga
M&A, News
CareTrust acquired Torrey Pines Senior Living, a CCRC located in San Diego, California, for a total investment amount of approximately $32.3 million (inclusive of transaction costs). The Torrey Pines facility has been added to CareTrust's existing master lease with Bayshire. Annual cash rent for the first year is approximately $2.6 million, increasing to approximately $3.0 million in the second year with CPI-based annual escalators thereafter.