Sabra Health Care REIT Closes $290m Loan Tranche
Sabra Health Care REIT, headquartered in Irvine, CA, has closed on two investments and completed the transition of three facilities to affiliates of The Ensign Group.
The REIT closed on the $290-million first tranche of a $325-million mortgage loan. When fully funded, the loan will be secured by eight inpatient addiction treatment centers operated by Recovery Centers of America Holdings in the Northeast and Midwest.
Earlier this month, Sabra completed a sale-leaseback of a 113-unit senior housing property in Jasper, IN, paying $26.3 million to acquire the property from Legacy Living. It also completed the transition of three skilled nursing facilities, previously leased to two separate operators, to affiliates of The Ensign Group, Inc. under a triple-net master lease.
“Each of these transactions demonstrates the creativity that Sabra brings to complex transactions, allowing unique solutions to be crafted to solve the needs of the parties,” said CIO Talya Nevo-Hacohen.
Pictured: Recovery Centers of America location in Indianapolis. Photo courtesy of Recovery Centers of America.
- ◦Sale/Acquisition
- ◦Financing