Sabra REIT acquires nine senior living facilities for $84.7M
In two separate transactions, Sabra Health Care REIT has acquired nine more senior housing properties in Illinois, Washington and Oregon for $84.7 million.
In Illinois, Sabra bought five primarily memory care facilities (149 units) from Life's Journey Senior Living for $19.7 million. Sabra bought four additional facilities in Washington and Oregon (196 assisted living units and 18 independent living units) for $65 million from Radiant Senior Living.
"These acquisitions represent new markets for Sabra and align us with two new operating partners: Radiant Senior Living and Life's Journey Senior Living," Rick Matros, CEO and Chairman of Sabra said in a press release. "In both cases, we have been working for some time to find properties with these operators that make sense. It represents the time that our team invests in developing relationships with operators. Some opportunities occur quickly, others may take several years but we take pride in being patient and nurturing relationships with operators we want to grow with."
Megan Combs was Associate Editor of I Advance Senior Care / Long Term Living from 2013-2018.
Topics: Facility management , Housing , Operations