filecrux
Oct 3, 7:28 PM
$CTRE: CareTrust REIT, a senior-care landlord, agreed to buy 45 new UK care homes from LNT for about £1.08B, about 17% of its
$8.6B market value; 23 closed October 1. First-year rent is about 5.8%, below the 8.8% on its other deals; LNT, the seller, guarantees it. It expects a mid- to high-7% pre-tax return only after paying about £3.5M more per home to run them, first by Q4 2027. It will pay up to about £504M more as 21 unfinished homes are completed and approved, through 2027. 2026 FFO guidance rose to
$2.06-2.09 a share; cash-based FAD rose 1 cent.
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