CareTrust REIT Closes Acquisition of Care REIT plc, Enters UK Market
Summary
The transaction, first announced on March 11, 2025, marks CareTrust’s entrance into the UK market and represents a strategic step in the Company’s mission to expand and diversify its portfolio of healthcare real estate assets. With the completion of this transaction, CareTrust adds to its portfolio 132 care homes comprising approximately 7,500 beds and two healthcare facilities leased to the UK’s National Health Service, located throughout England, Scotland, and Northern Ireland. “We are thrilled to close on the acquisition of Care REIT, marking our first M&A deal, our first international investment, and the single largest transaction in our history,” said Dave Sedgwick, President and Chief Executive Officer of CareTrust. He noted that the 2025 guidance is based on diluted weighted-average common shares outstanding of 190.6 million and assumes the following: • All investments and dispositions made to date; • No new debt incurrences or new equity issuances; and “We are excited by the near- and long-term growth potential the Care REIT transaction unlocks, and we believe it positions us to deliver compounding value to stakeholders over time,” said Bill Wagner, Chief Financial Officer. Mr. Wagner noted that the Company intends to pay off the assumed debt and recapitalize the portfolio through a combination of cash on hand, a draw from its revolving credit facility, and a new $500 million unsecured term loan expected to be finalized in the second quarter, subject to ordinary closing conditions.