Sabra Health Care REIT Inc. (SBRA), a real estate investment trust (REIT), recently acquired a 48-unit memory care facility in Aurora in the Denver Metropolitan area in Colorado. The facility was acquired from an affiliate of New Dawn Holding Company for $16.0 million. The transaction was funded with available cash. <\/p>\n
In addition to the deal, Sabra Health Care also entered into a triple-net lease agreement with the affiliates of New Dawn, under which the tenant will pay all taxes, insurance, and maintenance for the property, in addition to rent. The 10-year lease includes a fixed annual rent escalation of 3.0% and two five-year renewal options. Sabra Health Care was also granted a right of first refusal for the acquisition of a new memory care facility being built in Sun City West, Arizona. <\/p>\n
The strategic move is aimed to extend its presence in the senior housing memory care segment. The acquired facility provides high quality services and targets a population which has a demand for newly developed technologies. The company's strategy of diversifying its portfolio is backed by a dedicated management team. During the six months ended June 30, 2012, the company acquired six skilled nursing facilities for $55.6 million. <\/p>\n
Sabra Health Care currently retains a Zacks #3 Rank, which translates into a short-term Hold rating. We also have a long-term Neutral recommendation on the stock. One of its competitors, Health Care REIT, Inc. (HCN) also holds a Zacks #3 Rank. <\/p>\n<\/p>\n
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Sabra Health Care Acquires Asset - Analyst Blog<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Sabra Health Care REIT Inc. (SBRA), a real estate investment trust (REIT), recently acquired a 48-unit memory care facility in Aurora in the Denver Metropolitan area in Colorado. The facility was acquired from an affiliate of New Dawn Holding Company for $16.0 million Continue reading