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MedEquities Realty Trust Acquires Skilled Nursing Facility For $10M

Published 06/16/2017, 08:44 AM
© Reuters.  MedEquities Realty Trust Acquires Skilled Nursing Facility For $10M
MRT
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  • MedEquities Realty Trust (NYSE:MRT) acquires the real property comprising Woodlake at Tolland Nursing & Rehabilitation Center, approx. 65K sq. ft., a skilled nursing facility licensed for 130 beds, from a wholly owned subsidiary of Prospect Medical Holdings for an aggregate cash purchase price of $10M.
  • The acquired property will be lease to Prospect ECHN Eldercare Services pursuant to a 12-year triple-net lease at an initial lease rate of 9.0% with annual escalators.
  • Prospect Medical Holdings and Prospect ECHN will provide a guaranty for the lease.
  • The transaction is expected to close within 60 days, subject to closing conditions and Connecticut regulatory approval.
  • Now read: I Tried To Buy This 7.87% Yield And Failed


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