Care Capital Properties (CCP) has acquired six Behavioral Health Facilities through a share lease back arrangement from Signature Healthcare Services LLC. The $400 million dollar deal will also include an investment of $50 Million for Property Improvements and expansions. Care Capital will then lease the properties Care Capitalwill then lease them back to Signature Healthcare for ten year triple net terms.
“We are extremely pleased to announce this investment in a best‐in‐class portfolio of purposebuilt behavioral real estate with a leading operator in the space. We are excited to establish a new relationship with Signature, which has an outstanding track record as a behavioral health care provider,”
CCP Chief Executive Officer Raymond J. Lewis said. “This accretive transaction will enable us to efficiently recycle capital from our dispositions and diversify our portfolio into a new industry sector with a strategic operator, favorable investment attributes and strong cash flows”
Care Capital Properties currently owns 345 properties in Skilled Nursing, Specialty Hospitals and Senior Housing which are operated by 38 private operators. The facilities are located in 36 states through out the United States. Capital Care has a Credit rating of BB+ from Standard and Poor.
For additional information please visit the Care Capital Properties website
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