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California  + Orange County  + Healthcare  | 
Zuum doubled its office footprint at Irivine Towers following $22 million of fundraising

Sabra Health Care REIT Completes $7.4B Merger with Care Capital Properties

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Irvine, CA-based Sabra Health Care REIT Inc. and Chicago-based Care Capital Properties Inc. completed an all-stock $7.4 billion merger that creates a 564-property portfolio of skilled nursing and senior housing facilities. Each outstanding share of Care Capital common stock is converted into 1.123 shares of Sabra common stock.

There was some investor backlash to the deal, since Sabra’s portfolio will have greater exposure to skilled nursing facilities, increasing from 57% to 73%. Recently, REITs have moved to reduce exposure to that class of asset resulting from reimbursement model changes.

Sabra’s Rick Matros says, “With our enhanced financial strength and access to capital, we expect to continue to diversify our portfolio by tenant and facility type. Further, we expect the merger’s significant cash flow accretion will provide the potential for a meaningful near-term dividend increase and enhance value for our shareholders.”

The transaction is expected to generate annual cost savings of roughly $20 million.

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

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