Sabra Health Care REIT, headquartered in Irvine, CA, has closed on two investments and completed the transition of three facilities to affiliates of The Ensign Group.
The REIT closed on the $290-million first tranche of a $325-million mortgage loan. When fully funded, the loan will be secured by eight inpatient addiction treatment centers operated by Recovery Centers of America Holdings in the Northeast and Midwest.
Earlier this month, Sabra completed a sale-leaseback of a 113-unit senior housing property in Jasper, IN, paying $26.3 million to acquire the property from Legacy Living. It also completed the transition of three skilled nursing facilities, previously leased to two separate operators, to affiliates of The Ensign Group, Inc. under a triple-net master lease.
“Each of these transactions demonstrates the creativity that Sabra brings to complex transactions, allowing unique solutions to be crafted to solve the needs of the parties,” said CIO Talya Nevo-Hacohen.
Pictured: Recovery Centers of America location in Indianapolis. Photo courtesy of Recovery Centers of America.
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces.
Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications.
Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).