CareTrust draws on $600 million revolver for acquisition

Chicago, April 2 – CareTrust REIT, Inc. announced that it funded its previously disclosed $211 million acquisition using cash on hand and a draw on CareTrust’s $600 million unsecured revolving credit facility, according to a company notice.

As previously reported, the revolver matures Feb. 8, 2023 and includes two six-month extension options.

The revolver has grid-based pricing of Libor plus 110 basis points to 155 bps and is based on the consolidated leverage ratio.

The acquisition was for 12 properties from an affiliate of BM Eagle Holdings LLC.

Columbia, Md.-based CareTrust is a real estate investment trust primarily engaged in the ownership, acquisition and leasing of health care-related properties.

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