PACS Group Announces Pending Acquisition Of Operations At 12 Skilled Nursing Facilities In Tennessee, The Facilities Will Be Leased From An Affiliate Of CareTrust REIT
Benzinga Newsdesk 2 years ago
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PACS Group, Inc. (NYSE:PACS) ("PACS" or the "Company") announced today that independent operating subsidiaries of the Company have agreed to acquire the operations of 12 skilled nursing facilities in Tennessee, and
PACS Group, Inc. (NYSE:PACS) ("PACS" or the "Company") announced today that independent operating subsidiaries of the Company have agreed to acquire the operations of 12 skilled nursing facilities in Tennessee, and collectively comprise 1,310 skilled nursing beds.
The facilities will be leased from an affiliate of CareTrust REIT (NYSE:CTRE), pursuant to the terms of a long-term, triple net lease. The lease includes options for us to purchase the real estate on six of the facilities, between years four and seven of the lease.