IRVINE, Calif., Feb. 18, 2014 (GLOBE NEWSWIRE) -- Sabra Health Care REIT, Inc. ("Sabra," the "Company" or "we") (Nasdaq:SBRA) (Nasdaq:SBRAP) announced today the acquisition of six senior housing campuses with a total of 673 beds/units, covering the spectrum of care (292 skilled nursing beds, 213 independent living units and 168 assisted living units). All six facilities are located within approximately 100 miles of Omaha, Nebraska. Concurrently with the purchase, we entered into a triple-net master lease agreement with affiliates of Nye Senior Services, LLC ("Nye"). The lease has an initial term of 10 years with four renewal options of five years each and provides for an annual rent escalator of 3.0% resulting in annual lease revenues, determined in accordance with GAAP, of $8.0 million and an initial yield on cash rent of 7.78%. The purchase price was funded with available cash.
Sabra Acquires Nebraska Senior Housing And Skilled Nursing Portfolio In $90.0 Million Sale/Leaseback Transaction
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