Search
 

Sabra, CCP Complete $7.4B Merger

Care Capital Properties' former CEO and two of the company's directors are joining an expanded Sabra Health Care REIT board post-merger.

By Paul Bubny | paulbubny | Updated on August 17, 2017

Exterior of retirement home Langdon Place, an Exeter, NH assisted living community in the Sabra Health Care REIT portfolio.

IRVINE, CA—Sabra Health Care REIT (SBRA) and Care Capital Properties Inc. (CCP) said Thursday they had completed their $7.4-billion merger, first announced this past May. Shareholders in both REITs approved the transaction earlier this week. The combined company will be led by current Sabra CEO Rick Matros from its Irvine, CA headquarters and will continue trading under the SBRA ticker on Nasdaq.

“With our enhanced financial strength and access to capital, we expect to continue to diversify our portfolio by tenant and facility type,” Matros says. “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. We look forward to welcoming our new colleagues to the Sabra team as we build an even stronger company.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.