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Sabra Gains Minority Interest in $1.62B Seniors Portfolio

The healthcare REIT enters into definitive agreements to acquire a 49% equity interest in entities that collectively own 183 senior-housing communities managed by Enlivant.

By Carrie Rossenfeld | carrierossenfeld | Updated on September 20, 2017

Irvine The Irvine, Ca-based REIT’s investment is valued at $371 million.

IRVINE, CA—Sabra Health Care REIT Inc. has entered into definitive agreements to acquire a 49% equity interest in entities that collectively own 183 senior-housing communities managed by Enlivant Joint Ventures. The portfolio is valued at $1.62 billion, and Sabra’s minority-interest investment is valued at $371 million; the transaction is expected to close by year-end 2017.

As we reported in August, Sabra and Care Capital Properties Inc. 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 headquarters here and will continue trading under the SBRA ticker on Nasdaq.

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