Los Angeles Los Angeles

CareTrust REIT has acquired Vista del Lago, a memory care facility. The property is located in Escondido, California, and is a 52-unit facility with 96 licensed beds. The property traded hands for $12.6 million.

Vista del Lago has been leased to San Diego-based seniors housing operator Bayshire, which has managed the facility for the related-party seller since 2016.

Initial annual cash rent under the Bayshire master lease will be approximately $1.03 million, and the lease carries annual CPI-based rent escalators. The lease term is 15 years, plus two five-year renewal options. The acquisition was funded using cash on hand.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

Orange County
Healthcare Real Estate
Net Lease
Capital Markets