Sabra Health Care REIT, Inc. completed the acquisition of 49% interest in 183 senior housing communities portfolio from TPG Real Estate for approximately $490 million.
January 01, 2018
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Sabra Health Care REIT, Inc. (NasdaqGS:SBRA) entered into definitive agreements to acquire 49% interest in 183 senior housing communities portfolio from TPG Real Estate for approximately $370 million on September 15, 2017. Sabra expects to finance this transaction with proceeds from its revolving credit facility and cash generated from the planned dispositions. The agreement includes an option for Sabra to acquire the remaining majority interest in the portfolio over the next three years. Transaction is subjected to customary closing conditions including regulatory approvals and lender consents. The transaction is expected to close prior to year-end 2017. Peter Serating, Steven Daniels, David Polster, Kenneth Schwartz and Harvey Uris of Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor for TPG Real Estate. JPMorgan Chase & Co. (NYSE:JPM) acted as financial advisor for Enlivant , a portfolio company of TPG.
Sabra Health Care REIT, Inc. (NasdaqGS:SBRA) completed the acquisition of 49% interest in 183 senior housing communities portfolio from TPG Real Estate for approximately $490 million on January 2, 2018. Under the terms of the transaction, Sabra will acquire a 172 senior housing portfolio for $353 million and an 11 senior housing community portfolio for $138 million.
Sabra Health Care REIT, Inc. operates as a self-administered, self-managed real estate investment trust (REIT) that, through its subsidiaries, owns and invests in real estate serving the healthcare industry. The Company's primary business consists of acquiring, financing and owning real estate property to be leased to third-party tenants in the healthcare sector. Its investment portfolio is primarily comprised of skilled nursing/transitional care facilities, senior housing communities (Senior Housing - Leased), behavioral health facilities, and specialty hospitals and other facilities, in each case leased to third-party operators; senior housing communities operated by third-party property managers pursuant to property management agreements (Senior Housing - Managed); investments in joint ventures; loans receivable, and preferred equity investments. Its real estate properties held for investment include approximately 37,834 beds/units, spread across the United States and Canada.
Sabra Health Care REIT, Inc. completed the acquisition of 49% interest in 183 senior housing communities portfolio from TPG Real Estate for approximately $490 million.
SABRA HEALTH CARE REIT, INC. 
