Sabra Health Care REIT (Nasdaq:SBRA) sees great value in skilled nursing as well as assisted living and memory care facilities. Rick Matros, chairman and CEO of Sabra recently sat down with REIT.com at its Investor Forum in New York and explained why skilled nursing facilities are a “sweet spot” for health care real estate.
“I think skilled nursing facilities are at the heart of policy changes for CMS, they’re driving patients to lower cost settings,” said Matros. “[This] puts skilled nursing facilities and home health in a pretty sweet spot.”
Sabra has a $400 million development pipeline in place, with approximately 70% of the new construction consisted of skilled nursing facilities, while the remainder is dedicated to assisted living assets.
In May, the company closed on the acquisition of Texas Regional Medical Center for $62.7 million. In addition, Sabra closed on a mortgage note secured by Hillside Terrace, a combined assisted living, independent living and memory care facility with 82 available beds in Ann Arbor, Michigan, for $5.3 million.
Check out the full interview at the link below.