Reuters logo
BRIEF-Sabra enters into agreements to acquire 49 pct equity interest in senior housing joint ventures managed by Enlivant
September 19, 2017 / 8:44 PM / a month ago

BRIEF-Sabra enters into agreements to acquire 49 pct equity interest in senior housing joint ventures managed by Enlivant

Sept 19 (Reuters) - Sabra Health Care REIT Inc

* Sabra enters into agreements to acquire 49% equity interest in senior housing joint ventures managed by Enlivant; closing expected prior to year end 2017; places Sabra on path to 100% ownership of portfolio

* Says transaction values portfolio at $1.62 billion and Sabra’s 49% minority interest investment at $371.0 million

* Sabra Health Care REIT Inc - ‍Expects to finance the investment with proceeds from its revolving credit facility​

* Sabra Health Care REIT - Under JV agreements, co will have right to designate three directors on seven member boards of Enlivant joint ventures

* Sabra Health Care REIT Inc - Under joint venture agreements, co will have right to designate 3 directors on 7 member boards of Enlivant joint ventures

* Sabra Health Care REIT - ‍ Also expects to finance investment cash generated from planned dispositions of certain facilities operated by Genesis Healthcare

* Sabra Health Care REIT - Enlivant JV currently targeting 2018 NOI after management fees of about $100 to $105 million before projected capital expenditures Source text for Eikon: Further company coverage:

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below