The Ensign Group Adds Two Skilled Nursing Facilities in Texas
The Ensign Group (Nasdaq: ENSG) announced the acquisition of two skilled nursing facilities in Texas, effective August 1, 2021. The facilities include Sedona Trace Health and Wellness Center in Austin (119 beds) and Cedar Pointe Health and Wellness Center in Cedar Park (122 beds). The real estate was acquired by CareTrust REIT (Nasdaq: CTRE), extending their master lease by ten years. The acquisition expands Ensign's portfolio to 242 healthcare operations across 13 states, highlighting its commitment to growth in the healthcare sector.
- Acquisition of Sedona Trace (119 beds) and Cedar Pointe (122 beds) expands Ensign's portfolio.
- Increased lease term with CareTrust REIT by ten years supports long-term stability.
- Total portfolio reaches 242 healthcare operations across 13 states.
- None.
SAN JUAN CAPISTRANO, Calif., Aug. 02, 2021 (GLOBE NEWSWIRE) -- The Ensign Group, Inc. (Nasdaq: ENSG), the parent company of the Ensign™ group of companies, which invest in and provide skilled nursing and senior living services, physical, occupational and speech therapies and other rehabilitative and healthcare services, announced today that, effective August 1, 2021, it acquired the operations of the following skilled nursing facilities in Texas:
- Sedona Trace Health and Wellness Center, a 119-bed skilled nursing facility located in Austin, TX; and
- Cedar Pointe Health and Wellness Center, a 122-bed skilled nursing facility located in Cedar Park, TX.
The real estate for each of these operations was acquired by CareTrust REIT, Inc. (Nasdaq: CTRE) in the transaction and each operation will be added to an existing long-term, triple-net master lease, which is currently in place between Ensign affiliates and CareTrust.
“We are excited to be growing in the Greater Austin area, which is a part of Texas we have been looking to grow in for some time. These acquisitions are a perfect fit both from a geographic and cultural perspective,” said Barry Port, Ensign's Chief Executive Officer. “We are again thrilled to be announcing our growing relationship with CareTrust and are excited to announce that, in connection with this transaction, CareTrust extended the applicable lease term by ten years. We continue to look forward to many more years of working together with CareTrust on these and future opportunities,” he added.
Kevin Niccum, President of Keystone Care LLC, Ensign’s Texas-based subsidiary, added “These recently constructed facilities represent fantastic growth opportunities in the short-term and the long term. We look forward to working closely with an outstanding team of professionals that truly care about the residents and their families.” This acquisition brings Ensign's growing portfolio to 242 healthcare operations, 22 of which also include senior living operations, across thirteen states. Ensign owns 95 real estate assets. Mr. Port reaffirmed that Ensign is actively seeking opportunities to acquire real estate and to lease both well-performing and struggling skilled nursing, senior living and other healthcare related businesses throughout the United States.
About EnsignTM
The Ensign Group, Inc.'s independent operating subsidiaries provide a broad spectrum of skilled nursing and senior living services, physical, occupational and speech therapies and other rehabilitative and healthcare services at 242 healthcare facilities, in Arizona, California, Colorado, Idaho, Iowa, Kansas, Nebraska, Nevada, South Carolina, Texas, Utah, Washington and Wisconsin. More information about Ensign is available at http://www.ensigngroup.net.
About CareTrust™
CareTrust REIT, Inc. is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition, development and leasing of skilled nursing, seniors housing and other healthcare-related properties. With a nationwide portfolio of long-term net-leased properties, and a growing portfolio of quality operators leasing them, CareTrust REIT is pursuing both external and organic growth opportunities across the United States. More information about CareTrust REIT is available at www.caretrustreit.com.
Contact Information
The Ensign Group, Inc., (949) 487-9500, ir@ensigngroup.net
SOURCE: The Ensign Group, Inc.
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