News Article
US REIT to acquire 45 UK care homes for £1.1bn
US listed CareTrust REIT has announced a £1.1bn agreement to acquire a portfolio of 45 purpose built care homes from LNT Care Developments, marking a significant expansion of its United Kingdom footprint.
This is a transformative step for the California-based real estate investment trust as it seeks to build a substantial senior housing operating portfolio platform across the British market.
The deal is structured through staggered closings to manage development risk and operational ramp up. An initial tranche of 24 homes, all completed within the last two years, has closed for approximately £576m. The remaining 21 properties are currently under construction and will be acquired for roughly £504 million on a rolling basis throughout 2027 as they receive regulatory approvals.
The agreement also includes a fixed price option for CareTrust to acquire the entire LNT platform in the future, potentially providing a permanent development engine for further growth. This strategic move is expected to increase CareTrust’s senior housing exposure to approximately 40% of its total portfolio, significantly diversifying its asset mix.
