Le Trait, France
Le Trait, France

Time filter

Source Type

News Article | March 3, 2017
Site: www.prweb.com

Committed to helping severely disadvantaged children, Bird B Gone, Inc., the leader in professional grade bird control products for commercial, industrial and residential applications is making an all out effort to help the Ebola Orphan Care Center, a charity connected with Children of the Nations (COTN). A long time supporter of Children of the Nations (COTN), Bird B Gone has been instrumental in the care for children like Mercy, a young girl who came to live in COTN’s Children’s Homes in rural Upper Banta. The special homes house as many as ten children, with one auntie to supervise and care for them. Some felt that the homes were not originally set up for children like Mercy, who is totally dependent on the staff for everything from going to the bathroom to washing her clothes and dressing her. Unable to communicate and deeply traumatized by the sickness she survived, Mercy often threw fits of frustration. But amidst this struggle, the children with whom Mercy shared a home with—her new “brothers and sisters” at COTN—joined in to help her. These children who were also at one time orphaned and rejected helped Mercy adjust. “It is a privilege to see her COTN family coming alongside Mercy to care for her,” says COTN’s Sierra Leone liaison, Mark Drennan. Mark had originally thought caring for Mercy would be too much for COTN. Today, he feels honored to watch the other children wash her clothes, comb her hair, and calm her when she’s frustrated. The COTN staff chose to care for these severely traumatized children, even though their needs may seem beyond what they can manage. Four of their students who completed high school recently moved to Freetown and will be spending their spare time caring for these children, walking through this dark time with them, doing their best to make them laugh again, and letting them know someone understands how they feel. Those interested in caring for a child like Mercy are urged to give today to support the Ebola Orphan Care Center. Bird B Gone is the world’s largest manufacturer and distributor of bird control products, providing effective and humane solutions to a bird-free environment. The company provides advice; training and installation services for those who need help with these and other bird control measures. For the complete line of products from Bird B Gone, call 1-800-392-6915; fax: 949-472-3116 or visit our website at http://www.birdbgone.com, e-mail: nobirds(at)birdbgone(dot)com.


News Article | March 2, 2017
Site: globenewswire.com

SAN CLEMENTE, Calif., March 02, 2017 (GLOBE NEWSWIRE) -- CareTrust REIT, Inc. (NASDAQ:CTRE) announced today that it acquired five skilled nursing facilities in Illinois. The purchase price was approximately $29.2 million, inclusive of transaction costs. In connection with the acquisition, CareTrust REIT entered into a new tenant relationship with affiliates of Illinois-based WLC Management Firm, LLC, which took over operations effective March 1, 2017. "We are delighted to begin a new relationship with industry veteran Scott Stout and the WLC team, and to add these well-regarded properties to our portfolio," said Dave Sedgwick, CareTrust REIT's Vice President of Operations. He noted that Mr. Stout has been managing the portfolio’s day-to-day operations since 2008 for the outgoing owner, Dr. Roger Herrin, who is retiring from the post-acute and convalescent care business after 43 years. “Although we are technically re-tenanting this portfolio, we are pleased that our incoming operator knows these operations, their personnel and their markets so well,” he added. Scott Stout, WLC’s chief executive officer, said, “I love these facilities and the staff, residents and patients that make them so special, and I’m honored to continue the legacy of quality, local care and attention that Dr. Herrin established.”  Mr. Stout continued, “I’m grateful to have joined with CareTrust REIT, and appreciate the pragmatic and operator-sensitive mindset they brought to the transaction." The 455-bed Illinois skilled nursing portfolio consists of Saline Care Center in Harrisburg, Carrier Mills Nursing & Rehabilitation in Carrier Mills, Stonebridge Senior Living Center in Benton, Pinckneyville Nursing & Rehabilitation Center in Pinckneyville, and DuQuoin Nursing & Rehabilitation Center in DuQuoin. The investment is scheduled to generate initial annual rent of $2.9 million, for an initial cash yield of 10.0%. The new master lease carries an initial term of fifteen years, with two five-year renewal options and CPI-based rent escalators.  CareTrust REIT funded the acquisition with cash on hand. CareTrust REIT, Inc. is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition and leasing of seniors housing and healthcare-related properties. With 158 net-leased healthcare properties and three operated seniors housing properties in 21 states, CareTrust REIT is pursuing opportunities across the nation to acquire properties that will be leased to a diverse group of local, regional and national seniors housing operators, healthcare services providers, and other healthcare-related businesses. More information about CareTrust is available at www.caretrustreit.com.


News Article | February 15, 2017
Site: www.prweb.com

Recognized for excellence for their work with commercial specialty building products, Tull Brothers, Inc. received two merit awards from the Associated Builders and Contractors (ABC) Mississippi Chapter. ABC’s 30th Annual Merit Awards was held at the Country Club of Jackson in Jackson, Mississippi Dec. 3, 2016. One of the awards was for the company’s work on the Kay Research and Care Center on the campus of St. Jude Children’s Research Hospital in Memphis. The second honor was for work completed for NASA at the Marshall Space Flight Center in Huntsville, Alabama. “Receiving this prestigious recognition from one of the largest ABC chapters means a great deal to our company,” Tull Brothers President Fred Tull said. “We’re grateful for our clients, who allow us to work on projects that make a difference, and all our team members, who strive for excellence in meeting those clients’ needs. These awards help us celebrate the craftsmanship and accomplishments that come from these partnerships.” At the Kay Research and Care Center in Memphis, which serves parents and children in the fight against childhood diseases, Tull Brothers furnished and installed skyline interactive glass walls. It was a part of the effort to improve the quality of the residential conditions for patient families. Every floor offers a glass mural welcome wall featuring a unique theme – the jungle, space and the ocean. Tull Brothers’ experience and precision in constructing exterior doors, windows and curtain walls coincided with Marshall Space Flight Center’s vision of delivering aesthetically pleasing and high performing LEED certified structures. LEED certified structures use less energy and water and reduce greenhouse gas emissions. Tull Brothers received merit awards in 2010 and 2013 for work in Memphis at the Air Traffic Control Tower and Beale Street Landing Service. The company also won a merit award in 2014 for a project in Birmingham, Alabama at the Abroms–Engel Institute for Visual Art. The company also has been named Safe Subcontractor of the Year in Mobile District Construction Division, U.S. Army Corps of Engineers, and Superior Safety Award for the Mobile District Construction Division, U.S. Army Corps of Engineers. Since 1962, Tull Brothers has offered superior building products and installation. With locations in six cities in Mississippi and Tennessee, the company has grown into one of the largest distributors of specialty building products in the South. Additional information about Tull Brothers is available at http://www.tullbrothersinc.com/.


News Article | February 24, 2017
Site: www.prweb.com

National recording artist Traci Braxton, who stars alongside her family on the hit WE tv reality show, Braxton Family Values, has three very personal reasons for supporting the Pulmonary Hypertension Association (PHA) as a PHA celebrity champion. Her son and two of her sisters battle diseases that can be associated with pulmonary hypertension (PH), a life threatening, often misdiagnosed progressive lung disease. Traci’s sister, Grammy Award winning artist Toni Braxton, has lupus; her son has rheumatoid arthritis; and her sister, national recording artist Tamar Braxton-Herbert, has battled pulmonary emboli (PE), blood clots in the lungs. Researchers find up to 9 percent of lupus patients also have PH and while rare, PH can also be a complication of rheumatoid arthritis. One form of PH, Chronic thromboembolic pulmonary hypertension (CTEPH), is believed to occur in up to 4 percent of patients who suffer from an acute PE. PH can exist alone, as well as in conjunction with congestive heart failure; connective tissue disorders like lupus and scleroderma; sickle cell anemia; COPD; HIV and a number of other illnesses. PH is characterized by increased pressure in the blood vessels of the lungs, which can lead to death from right-heart failure and affects infants, children and adults of all races and ethnic backgrounds. Common PH symptoms are non-specific and can include shortness of breath, fatigue and chest pain. Consequently, this complex disease is often misdiagnosed — for example, as asthma — leading to delays in proper treatment and costing patients valuable time. With early and accurate diagnosis, PH treatments can extend and improve the quality of life for many people living with the disease. While most forms of PH are incurable, CTEPH patients may be eligible for a surgical procedure to remove a major cause of the increased pressure, the chronic blood clots present in the lungs. “When I learned about PH and PHA during Pulmonary Hypertension Awareness Month last November, I began using my social media platform to let others know about the disease and the importance of getting an early and accurate diagnosis,” Traci Braxton said. “What really struck me was the fact that when it comes to pulmonary arterial hypertension (PAH), the form of the disease for which most targeted treatments exist, African-American women could have some of the highest death rates.” As a PHA celebrity champion, Braxton will appear in digital advertising and share information about PH with her social media fans. She will also join PHA for an east-coast fundraiser this year. A talented reality TV star, writer, artist and philanthropist, Braxton balances her career with her most important role as wife to her husband, Kevin, and mother to her son, Kevin Jr. In addition to appearing on WE tv’s Thursday evening hit show Braxton Family Values with sisters Toni, Towanda, Trina, Tamar and mother Evelyn, she serves as a motivational speaker in support of health-related causes, anti-bullying and education. PHA relies on charitable donations to fund its programs and supports researchers looking for causes and cures for this complex disease. The heart of the PH community for more than 25 years, PHA is the only national nonprofit providing support and educational resources for patients, families, caregivers, health care professionals who specialize in caring for people with the disease and PH researchers. PHA’s new PH Care Center accreditation program and patient registry are already making contributions to improving patient care, and PHA’s public service campaigns, which Traci will support, are helping to raise awareness and educate the public about the disease. Headquartered in Silver Spring, Md., the Pulmonary Hypertension Association (PHA) is the country’s leading pulmonary hypertension organization. PHA’s mission is to extend and improve the lives of those affected by PH; its vision is a world without PH, empowered by hope. PHA achieves this by connecting and working together with the entire PH community of patients, families; health care professionals and researchers. For more information and to learn how you can support PH patients, visit http://www.PHAssociation.org and connect with PHA on Twitter and Instagram @PHAssociation and on Facebook at http://www.facebook.com/PulmonaryHypertensionAssociation.


News Article | February 15, 2017
Site: www.prweb.com

Ziegler, a specialty investment bank, is pleased to announce the successful closing of the $126,000,000 non-rated, tax-exempt, Series 2016A and $3,800,000 non-rated, taxable Series 2016B fixed-rate Bond issues for C. C. Young Memorial Home, a long-standing Ziegler client. C. C. Young Memorial Home (the Obligor) is a Texas not-for-profit corporation established in March of 1922 and is one of the first facilities chartered by the State of Texas to care for older adults. The Obligor currently owns and operates a continuing care retirement community (the Community) located on a 20-acre site overlooking White Rock Lake in northeast Dallas, Texas. The Community currently consists of the following: The Thomas, consisting of 37 ILUs and two guest units housed in several single-story buildings; The Asbury, a three-story building consisting of 78 ILUs and related common areas; The Overlook, a six-story building consisting of 108 ILUs, related common areas and underground parking; The Blanton Assisted Living Center, a five-story building consisting of 75 ALUs and related common areas; The Cove Memory Care Center, a single-story building consisting of 40 memory-support beds and related common areas; The Lawther Point Health Center, consisting of 117 skilled nursing beds and related common areas housed in two buildings, Lawther Point East and Lawther Point West; and The Point, Center for Arts and Education, a facility which houses classrooms, a small theater, an auditorium and a chapel. Proceeds of the Series 2016 Bonds will be used to (i) finance the first phase of a master plan of the Community which includes construction of “The Vista;” (ii) redeem a $4 million interim bank loan used to finance predevelopment activities; (iii) fund capitalized interest on the Series 2016A and Series 2016B Bonds; (iv) reimburse the Obligor for prior capital expenditures and fund future capital expenditures; (v) fund separate accounts of the debt service reserve fund for each series of bonds; and (vi) pay the costs of issuance. The Series 2016 Bonds are being issued on a parity with the outstanding Series 1998, Series 2007 and Series 2009 Bonds. The master plan of the Community envisions rebalancing the levels of care offered by the Community by increasing independent living, assisted living and memory support care units while repositioning the current skilled nursing capacity. It is anticipated that the master plan will be implemented in three phases over an approximately eight-year time period. The first phase calls for the construction of a new integrated transitional living center named The Vista that will provide assisted living, memory support care and skilled nursing services to residents of the Community as well as outpatient services. The Vista is a nine-story building that will serve as an innovative transitional care facility that will allow the two wings on each floor to be interchangeable as to the type of care provided in that wing in order to provide maximum flexibility and adaptability allowing the Obligor to respond to future market changes to different levels of care. The Vista is planned to initially consist of the following: 45 additional assisted living beds; 48 assisted living memory care beds to replace The Cove; 128 skilled nursing beds to replace the existing Health Center; a rehab center with an indoor therapy pool and walking track; adult day center; community spaces including a chapel, café lounge, gift shop, wander garden, patios, and an underground parking garage; and administrative offices and employee center. “We appreciate Ziegler’s partnership and commitment to be on the leading edge with C. C. Young in serving seniors. The Vista’s new, flexible design allows us to meet current needs and adapt as market demands change. With advanced technology and forward-thinking design, we will be the market leader in senior care and service for years to come,” stated, Russell Crews, Chief Executive Officer of C. C. Young. “C. C. Young has been a long-standing client of Ziegler’s and we recognized the importance to the organization of The Vista and the future campus improvements as part of the master plan. This project is very unique but may provide the blueprint for design of the health centers of senior living communities well into the future. Capital markets fluctuations added some ‘suspense’ to this transaction, but a committed working group worked through all the issues for a successful closing,” commented, Rich Scanlon, Managing Director in Ziegler’s senior living finance practice. Ziegler is one of the nation's leading underwriters of financing for not-for-profit senior living providers. Ziegler offers creative, tailored solutions to its senior living clientele, including investment banking, financial risk management, merger and acquisition services, investment management, seed capital, FHA/HUD, capital and strategic planning as well as senior living research, education, and communication. For further information on the structure and use of this issue, please see the Official Statement located on the Electronic Municipal Market Access system's Document Archive. For more information about Ziegler, please visit us at http://www.Ziegler.com. About Ziegler: Ziegler is a privately held investment bank, capital markets, wealth management and alternative investments firm, celebrating its 115th anniversary this year. Ziegler is ranked No. 1 in the country in healthcare/senior living underwriters by issuance and No. 4 by par amount (Thomson Reuters, 2016), and is ranked in the top 20 municipal underwriters in the country by volume (Bloomberg, 2016). Specializing in the healthcare, senior living, education and religion sectors, as well as general municipal and structured finance enables Ziegler to generate a positive impact on the communities it serves. Headquartered in Chicago with regional and branch offices throughout the United States, Ziegler provides its clients with capital raising, strategic advisory services, equity and fixed income sales & trading, wealth management and research. To learn more, visit http://www.ziegler.com. Certain comments in this news release represent forward-looking statements made pursuant to the provisions of the Private Securities Litigation Reform Act of 1995. This client’s experience may not be representative of the experience of other clients, nor is it indicative of future performance or success. The forward-looking statements are subject to a number of risks and uncertainties, in particular, the overall financial health of the securities industry, the strength of the healthcare sector of the U.S. economy and the municipal securities marketplace, the ability of the Company to underwrite and distribute securities, the market value of mutual fund portfolios and separate account portfolios advised by the Company, the volume of sales by its retail brokers, the outcome of pending litigation, and the ability to attract and retain qualified employees. # # #


News Article | March 2, 2017
Site: globenewswire.com

SAN CLEMENTE, Calif., March 02, 2017 (GLOBE NEWSWIRE) -- CareTrust REIT, Inc. (NASDAQ:CTRE) announced today that it acquired five skilled nursing facilities in Illinois. The purchase price was approximately $29.2 million, inclusive of transaction costs. In connection with the acquisition, CareTrust REIT entered into a new tenant relationship with affiliates of Illinois-based WLC Management Firm, LLC, which took over operations effective March 1, 2017. "We are delighted to begin a new relationship with industry veteran Scott Stout and the WLC team, and to add these well-regarded properties to our portfolio," said Dave Sedgwick, CareTrust REIT's Vice President of Operations. He noted that Mr. Stout has been managing the portfolio’s day-to-day operations since 2008 for the outgoing owner, Dr. Roger Herrin, who is retiring from the post-acute and convalescent care business after 43 years. “Although we are technically re-tenanting this portfolio, we are pleased that our incoming operator knows these operations, their personnel and their markets so well,” he added. Scott Stout, WLC’s chief executive officer, said, “I love these facilities and the staff, residents and patients that make them so special, and I’m honored to continue the legacy of quality, local care and attention that Dr. Herrin established.”  Mr. Stout continued, “I’m grateful to have joined with CareTrust REIT, and appreciate the pragmatic and operator-sensitive mindset they brought to the transaction." The 455-bed Illinois skilled nursing portfolio consists of Saline Care Center in Harrisburg, Carrier Mills Nursing & Rehabilitation in Carrier Mills, Stonebridge Senior Living Center in Benton, Pinckneyville Nursing & Rehabilitation Center in Pinckneyville, and DuQuoin Nursing & Rehabilitation Center in DuQuoin. The investment is scheduled to generate initial annual rent of $2.9 million, for an initial cash yield of 10.0%. The new master lease carries an initial term of fifteen years, with two five-year renewal options and CPI-based rent escalators.  CareTrust REIT funded the acquisition with cash on hand. CareTrust REIT, Inc. is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition and leasing of seniors housing and healthcare-related properties. With 158 net-leased healthcare properties and three operated seniors housing properties in 21 states, CareTrust REIT is pursuing opportunities across the nation to acquire properties that will be leased to a diverse group of local, regional and national seniors housing operators, healthcare services providers, and other healthcare-related businesses. More information about CareTrust is available at www.caretrustreit.com.


News Article | February 15, 2017
Site: www.prweb.com

The Mayor of the City of Cincinnati, John Cranley, proclaimed January 18, 2017 to be designated as “Courage Day” and presented to Lincoln Crawford Care Center because of the outstanding care and respect given to their aging veterans. Lincoln Crawford has provided care to veterans from all branches of the Armed Forces dating back to World War II. Lincoln Crawford recently unveiled their “Wall of Courage” and their “Courage Medal of Honor.” “We believe our veterans, who have demonstrated courage and sacrifice to our country deserve to be honored,” said Gretchen Aichele, Administrator at Lincoln Crawford. “Our Wall of Courage features photos of our veterans and allows us to show our gratitude for their service.” Aichele went on to say that aging with dignity requires that same courage that they know so well. “It’s not easy to accept that they have provided help to many, and now it is time for them to receive help from others.” Photos of the veterans are prominently displayed over the Pledge of Allegiance, showing their commitment to those who have served, as well as to the freedom they courageously fought to secure. Lincoln Crawford has proudly served the Greater Cincinnati area for more than 100 years and has seen veterans of all ages, branches and ranks come through their doors. The idea for the Wall of Courage came when Aichele determined it was time to give back and show admiration for these men and women who reside either temporarily or permanently in their facility. “We see a lot of courageous, elderly people who are faced with battling both temporary and permanent changes in their life style and health,” Aichele said. Lincoln Crawford Care Center is located in North Walnut Hills, a community within the City of Cincinnati. They provide short term rehabilitation as well as long term care. Their state-of-the-art rehab division is one of the leading facilities for those recovering from stroke, heart attack or traumatic injury. They are fully staffed with physical, occupational, and speech therapists. The ”Wall of Courage” is located in the main entrance hall for every visitor, resident and guest to view. “We are pleased to be able to honor them and the Proclamation from the City of Cincinnati takes this honor one step further,” Aichele said. For more information about Lincoln Crawford Care Center, contact: Gretchen Aichele, Administrator 1346 Lincoln Avenue Cincinnati, OH 45206 513-861-2044 http://www.lincolncrawford.com


News Article | February 15, 2017
Site: www.prweb.com

The Sheffield Care Center is committed to be a leader in providing quality preventative and restorative services and to continuously strive to improve and implement the ongoing changes in healthcare. The new website and logo demonstrate this commitment. In 1973, the community of Sheffield recognized that a ICF facility would be beneficial in the future of the area. A committee was formed and with the dedication of the volunteers and donations the Sheffield Care Center became a reality with the official opening of the facility on October 21, 1979. Today the Sheffield Care Center offers services that include skilled nursing and long term nursing care, respite care, physical, occupational and speech therapy, an onsite salon, and a facility owned bus for transporting residents to appointments and off-site field trips. Innovative Therapy provides services for residents and out-patients. The staff consists a licensed physical therapist, occupational therapist and speech therapist. Bernard Lawton, DPT and Sharri Follmuth, PTA provide physical therapy services while Kerri Conway, OTR is the occupational therapist. Speech therapy services are provided by Lori Grummer, ST. As a community owned not-for-profit facility, Sheffield Care Center board members are continually reinvesting in the Medicare and Medicaid certified facility. This community commitment is also demonstrated through the Meals-On-Wheels program offered. Here community members can purchase one meal a day which is prepared by the dietary staff and then delivered by community volunteers. “Our new website, Facebook, Twitter, LinkedIn and other social media will provide us an excellent online presence along with keeping our community, resident family members and friends up to date on our activities,” states Bonnie Hubka, Office Manager at Sheffield Care Center. “The new logo also represents a dedicated staff working as a team to provide a clean, comfortable, home-like atmosphere for all the residents.” Sheffield Care Center is located at 100 Bennett Drive, Sheffield, Iowa. Information is available by visiting the website at http://www.sheffieldcc.com/ and by calling 641-892-4691. Everyone is invited to follow Sheffield Care Center on Facebook, Twitter and LinkedIn.


News Article | March 2, 2017
Site: globenewswire.com

SAN CLEMENTE, Calif., March 02, 2017 (GLOBE NEWSWIRE) -- CareTrust REIT, Inc. (NASDAQ:CTRE) announced today that it acquired five skilled nursing facilities in Illinois. The purchase price was approximately $29.2 million, inclusive of transaction costs. In connection with the acquisition, CareTrust REIT entered into a new tenant relationship with affiliates of Illinois-based WLC Management Firm, LLC, which took over operations effective March 1, 2017. "We are delighted to begin a new relationship with industry veteran Scott Stout and the WLC team, and to add these well-regarded properties to our portfolio," said Dave Sedgwick, CareTrust REIT's Vice President of Operations. He noted that Mr. Stout has been managing the portfolio’s day-to-day operations since 2008 for the outgoing owner, Dr. Roger Herrin, who is retiring from the post-acute and convalescent care business after 43 years. “Although we are technically re-tenanting this portfolio, we are pleased that our incoming operator knows these operations, their personnel and their markets so well,” he added. Scott Stout, WLC’s chief executive officer, said, “I love these facilities and the staff, residents and patients that make them so special, and I’m honored to continue the legacy of quality, local care and attention that Dr. Herrin established.”  Mr. Stout continued, “I’m grateful to have joined with CareTrust REIT, and appreciate the pragmatic and operator-sensitive mindset they brought to the transaction." The 455-bed Illinois skilled nursing portfolio consists of Saline Care Center in Harrisburg, Carrier Mills Nursing & Rehabilitation in Carrier Mills, Stonebridge Senior Living Center in Benton, Pinckneyville Nursing & Rehabilitation Center in Pinckneyville, and DuQuoin Nursing & Rehabilitation Center in DuQuoin. The investment is scheduled to generate initial annual rent of $2.9 million, for an initial cash yield of 10.0%. The new master lease carries an initial term of fifteen years, with two five-year renewal options and CPI-based rent escalators.  CareTrust REIT funded the acquisition with cash on hand. CareTrust REIT, Inc. is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition and leasing of seniors housing and healthcare-related properties. With 158 net-leased healthcare properties and three operated seniors housing properties in 21 states, CareTrust REIT is pursuing opportunities across the nation to acquire properties that will be leased to a diverse group of local, regional and national seniors housing operators, healthcare services providers, and other healthcare-related businesses. More information about CareTrust is available at www.caretrustreit.com.


News Article | March 2, 2017
Site: globenewswire.com

SAN CLEMENTE, Calif., March 02, 2017 (GLOBE NEWSWIRE) -- CareTrust REIT, Inc. (NASDAQ:CTRE) announced today that it acquired five skilled nursing facilities in Illinois. The purchase price was approximately $29.2 million, inclusive of transaction costs. In connection with the acquisition, CareTrust REIT entered into a new tenant relationship with affiliates of Illinois-based WLC Management Firm, LLC, which took over operations effective March 1, 2017. "We are delighted to begin a new relationship with industry veteran Scott Stout and the WLC team, and to add these well-regarded properties to our portfolio," said Dave Sedgwick, CareTrust REIT's Vice President of Operations. He noted that Mr. Stout has been managing the portfolio’s day-to-day operations since 2008 for the outgoing owner, Dr. Roger Herrin, who is retiring from the post-acute and convalescent care business after 43 years. “Although we are technically re-tenanting this portfolio, we are pleased that our incoming operator knows these operations, their personnel and their markets so well,” he added. Scott Stout, WLC’s chief executive officer, said, “I love these facilities and the staff, residents and patients that make them so special, and I’m honored to continue the legacy of quality, local care and attention that Dr. Herrin established.”  Mr. Stout continued, “I’m grateful to have joined with CareTrust REIT, and appreciate the pragmatic and operator-sensitive mindset they brought to the transaction." The 455-bed Illinois skilled nursing portfolio consists of Saline Care Center in Harrisburg, Carrier Mills Nursing & Rehabilitation in Carrier Mills, Stonebridge Senior Living Center in Benton, Pinckneyville Nursing & Rehabilitation Center in Pinckneyville, and DuQuoin Nursing & Rehabilitation Center in DuQuoin. The investment is scheduled to generate initial annual rent of $2.9 million, for an initial cash yield of 10.0%. The new master lease carries an initial term of fifteen years, with two five-year renewal options and CPI-based rent escalators.  CareTrust REIT funded the acquisition with cash on hand. CareTrust REIT, Inc. is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition and leasing of seniors housing and healthcare-related properties. With 158 net-leased healthcare properties and three operated seniors housing properties in 21 states, CareTrust REIT is pursuing opportunities across the nation to acquire properties that will be leased to a diverse group of local, regional and national seniors housing operators, healthcare services providers, and other healthcare-related businesses. More information about CareTrust is available at www.caretrustreit.com.

Loading Care Center collaborators
Loading Care Center collaborators