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Sabra Health Care wraps up sale of 12 facilities for $134M

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Sabra Health Care wraps up sale of 12 facilities for $134M

Healthcare real estate investment trust Sabra Health Care REIT Inc. completed the sale of 12 facilities leased to Genesis Healthcare Inc. in New Hampshire and Florida for $134.0 million, reducing Genesis' annual rent obligations by $12.0 million.

The company also sold eight skilled nursing facilities in Indiana, obtained in the Care Capital Properties Inc. merger, for $40.0 million.

Sabra intends to use the proceeds from the sales to settle borrowings under its revolving credit facility.

Sabra also completed the redemption of all its outstanding 7.125% series A cumulative redeemable preferred stock.