PRINCESS ANNE, MD-Sabra Health Care REIT has acquired two skilled nursing facilities, one of which is here and the other in Norwalk, CT. Both properties traded for a total of $18 million.

These sales follow the acquisition of four skilled nursing facilities from Peninsula Healthcare Services LLC, for $97.5 million. The 500-bed portfolio transaction, which is being structured as a sale leaseback, are located in Delaware. 

Sabra Health Care REIT’s latest transactions have been in the Mid-Atlantic and Northeast but a spokeswoman for the company tells GlobeSt.com it isn’t focusing on any particular geography. “We acquire properties opportunistically,” she says. She declined to discuss additional acquisitions the REIT might be planning outside of another pending deal the company announced: the 59-unit assisted living facility Creekside Senior Living for $4.2 million. It is located in Green Bay, WI.

Both of the skilled nursing facilities it just acquired will be operated under a single 15-year triple-net master lease agreement with two five-year renewal options. The REIT estimates they will provide an initial yield on cash rent of 10.6%. Affiliates of Aurora Health Management, LLC, sold the two properties,  the locally-based 135-bed Manokin Manor & Rehabilitation Center and the 150-bed Honey Hill Care Center in Norwalk, CT. These two properties have been under managed, Rick Matros, CEO and chairman of Sabra, said in a prepared statement. “The upside in these centers is primarily in cost management.”