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NEWPORT BEACH, CA-Nationwide Health Properties Inc. completed the acquisition of 38 senior housing and long-term care properties in three separate sale-leaseback transactions totaling approximately $142.5 million.

The Company says it acquired 32 skilled nursing facilities in Texas licensed for 3,718 beds in a $64 million sale-master leaseback with affiliates of Complete HealthCare Resources Inc., a large privately held health care company which also operates one of Nationwide’s other facilities.

In addition, Nationwide, a real estate investment trust, completed a $78.5 million acquisition of six properties with 936 beds that provide independent living, assisted living, dementia care and skilled nursing.

Five of those properties were acquired in a $57 million sale-master leaseback with American Retirement Corp., a longtime Nationwide customer. In addition, Nationwide bought one 200-unit property that includes both independent and assisted living. That deal was a $21.5 million sale-leaseback with an affiliate of Atria Inc., a new privately held customer of Nationwide.

Nationwide president and CEO R. Bruce Andrews says occupancy rates are high and operations are stabilized at the acquired properties. He says the REIT was drawn to the properties because, “The operators have a great deal of experience in the industry and have successfully run the facilities on a very profitable basis.” Occupancy levels are 85% at the Texas properties, 87% at the five American Retirement properties and 985 at the 200-unit Atria facility.

Nationwide has investments in 391 facilities in 38 states. The new acquisitions are typical of the company’s operations, in which it acquires health care facilities and leases them on a long-term basis to experienced operators.

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