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CHICAGO—Aviv REIT, Inc., a Chicago-based REIT focused on healthcare properties, has just acquired four post-acute and long-term care skilled nursing facilities in Texas and Illinois in two separate transactions for $20.0 million. The purchases close what has been a good year for Aviv, which conducted a successful IPO earlier in 2013.

One of the SNFs is located in Texas and triple-net leased to an existing Aviv operator called Fundamental Long Term Care, an operator of 102 facilities in 13 states. The others are located in Illinois and triple-net leased to Bridgemark Healthcare, another Aviv operator that runs ten facilities in the state. Aviv officials say these investments have a blended initial cash yield of 9.9%, annual escalators and initial lease terms of seven and ten years, respectively.

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