Sabra Healthcare REIT Closes Merger With Care Capital Properties

Sabra Healthcare REIT and Care Capital Properties, Inc. (CCP) said Thursday they have completed their merger to create a healthcare real estate investment trust that is expected to generate annual cost savings of about $20 million.

The merger diversifies Sabra’s tenant base, increases scale and is expected to position the company to achieve investment grade credit ratings, according to a statement. “With our enhanced financial strength and access to capital, we expect to continue to diversify our portfolio by tenant and facility type,” said Sabra’s CEO Rick Matros. “Further, we expect the merger’s significant cash flow accretion will provide the potential for a meaningful near-term dividend increase and enhance value for our shareholders.”

By Caroline Williams