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CareTrust REIT Acquires 464-Bed Nursing Portfolio in Grand Rapids Cluster

Metron Sells Health Care Bldgs. in $41.5M Sale-Leaseback Deal
March 8, 2018
Metron of Forest Hills at 1095 Medical Park Dr. SE in Grand Rapids, MI



CareTrust REIT, a self-administered and publicly-traded investment firm that focuses on the ownership, acquisition and leasing of seniors housing, acquired a 464-bed skilled nursing portfolio in a sale-leaseback deal from Metron Integrated Health Systems. The five health care buildings, which are located near Grand Rapids, MI, sold for $41.5 million, or approximately $89,000 per bed.

Grand Rapids, MI-based Metron will continue to manage the properties and has served the area for more than 35 years. The company plans to recapitalize and lay a foundation for future growth, said Mark Piersma, owner and CEO of Metron, in a release from CareTrust.

Jason Stroiman, president and founder of Evans Senior Investments, represented the seller.

Please see CoStar COMPS #4157657 for additional information on this transaction.

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