- The portfolio includes eight independent living facilities and one assisted living facility located in British Columbia and Ontario. Upon closing, NASDAQ:SBRA will enter into a triple-net master lease agreement with Senior Lifestyle Corporation expected to have an initial term of 10 years with annual rent increases baked in. The initial yield on cash rent should be 6%.
- Sabra also enters a pipeline agreement with Leo Brown Group under which LBG will identify senior housing development projects and secure financing. Sabra will have the right to provide some equity financing.
- Source: Press Release