Oct. 31, 2014, 9:44 AM| Comment!
Sep. 30, 2014, 7:56 AM
- Sabra (NASDAQ:SBRA) prices its 6M share secondary at $24.25 each. Excluding possible exercise of the 900K share greenshoe, the company expects net proceeds of $138.9M.
- Shares +1.25% to $24.55 premarket, after yesterday's 5.25% decline.
- Source: Press Release
- Previously: Sabra Health Care closes on purchase of 21 property portfolio; sells stock to finance
Sep. 29, 2014, 11:23 AM
- The 21 independent living facilities from Holiday Acquisition Holdings are located in 15 states and were purchased for $550M in cash. Concurrently, Sabra (SBRA -4.7%) enters into a triple-net master lease deal with subsidiaries of Holiday for management of the properties for 15 years (with two five-year renewal options). The lease is expected to generate an initial yield on cash rent of 5.5%.
- Sabra expects to close another $100M in sale/leaseback deals over the next 60 days.
- The company announces a 6M share secondary offering, with proceeds to be used to pay down amounts drawn ($560M) on its credit line to make the purchase.
SBRA vs. ETF Alternatives
Sabra Health Care REIT Inc operates as a self-administered & self-managed REIT. The Company through its subsidiaries is engaged in acquiring, financing and owning real estate property to be leased to third party tenants in the healthcare sector.
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