CareTrust agrees £1.1 billion purchase of 45 UK care homes from LNT

Why it matters

The company expects the initial lease period to add to normalized funds from operations per share and estimates a pre-tax all-in yield in the mid- to high-7% range during the first year of the operating phase. The deal also establishes a route for CareTrust to expand its UK senior-housing operating portfolio.

Key facts

• 1CareTrust signed a definitive agreement with LNT Care Developments Holdings Limited to acquire 45 new UK care homes for approximately £1.1 billion. sec.gov
• 2The first closing occurred on October 1, 2026 and included 24 homes for approximately £576 million. sec.gov
• 3CareTrust funded the first investment with settled forward equity agreements and a draw on its revolving credit facility. sec.gov
• 4The remaining 21 homes are under development and are to be acquired for approximately £504 million after completion and regulatory approvals expected on a rolling basis throughout 2027. sec.gov
• 5The homes are to be leased to Crystal Care subsidiaries under triple-net leases with fixed annual escalators and renewal options. sec.gov
• 6CareTrust expects the operating phase to produce a pre-tax all-in yield in the mid- to high-7% range in its first year. sec.gov

Open questions

• The acquisition of the 21 homes under development depends on their completion and regulatory approvals.
• The closing of one completed and operating home remains subject to regulatory approval anticipated in October 2026.