Sabra Health Care REIT on Dec. 22 completed the sale of 20 skilled nursing facilities leased to Kennett Square, Pa.-based Genesis HealthCare.
Sabra sold the facilities, which were located in Indiana, Ohio and Kentucky, for $103.3 million. The identities of the buyers were not disclosed. As a result of the sale, Genesis' annual rent obligations to Sabra will be lowered by $9.3 million.
The 20 SNFs are part of a group of 35 Genesis facilities Sabra agreed to sell in 2017.
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