CareTrust REIT Inc. (NYSE: CTRE) announced the completion of approximately $628 million in investments across healthcare properties in the United States and United Kingdom.

The company acquired 15 skilled nursing facilities in California for approximately $380 million in mid-April through off-market transactions with a California-based operator. The portfolio comprises approximately 1,700 beds and is leased back under a long-term triple-net lease with annual rent escalators and purchase options beginning in the ninth year.

CareTrust also originated two loans to affiliates of the seller secured by skilled nursing facilities in California and Washington. The first loan totals $55 million with a five-year term at 8.7% interest, while the second loan of $108 million carries a 9.5% interest rate and is expected to be repaid within one year.

In the UK, the company acquired four care homes for approximately £42 million, comprising 202 beds specializing in mental health and specialist care services. A fifth home will be acquired for approximately £9 million following regulatory approvals. The properties are leased under long-term agreements with inflation-based rent escalators.

Additional investments included one Wyoming skilled nursing facility with 124 beds for approximately $20 million and a $7.5 million loan amendment secured by an Oregon property with 60 senior housing units and 20 skilled nursing beds.

The investments carry a blended stabilized yield of 8.8% and were funded through settled equity forward contracts and the company's revolving credit facility. Including these transactions, CareTrust's year-to-date investment total reaches approximately $990 million across more than a dozen transactions.

Separately, Moody's Ratings assigned CareTrust and its senior unsecured notes an investment grade rating of Baa3 with a stable outlook, citing the company's conservative financial policy and improved business diversification.