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News Breaks | | | | November 2, 2012 | | 09:27 EDT |  | AVI | Aviv REIT acquires skilled nursing facility for $7.6M
Aviv announced that it has acquired a post-acute and long-term care skilled nursing facility, or SNF, located in Wisconsin for $7.6M. The property will be triple-net leased to NuCare Services Corporation, a new tenant relationship for Aviv. NuCare is an operator of SNFs and senior housing communities in the United States, with 26 facilities located in 3 states. The triple-net lease has a 10-year term, an initial cash yield of 10% and an annual compounded escalator based on CPI. The transaction closed on October 31 and was funded with cash on hand. | |
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