Sabra Health Care acquires portfolio of 21 independent living facilities Sabra Health Care announced that on September 25, it completed the acquisition of 21 independent living facilities, located in 15 states, from affiliates of Holiday Acquisition Holdings for a total cash purchase price of $550M. Concurrently with the acquisition, the company entered into a triple-net master lease agreement with certain wholly-owned subsidiaries of Holiday Tenant. The master lease has an initial term of 15 years with two five-year renewal options and provides for base rent in the first year of approximately $30.3<, with annual rent increases of 4.0% in years two and three and the greater of 3.5% or CPI during the remainder of the lease term. The master lease is expected to generate annual lease revenues determined in accordance with GAAP, of $39.3M and an initial yield on cash rent of 5.50%. The company also expects to close on approximately $100M in sale/leaseback transactions over the next 60 days.