09:35 AM EDT, 04/02/2024 (MT Newswires) -- CareTrust REIT ( CTRE ) said Tuesday it has purchased three continuing-care retirement communities in southern California for a combined $60.3 million.

The three properties are located in Los Angeles, Orange and San Diego counties. They include assisted living, skilled nursing, and memory care units for up to 475 patients and will be operated by an existing CareTrust tenant in the region, Bayshire Senior Communities.

CareTrust acquired the two facilities in the greater Los Angeles area through a joint venture with an unnamed health care real estate investor. CareTrust is the managing member of the partnership, providing $28 million in common and preferred equity for the deal.

The real estate investment trust paid $32.3 million for the Torrey Pines Senior Living facility in San Diego, it said.

CareTrust shares were more than 3% higher late in Tuesday's pre-trade activity.

Price: 24.99, Change: +0.75, Percent Change: +3.09