CareTrust REIT completes £576 million purchase of 24 UK care homes from LNT
The deal is the first tranche of a near-£1.1 billion agreement covering 45 care homes, with an option for CareTrust to acquire LNT outright by September 2027
Published
CareTrust REIT has completed the purchase of 24 care homes in England and Wales from LNT Care Developments Holdings for about £576 million, or roughly $764 million. The deal, done through its subsidiary CareTrust UK Limited, took effect on October 1, 2026.
The acquisition is the first part of a wider agreement covering 45 care homes for a combined price of about £1.1 billion. The remaining 21 homes, still under development, will be bought for around £504 million, or about $669 million, on a rolling basis through the end of 2027. The homes will be leased to subsidiaries of Crystal Care Homes Holdco under triple-net leases guaranteed by LNT. CareTrust also has options to later acquire the operating companies and move the properties onto a senior housing operating structure, and LNT has granted CareTrust an option, exercisable through September 2027, to acquire LNT in its entirety.
Alongside the acquisition, CareTrust raised its full year 2026 guidance. It now expects net income attributable to the company of about $1.54 to $1.57 per share, Normalized FFO of about $2.06 to $2.09 per share, and Normalized FAD of about $2.02 to $2.05 per share.
The purchase takes CareTrust beyond the US skilled nursing and senior housing business that has anchored its portfolio, extending its triple-net lease model into England and Wales through a commitment approaching £1.1 billion. The combination of future conversion rights and the option to acquire LNT outright points to an attempt to build a lasting operating platform abroad rather than a single property deal. That the first tranche closed on schedule, while full year guidance for net income, Normalized FFO and Normalized FAD moved higher at the same time, suggests the company is absorbing the deal without cutting into near-term earnings expectations.