Healthcare Real Estate Owner Sabra Makes First Buy

By Vita Reed for Orange County Business Journal

Irvine healthcare real estate investor Sabra Health Care REIT Inc. said Thursday that it made its first deal since its November spinoff from Sun Healthcare Group Inc.

Sabra is paying $62.7 million for the Texas Regional Medical Center of Sunnyvale, a 70-bed hospital in a Dallas suburb.

Texas Regional, which opened in 2009, is leased to Texas Regional Medical Center Ltd., a group that includes 75 doctors who practice there.

The buy is expected to close during the second quarter.

Buying Texas Regional “serves as the first step toward diversifying away from our primary tenant as well as broadening our (property) base,” Sabra Chief Executive Richard Matros said.

Sun, which is also based in Irvine, is the primary tenant of Sabra. Sabra owns 86 other properties with a total of 9,603 beds in 19 states.

[ocbj.com]

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