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SAN CLEMENTE, Calif., Aug. 31, 2017 -- As flooding continues in Houston and along the Texas Gulf Coast, CareTrust REIT, Inc. (NASDAQ:CTRE) provided an update on the status of its assets in the region.
“Our first thoughts are for the people, especially the residents, patients and caregivers, who live and work in those healthcare facilities,” said Greg Stapley, CareTrust REIT’s Chairman and Chief Executive Officer. “We wish them the best, and acknowledge that no one has been untouched by these events.”
Mr. Stapley reported that all CareTrust REIT assets in the region have thus far escaped flooding and other material damage. Seven of CareTrust REIT’s 164 properties are located directly in the areas hit hardest flooding and high winds, but only The Courtyard Rehabilitation and Healthcare Center, a 56-bed skilled nursing facility in Victoria, Texas which is operated by an affiliate of The Ensign Group (NASDAQ:ENSG), was materially impacted by the storm.
While the Victoria facility suffered no flooding and incurred only minor wind damage, widespread utility outages in the Victoria area necessitated the evacuation of the facility’s 48 residents to other Ensign-affiliated skilled nursing facilities in San Antonio, about two hours away. Ensign officials reported that the temporarily-displaced residents are doing fine, and will return to Victoria in the coming weeks as power and other essential services are restored to the area.
“The swiftness and efficiency with which Ensign’s local care teams responded to the crisis was not surprising,” said Mr. Stapley. “Their outstanding leaders and caregivers first ensured the safety and comfort of their patients, and then quickly pivoted to helping fellow employees and their families,” he added. Both CareTrust REIT and Ensign officials continue to monitor the situation for potential threats to patients, employees and property, and for opportunities to help others affected by high water, winds and utility outages.
About CareTrust REITTM
CareTrust REIT, Inc. is a self-administered, publicly-traded real estate investment trust engaged in the ownership, acquisition and leasing of seniors housing and healthcare-related properties. With 164 net-leased healthcare properties and three operated seniors housing properties in 23 states, CareTrust REIT is pursuing opportunities nationwide to acquire additional properties that will be leased to a diverse group of local, regional and national seniors housing operators, healthcare services providers, and other healthcare-related businesses. More information about CareTrust REIT is available at www.caretrustreit.com.
Contact: CareTrust REIT, Inc. (949) 542-3130 [email protected]
