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Care Investment Trust Inc. Announces a $100.8 Million Investment in a Portfolio of Senior Housing Facilities.

Publication: PR Newswire
Publication Date: 02-JUL-08 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
Acquisition of 12 Assisted Living, Independent Living & Alzheimer's Facilities located in Illinois, Indiana, Iowa and Nebraska

NEW YORK, July 2 /PRNewswire-FirstCall/ -- Care Investment Trust Inc. ("Care" or "Company"), today announced that its wholly owned subsidiary, Care YBE Subsidiary LLC ("Care YBE"), acquired 12 senior housing facilities from affiliates of Eby Realty Group, L.L.C. for $100.8 million. The transaction closed on Thursday, June 26, 2008. An affiliate of Bickford Senior Living Group, L.L.C. ("Bickford") master leased the facilities from Care YBE for 15 years with four 10-year renewal options. Each facility has been subleased to the original seller/operator of the facility.

F. Scott Kellman, President and Chief Executive Officer of Care, stated, "Bickford's dedication to quality care has garnered the Eby family an unparalleled reputation in senior housing. We are extremely gratified that the Ebys have chosen to partner with Care to drive their growth strategy."

Joe Eby, Chief Operating Officer of...

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