MedEquities Realty Trust Closes Acquisition Of Skilled Nursing Facility From Prospect Medical Holdings For $10 Million

NASHVILLE, Tenn., July 5, 2017 /PRNewswire/ -- MedEquities Realty Trust, Inc. (NYSE: MRT) announced that on June 30, 2017, the Company closed the previously announced acquisition of Woodlake at Tolland Nursing & Rehabilitation Center, a skilled nursing facility, from a wholly owned subsidiary of Prospect Medical Holdings, Inc. for an aggregate cash purchase price of $10 million. MedEquities leased the facility to Prospect ECHN Eldercare Services, Inc. pursuant to a 12-year triple-net lease at an initial lease rate of 9.0% with annual escalators. Prospect Medical Holdings and Prospect ECHN provided a guaranty for the lease.

Woodlake at Tolland is a three-story, free-standing skilled nursing facility located in Tolland, Connecticut approximately 20 miles northeast of Hartford.  The facility contains approximately 65,000 square feet and is licensed for 130 beds.

About MedEquities Realty Trust

MedEquities Realty Trust (NYSE: MRT) is a self-managed and self-administered real estate investment trust that invests in a diversified mix of healthcare properties and healthcare-related real estate debt investments. The Company's management team has extensive industry experience in acquiring, owning, developing, financing, operating, leasing and monetizing many types of healthcare properties and portfolios. MedEquities' strategy is to become an integral capital partner with high-quality and growth-oriented facility-based providers of healthcare services on a nationwide basis, primarily through net-leased real estate investment. For more information, please visit www.medequities.com.

Forward-Looking Statements

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SOURCE MedEquities Realty Trust, Inc.