Sabra re-tenants 26 Avamere properties at 30% rent increase, settles RCA mortgage at $200M discount

Filed July 21, 2026 · Period ending July 21, 2026 · ~1 min read

Key Changes

• high

  Re-tenanting all 26 Avamere properties to Cascadia Healthcare (22 properties) and existing tenant (4 properties), increasing annualized cash rent from to $53M (nearly 30% increase), expected to close in second half of 2026.

  Exhibit 99.1 view on EDGAR →
• high

  Settled $300M RCA mortgage for $200M cash on June 30, 2026, accepting $100M discount for early satisfaction. Proceeds reduced revolver borrowings, lowering Net Debt to EBITDA from 5.0x to 4.8x and behavioral health concentration from 13% to of annualized cash NOI.

  Exhibit 99.1 view on EDGAR →
• high

  Raised full-year 2026 guidance: Normalized FFO $1.53-$1.55 per share (midpoint $1.54, up 7% over 2025) and Normalized AFFO $1.59-$1.61 per share (midpoint $1.60, up 8% over 2025).

  Exhibit 99.1 view on EDGAR →