Lender completes nursing-home sale
CapitalSource said it completed the sale of 37 skilled nursing homes, the final step of a wider sale of its net lease portfolio.
The Chevy Chase, Md., commercial lender said the sale marks its exit from nursing home ownership.
It will continue to provide financing for the industry.
The proceeds will be used in part to repay $55 million in debt associated with the nursing homes.
The company expects to generate about $495 million from asset sales when all its deals are closed, including $331 million from a recently announced sale of 143 facilities to Omega Healthcare Investors.
CapitalSource shares rose 12 cents, to $3.79.
— Associated Press