IRVINE, Calif., May 13, 2016 (GLOBE NEWSWIRE) -- Sabra Health Care REIT, Inc. (NASDAQ:SBRA) (NASDAQ:SBRAP) today provided an update on the auction of the FPMC Fort Worth Realty Partner, LP’s (“FPMC”) real estate. FPMC is the borrower under our Forest Park Medical Center – Fort Worth (“Fort Worth”) construction loan.
On May 12, 2016, an auction was held to sell the Fort Worth hospital and medical office real estate and Texas Health Resources ("THR") was the winning bidder with a purchase price of $116.5 million. A hearing is scheduled for May 19, 2016 to approve the sale to THR. Sabra expects to fully realize all amounts outstanding under the Fort Worth construction loan upon closing of the sale to THR.
ABOUT SABRA
Sabra Health Care REIT, Inc. (NASDAQ:SBRA) (NASDAQ:SBRAP), a Maryland corporation, operates as a self-administered, self-managed real estate investment trust (a "REIT") that, through its subsidiaries, owns and invests in real estate serving the healthcare industry. Sabra leases properties to tenants and operators throughout the United States and Canada.
FORWARD-LOOKING STATEMENTS SAFE HARBOR
This release contains "forward-looking" statements as defined in the Private Securities Litigation Reform Act of 1995. These statements may be identified, without limitation, by the use of "expects," "believes," "intends," "should" or comparable terms or the negative thereof. Forward-looking statements in this release include all statements regarding our expectations concerning our Fort Worth construction loan.
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Source: Sabra Health Care REIT, Inc.