IRVINE, Calif., June 20, 2016 (GLOBE NEWSWIRE) -- Sabra Health Care REIT, Inc. (NASDAQ:SBRA) (NASDAQ:SBRAP) announced that on June 17, 2016, the borrowers under our Forest Park Medical Center – Dallas (“Dallas”) mortgage loan completed the previously announced sale of the Dallas real estate to an affiliate of HCA Holdings, Inc. (“HCA”) and have repaid our mortgage loan in full.
In connection with the sale of the Dallas real estate to HCA, we received $125.4 million, consisting of the outstanding principal balance on the Dallas mortgage loan of $110.0 million and $15.4 million of accrued and unpaid interest and fees. We expect to use the proceeds to make additional payments on our revolving credit facility and to finance future investments.
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 use of net proceeds from the Dallas mortgage repayment sale.
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Source: Sabra Health Care REIT, Inc.