Sabra increases 2026 guidance after re-tenanting Avamere portfolio, cuts RCA mortgage to $200M

Sabra announced a business update boosting full-year 2026 guidance after re-tenanting Avamere properties and resolving the RCA mortgage.

Key Highlights:

• Entered LOIs to re-tenant all 26 Avamere-leased properties; 22 to Cascadia and 4 to an existing national tenant.
• Combined annualized cash rent on transitioned portfolio expected at $53M, ~30% above prior $41M TTM cash rent.
• Completed or agreed portfolio initiatives to raise cash NOI by over $9M run-rate vs. the 12 months ended Mar 31, 2026.
• RCA mortgage repaid with reduced cash repayment of $200M (vs. $300M), closed June 30, 2026; Net Debt/EBITDA pro forma fell from 5.0x to 4.8x.
• Raised full-year 2026 per-share ranges: Net income $0.37–$0.39; Normalized FFO $1.53–$1.55; Normalized AFFO $1.59–$1.61.

Original SEC Filing:

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