About David Sedgwick
Dave Sedgwick, president and CEO of CareTrust REIT, has described the company’s May 2025 acquisition of a UK-based REIT as a “transformative deal.” The $840 million transaction added approximately 135 properties and 14 operators to CareTrust’s portfolio. Sedgwick stated that the acquisition provides “another engine of growth outside of the United States” and diversifies the company’s holdings, which have historically been concentrated in U.S. skilled nursing facilities. He noted that integrating the UK acquisition would occupy the remainder of 2025, with synergies expected to be realized in 2026.
Sedgwick has also pointed to demographic trends as a tailwind for the sector, citing a “silver tsunami” in which the population of 80- and 85-year-olds is expected to double in the coming years. He said there is an “imbalance between supply and demand” in skilled nursing and seniors housing, with facility supply declining. In 2024, Sedgwick highlighted the company’s strong balance sheet, including a fully paid-off $600 million line of credit and low debt-to-EBITDA, as positioning CareTrust for growth while competitors remain on the sidelines. He added that the company is exploring expansion into behavioral health properties and rehab hospitals, and is “looking at seniors housing more seriously” as a potential area for further diversification.
Source: AI-verified profile updated from David Sedgwick's recent appearances.
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Transcript (9 segments)
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David Sedgwick0:00
We've always been very heavy on the skilled nursing side of things, which we love, and we're going to continue to invest in skilled nursing, but to have another profile of growth in the UK for those care homes sets us up for many years of growth.
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Interviewer0:18
I'm here today with Dave Sedwick, president and CEO of Care Trust REIT. Dave, thanks for joining us.
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David Sedgwick0:24
Happy to be here.
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Interviewer0:26
What are some of the most important tailwinds for the healthcare real estate sector today?
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David Sedgwick0:30
Well, there's a couple things. One, there is a real imbalance between supply and demand, meaning that there's much more demand for the skilled nursing and seniors housing product than there is today. In skilled nursing, the supply of facilities has actually been on the decline while we're entering into this multi-decade phase of growth in that demographic. We have the silver tsunami where 80 and 85 year olds are going to be doubling in the amount over the course of the coming years. And so if you think about the big trends, it's hard to find an asset class of real estate that is better positioned than seniors housing and skilled nursing for this demographic wave.
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Interviewer1:21
And can you point to an interesting transaction or development that will be impactful for Care Trust REIT in 2025 and beyond?
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David Sedgwick1:29
Yes. Just a couple of weeks ago, well let's see, May 9th, we announced a real transformative deal for Care Trust. Up until this year, we've been skilled nursing and seniors housing just here in the United States. But on May 9th, we closed on an acquisition of a UK-based REIT. So, London listed, about 850, $840 million in size, 14 operators, about 135 properties, sort of 10 years of investment work done all in one day. It's super exciting for us because what that does is really two things. It gives us another engine of growth outside of the United States and it also diversifies the portfolio. We've always been very heavy on the skilled nursing side of things which we love and we're going to continue to invest in skilled nursing, but to have another profile of growth in the UK for those care homes sets us up for many years of growth.
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Interviewer2:40
And what do you see as the biggest opportunities for Care Trust REIT in the next six to 12 months?
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David Sedgwick2:45
Well, it's one we're integrating that UK acquisition. That will probably take the rest of this year to get that really buttoned up, realize all the synergies going into 2026. And then it's just to continue to execute on our existing pipeline. Lastly, I would say we're also looking at seniors housing more seriously than we have for some time. We've been putting a lot of work into it. Like I said, we're mostly skilled nursing, but just like we've diversified with in the UK, I could see us diversifying a little bit more with more of a seniors housing component as well.
