London-based Care REIT¸ which invests in a portfolio of healthcare real estate assets, has agreed terms on a deal to be acquired by the New York-listed CareTrust REIT.

CareTrust will pay 108p per share if Care REIT’s shareholders agree to the deal.

Care REIT’s assets are valued at approximately £673m.

Portfolio Adviser reported that the CRT board said in a stock exchange announcement that it has suffered from recent market issues affecting the wider real estate and investment trust sectors, including a persistent and wide discount to net asset value, investors’ cost of capital increasing with a higher interest rate background, and ‘reduced access to equity capital markets, especially for smaller market capitalisation stocks’.