San Clemente, Calif.-based CareTrust REIT has acquired 46 skilled nursing and assisted living facilities in the Midwest for approximately $97 million.

The acquisition was coordinated through the bankruptcy proceedings of the seller, according to a Dec. 9 news release from CareTrust.

A large skilled nursing investor and operator will sublease the facilities to several licensed operators, the release said.

CareTrust also closed on 14 of the 31 facilities it is acquiring through a $500 million joint venture agreement in Tennessee and Alabama.