Care Capital Properties Acquires Nine Property Portfolio with Existing Customer Senior Care Centers

Total Transaction Valued at $210 Million

CHICAGO–(BUSINESS WIRE)–Care Capital Properties, Inc. (NYSE: CCP) (“CCP”) today announced that
it has completed the acquisition of eight skilled nursing facilities and
one assisted living facility in Shreveport, Louisiana and simultaneously
entered into a long-term triple-net lease with Texas-based operator
Senior Care Centers, LLC (“SCC”) to operate the acquired portfolio. SCC
concurrently acquired the operations, which also included a
rehabilitative therapy company, four hospice agencies and an interest in
an affiliated pharmacy provider. CCP purchased the assets for
approximately $190 million and made a $20 million five-year, fully
amortizing loan to SCC, resulting in a total transaction value of $210
million. The initial cash lease yield on the properties is 8.25 percent,
and the loan bears interest at a rate of LIBOR plus five percent, which
escalates 25 basis points annually.

“CCP is pleased to be able to grow with SCC, one of our leading
operators. This transaction is an excellent illustration of our strategy
to provide capital to our existing customers to help them expand their
business,” CCP Chief Executive Officer Raymond J. Lewis said. “With our
strong operator relationships and excellent balance sheet, we are poised
to continue to capitalize on the significant opportunities within the
highly fragmented skilled nursing market.”

The acquired portfolio is being leased to SCC pursuant to a 15-year
master lease containing annual rent escalations and two five-year
renewal options. The properties contain a total of 1,174 beds, with an
average occupancy rate of approximately 88 percent and a Q-mix of
approximately 47 percent. Initial EBITDARM coverage for the portfolio is
expected to be approximately 1.7x. As a result of the transaction, SCC
is expected to account for approximately 16 percent of CCP’s net
operating income on a pro forma basis.

“With this acquisition, we are positioned to be the leading, full
service post-acute services provider in the Shreveport market. We will
continue to uphold Senior Care standards in Louisiana as we strive to
meet and exceed patient expectations,” said Mark McKenzie, President and
Chief Executive Officer of SCC. “We are poised to continue our growth
working with trusted partners such as CCP who align with our business
principles and goals.”

Care Capital Properties, Inc. is a healthcare real estate investment
trust with a diversified portfolio of triple-net leased properties
focused on the post-acute sector. Its skilled management team is fully
invested in delivering excellent returns by forging strong relationships
with shareholders, operators and employees. More information about Care
Capital Properties, Inc. can be found at:

This press release includes forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended.
statements regarding CCP’s or its tenants’ or borrowers’ expected future
financial condition or performance, dividends or dividend plans,
business strategies, acquisitions or other investment opportunities,
dispositions, continued qualification as a real estate investment trust
(“REIT”), and plans and objectives of management for future operations
and statements that include words such as “anticipate,” “if,” “believe,”
“plan,” “estimate,” “expect,” “intend,” “may,” “could,” “should,” “will”

and other similar expressions are forward-looking statements. These
forward-looking statements are inherently uncertain, and actual results
may differ from CCP’s expectations. CCP does not undertake a duty to
update these forward-looking statements, which speak only as of the date
on which they are made.

CCP’s actual future results and trends may differ materially from
expectations depending on a variety of factors discussed in its filings
with the Securities and Exchange Commission.
These factors
include without limitation: (a) the ability and willingness of CCP’s
tenants, borrowers and other third parties to satisfy their obligations
under their respective contractual arrangements with CCP, including, in
some cases, their obligations to indemnify, defend and hold harmless CCP
from and against various claims, litigation and liabilities; (b) the
ability of CCP’s tenants and borrowers to maintain the financial
strength and liquidity necessary to satisfy their respective obligations
and liabilities to third parties, including without limitation
obligations under their existing credit facilities and other
indebtedness; (c) CCP’s success in implementing its business strategy
and its ability to identify, underwrite, finance, consummate and
integrate diversifying acquisitions and investments; (d) macroeconomic
conditions such as a disruption of or lack of access to the capital
markets, changes in the debt rating on U.S. government securities,
default or delay in payment by the United States of its obligations, and
changes in the federal or state budgets resulting in the reduction or
nonpayment of Medicare or Medicaid reimbursement rates; (e) the nature
and extent of future competition, including new construction in the
markets in which CCP’s properties are located; (f) the extent of future
or pending healthcare reform and regulation, including cost containment
measures and changes in reimbursement policies, procedures and rates;
(g) increases in CCP’s borrowing costs as a result of changes in
interest rates and other factors; (h) the ability of CCP’s tenants and
operators to comply with laws, rules and regulations in the operation of
CCP’s properties, to deliver high-quality services, to attract and
retain qualified personnel and to attract residents and patients; (i)
changes in general economic conditions or economic conditions in the
markets in which CCP may, from time to time, compete, and the effect of
those changes on CCP’s revenues, earnings and capital sources; (j) CCP’s
ability to pay down, refinance, restructure or extend its indebtedness
as it becomes due; (k) CCP’s ability and willingness to maintain its
qualification as a REIT in light of economic, market, legal, tax and
other considerations; (l) final determination of CCP’s taxable net
income for the year ending December 31, 2015; (m) the ability and
willingness of CCP’s tenants to renew their leases upon expiration,
CCP’s ability to reposition its properties on the same or better terms
in the event of nonrenewal or in the event CCP exercises its right to
replace an existing tenant, and obligations, including indemnification
obligations, CCP may incur in connection with the replacement of an
existing tenant; (n) year-over-year changes in the Consumer Price Index
and the effect of those changes on the rent escalators contained in
CCP’s leases and on CCP’s earnings; (o) CCP’s ability and the ability of
its tenants and operators to obtain and maintain adequate property,
liability and other insurance from reputable, financially stable
providers; (p) the impact of increased operating costs and uninsured
professional liability claims on CCP’s or its tenants’ or operators’
liquidity, financial condition and results of operations, and the
ability of CCP and its tenants and operators to accurately estimate the
magnitude of those claims; (q) risks associated with CCP’s investments
in joint ventures and unconsolidated entities, including its lack of
sole decision-making authority and its reliance on its joint venture
partners’ financial condition; (r) consolidation in the seniors housing
and healthcare industries resulting in a change of control of, or a
competitor’s investment in, one or more of CCP’s tenants, operators or
borrowers, and significant changes in the senior management of CCP’s
tenants, operators or borrowers; (s) the impact of litigation or any
financial, accounting, legal or regulatory issues that may affect CCP or
its tenants, operators, borrowers or managers; and (t) changes in
accounting principles, or their application or interpretation, and CCP’s
ability to make estimates and the assumptions underlying the estimates,
which could have an effect on CCP’s earnings. Many of these factors are
beyond the control of CCP and its management.


Care Capital Properties, Inc.
Lori B. Wittman, 312.881.4702
Vice President and Chief Financial Officer