Effective February 1, 2026, Ensign’s captive real estate vehicle, Standard Bearer Healthcare REIT, acquired the land and buildings of The Chateau Waco, a 123-bed skilled nursing facility in Waco, Texas. Operations have been leased to an Ensign-affiliated tenant under a long-term agreement. This transaction marks Ensign’s fourth acquisition in Texas since 2024 and was structured to optimize tax efficiency through the REIT-operator model, preserving capital for future growth and aligning real estate ownership with operational expertise.

On the same day, Ensign closed three additional transactions: the purchase of 106 beds at Wylie Oaks Healthcare and Rehabilitation in Wylie, Texas; an 80-bed facility in Littlefield, Texas; and a 48-bed center in Stevens Point, Wisconsin. Each property was acquired by a Standard Bearer subsidiary and leased back to Ensign affiliates. These deals collectively add 357 beds to Ensign’s portfolio and expand its REIT-owned asset base by four properties in two high-growth regions.

With these acquisitions, Ensign’s network now encompasses 378 healthcare operations across 17 states, including 47 senior living communities and 160 real estate assets held by Standard Bearer. Management reaffirmed its pursuit of yield-accretive real estate investments and leasebacks to drive predictable rental income and support operating margin expansion. Investors should note that clustered facility clustering in Texas delivers scale economies in staffing and supply purchasing, while the Wisconsin addition strengthens market diversification in the Midwest.