HCR ManorCare Inc.’s landlord, publicly traded real-estate investment trust Quality Care Properties Inc., sued to remove the management of the operator of skilled-nursing and assisted-living facilities and replace them with a court-appointed receiver, the Wall Street Journal reported. QCP’s move follows months of frustration over unpaid rent at HCR ManorCare, even after the REIT made a deal with the skilled-nursing-facility operator on its rent in April. HCR ManorCare manages 292 skilled-nursing and assisted-living facilities. For its part, HCR ManorCare says that it is spending all of its free cash flow in rent to QCP, a spokesman for the company said. Now QCP wants the court to appoint a receiver who will have the power to collect rent from Carlyle Group-owned HCR ManorCare, according to a lawsuit filed in a California court last week.
