Omega Healthcare Investors, Inc. acquired Four Skilled Nursing Facilities in West Virginia for $114.8 million.
August 01, 2023
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Omega Healthcare Investors, Inc. (NYSE:OHI) acquired Four Skilled Nursing Facilities in West Virginia for $114.8 million on April 14, 2023. The company leased them to an existing operator. The four SNFs were added to the master lease of the operator with an initial annual cash yield of 9.5%, with 2.5% annual escalators. Concurrent with the acquisition, the Company loaned an additional $104.6 million to the operator, primarily for the purpose of financing the operator?s purchase of 13 additional West Virginia SNFs. The loans have a yield of 12%.
Omega Healthcare Investors, Inc. (NYSE:OHI) completed the acquisition of Four Skilled Nursing Facilities in West Virginia on April 14, 2023.
Omega Healthcare Investors, Inc. is a real estate investment trust (REIT). The Company operates through a single segment, which invests in healthcare-related real estate properties located in the United States and the United Kingdom. Its core business is to provide financing and capital to the long-term healthcare industry with a particular focus on skilled nursing facilities (SNFs), assisted living facilities (ALFs), and to a lesser extent, independent living facilities (ILFs), rehabilitation and acute care facilities (specialty facilities) and medical office buildings (MOBs). Its core portfolio consists of its long-term leases and real estate loans with healthcare operating companies and affiliates. In addition, the Company makes loans to operators and/or their principals. The Company's portfolio of real estate investments includes over 891 healthcare facilities, located in 42 states and the United Kingdom that are operated by 74 third-party operators.