Real estate investment trust Omega Healthcare said it has exercised its option to acquire 63 long-term-care facilities from affiliates of CapitalSource, a Chevy Chase, Md.-based commercial lender, for about $295 million. The deal, which is expected to close in June 2010, includes about $34 million in cash to sellers and the repayment of about $261 million in debt. Located in 19 states, the facilities are part of 30 in-place, triple-net leases spread out among 18 operators. The leases generate annual revenue of about $34 million, according to Hunt Valley, Md.-based Omega Healthcare.
In a news release, Omega said it acquired the option to purchase the facilities in connection with its previously announced securities purchase agreement with CapitalSource, in which Omega acquired entities that owned 40 facilities in December 2009 and has agreed to purchase 40 other facilities subject to receiving consent from the Housing and Urban Development Department. The deal is still subject to closing conditions.
As of Dec. 31, 2009, Omega Healthcare owned or held mortgages on 293 skilled-nursing facilities, assisted-living facilities and other specialty hospitals with about 34,300 beds in 32 states and operated by 35 third-party healthcare operating companies.
