Omega Healthcare Investors Inc. sold the majority of its struggling Gulf Coast Health Care facilities for more than $300 million, the company shared Monday. The real estate investment trust (REIT) sold 22 previously leased and operated Gulf Coast facilities for $318 million in cash, according to a news release. The net cash proceeds, including related […]
Omega Healthcare Investors
Six months after Gulf Coast Health Care filed for bankruptcy, the skilled nursing operator with 28 facilities in Florida, Georgia and Mississippi announced the company has since dissolved. “Gulf Coast Health Care was a leading provider in the long term industry serving in the Southeastern United States. Having operated numerous skilled nursing and assisted living […]
While the Biden administration is seemingly trying to push private equity out of the skilled nursing sector, there seems to be growing confusion and frustration on how blaming such a small fraction of the overall sector is going to solve some of the challenges the industry currently faces. The skilled nursing market has been one […]
As skilled nursing facilities continue to face financial constraints brought on by the pandemic, Omega Healthcare Investors (NYSE: OHI) wants to help support its operators’ technological improvements by investing in the space. Through a partnership with MyndVr, a leading virtual reality provider, the real estate investment trust (REIT) will bring virtual reality experiences to its […]
Conditions stemming largely from the omicron variant of Covid-19 have halted the recovery process for one of the nation’s largest owners of skilled nursing facilities, Omega Healthcare Investors (NYSE: OHI). Luckily, omicron has not exacted too steep a toll on residents’ health, but it has created severe staffing challenges and suppressed occupancy; resulting liquidity issues […]
After skilled nursing occupancy recovery declined in September for the first time in seven months, some analysts are concerned that consistent staffing shortages will impact the real estate investment trusts who are landlords to operators nationwide, at least in the near-term, according to a Dec. 8 note from BMO Capital Markets. National data collected from […]
Fall management technology company SafelyYou raised $30 million in a Series B funding round, bolstered by Omega Healthcare Investors (NYSE: OHI). Omega also prepaid $10 million so the real estate investment trust’s 944 senior living and skilled nursing facilities could utilize its SafelyYou technology, which uses artificial intelligence-enabled video to detect falls and record them. […]
Operators continue to face liquidity and workforce shortage issues at this point in the pandemic, Omega Healthcare Investors (NYSE: OHI) told shareholders during its third quarter earnings call on Friday, but anticipated Provider Relief Funds (PRF) and state initiatives will offset costs when they arrive. Florida’s nearly $100 million funding initiative for nursing homes, along […]
An operator with 28 skilled nursing facilities in Florida, Georgia and Mississippi has filed for Chapter 11 bankruptcy, citing “significant fiscal challenges” stemming from the COVID-19 pandemic. Pensacola, Fla.-based Gulf Coast Health Care LLC reported in documents filed in U.S. Bankruptcy Court for the District of Delaware that it has reached a proposed restructuring support […]
Another operator is unable to pay rent to Omega Healthcare Investors (NYSE: OHI), bringing the total number to three — two operators had stopped paying rent earlier this year. The three operators make up about 8.6% of the Maryland-based real estate investment trust’s (REIT) third quarter contractual rent and mortgage payments, according to a report […]
The average price per bed for nursing homes rose almost 22% year over year for the first quarter of 2021, as staffing shortages and slow occupancy recovery has done little to cool an already heated market, leaving some real estate investment trusts most active in the space disconcerted of what the future may hold. “If […]
Omega Healthcare Investors (NYSE: OHI) operators face uncertain timing of their occupancy recovery as labor shortages and delays in federal funding continue across the industry, CEO Taylor Pickett said on the real estate investment trust’s (REIT) second-quarter earnings call. In June Omega announced that a Florida operator, representing $30 million or 3% of Omega’s annual […]
Omega Healthcare Investors (NYSE: OHI) may provide summertime rent relief to one of its skilled nursing tenants, as the delay in federal financial relief is causing strains on operators. The Florida-based operator told the Maryland-based real estate investment trust (REIT) that it would need help with its June rent, roughly $2.5 million, according to a […]
The private sector has become more interested in investing in skilled nursing assets this past year into 2021, thanks to less competition from the public sector and (in some cases) distressed sales due to the pandemic. Public skilled nursing facility (SNF) owners like LTC Properties, Welltower Inc. and Omega Healthcare, meanwhile, are less inclined to […]
Though skilled nursing occupancy continues to tick upwards, the growth decelerated recently, which could have significant implications for the real estate investment trusts who are landlords to operators across the U.S., according to a June 6 note from BMO Capital Markets. The national data collected from nursing homes by the Centers for Medicare & Medicaid […]
Omega Healthcare Investors (NYSE: OHI) was able to collect “virtually all” of its contractual rent for the first quarter, CEO Taylor Pickett said on the real estate investment trust’s first-quarter earnings call. However, he added that without more government aid, many long-term care operators are likely to feel the effects of the costs stemming from […]
CareTrust REIT (Nasdaq: CTRE) acquired the Buena Vista Care Center, a 150-bed skilled nursing facility in Santa Barbara, Calif., for about $15.9 million, including transaction costs, the real estate investment trust announced March 9. The facility will continue to be operated by Covenant Care under a long-term lease assumed by the San Clemente, Calif.-based CareTrust […]
Diversicare Healthcare Services (OTC: DVCR) this week reported a financial boost from its decision to outsource therapy services, along with a significant cache of stimulus funds waiting for deployment. The Brentwood, Tenn.-based nursing home operator in November announced a shift from its wholly-owned Diversicare Therapy Services to Reliant Rehabilitation, a move that Jay McKnight predicted […]
The COVID-19 vaccines being distributed in skilled nursing and long-term care facilities constitute a light at the end of the tunnel, at least in terms of the clinical ravages inflicted in SNFs and other institutional settings. But it’s far from clear what effect that will have on the number of patients and residents in those […]
A major skilled nursing and senior living landlord on Friday pushed back on a pair of recent industry storylines hinting at future declines in demand for institutional care, pointing to positive demographic shifts on the horizon. Executives at Omega Healthcare Investors (NYSE: OHI) acknowledged the trend toward sending post-acute patients straight into home health during […]
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