Omega Healthcare closes $293 million purchase of CapitalSource long-term care facilities

Omega Healthcare closes $293M facilities purchase

HUNT VALLEY, Md. — Real estate investment trust Omega Healthcare Investors Inc. on Wednesday said it closed its $293 million cash purchase of 63 long-term care facilities from CapitalSource Inc.

The deal was announced in November. The facilities have a total of 6,607 beds in 19 states and are part of 30 leases among 18 operators. The 30 leases generate about $34 million per year in revenue.

CapitalSource said $261 million of the payout was used to repay debt associated with the facilities sold.

The companies have one remaining transaction planned, the sale of 40 long-term care facilities to Omega for $270 million. The deal requires approval from the Department of Housing and Urban Development for Omega to assume $204 million in mortgages the agency holds on the facilities.

Omega shares rose 3 cents to close at $18.88. CapitalSource shares closed up 11 cents, or 2.8 percent, at $4.04.