Real estate acquisition and leaseback

Omega Healthcare Investors

Our attorneys represented real estate investment trust Omega Healthcare Investors Inc. in its acquisition and leaseback transaction concerning 18 care home facilities in the UK with Gold Care Holdings Limited, a provider of care home and domiciliary care services to the elderly in the UK. The transaction, which closed on May 11, 2017 for approximately $133 million, continues Omega’s expansion in the UK. Omega has now acquired a total of 53 care home facilities in the UK. Gold Care Homes is the second care home operator to be backed by Omega in the UK and this transaction follows similar transactions involving 35 care home facilities with its other UK care home operator.

Omega provides financing and capital to the long-term healthcare industry with a particular focus on skilled nursing facilities located in the United States and the United Kingdom. Omega has a portfolio of investments, including over 1,000 properties located in 42 states and the UK, which are run by 77 different operators and has a market cap of $6.7 billion.

“We congratulate Omega on its continuing expansion into the UK care home market,” said New York Corporate Partner John Fallon, who led the transaction. “Gold Care Homes will provide an excellent platform for future growth by way of further acquisition and lease back transactions and also capital expenditures for their facilities.”

London Corporate Partner Sean Scanlon, who led the UK-based team, added: “We’re delighted to have once again been able to leverage Arnold & Porter Kaye Scholer’s US and UK experience to help Omega successfully close this transaction and expand its investments and presence in the UK market.”

Dan Booth, Chief Operating Officer of Omega, commented: “The team at Arnold & Porter Kaye Scholer continues to provide us with invaluable advice and expert guidance throughout each of our UK care home transactions. They continue to act as a key driver in our activity in the UK health care market with their understanding and ownership of the transactions.”

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