Omega Healthcare Investors Inc

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Real Estate Investing, Investment Management

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32 Years

in Business

(410) 427-1700Call Visit WebsiteVisit Website Map & DirectionsDirections303 International CirCockeysville, MD 21030 Write a ReviewWrite Review

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General Info

Omega Healthcare Investors is a self-administered real estate investment trust that invests in income producing health care facilities, principally long-term care facilities located in the United States. It provides lease or mortgage financing to qualified operators of skilled nursing facilities and, to a lesser extent, assisted living facilities, rehabilitation and acute care facilities. As of Dec. 31, 2005, the company's portfolio of investments consisted of nearly 230 health care facilities located in more than 25 states and operated by approximately 35 third-party operators. This portfolio was made up of nearly 200 long-term health care facilities and two rehabilitation hospitals owned and leased to third parties and fixed-rate mortgages on more than 30 long-term health care facilities. Omega Healthcare Investors is headquartered in Timonium, Md.

Extra Phones

Phone: (410) 771-1954

Fax: (410) 427-8800

TollFree: (866) 226-6342

Other Links

http://www.omegahealthcare.com

https://www.omegahealthcare.com

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Real Estate Investing, Investment Management

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Phone: (410) 427-1700

Address: 303 International Cir, Cockeysville, MD 21030

Website: http://www.omegahealthcare.com

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Omega Healthcare Investors Inc

Charitable Giving
With a focus on supporting communities to prosper and grow through building community spaces, creating resident interaction, community engagement, charitable giving, and collaborating with partners.
Estate Taxes
Real Estate Taxes
Certain operators are obligated to pay directly their obligations under their leases for real estate taxes, insurance and certain other expenses. These obligations, which have been assumed by the tenants under the terms of their respective leases, are not reflected in our consolidated financial statements. To the extent any tenant responsible for these obligations under their respective lease defaults on its lease or if it is deemed probable that the tenant will fail to pay for such costs, we would record a liability for such obligation.
Income Tax
Net Income – Net income for the quarter ended December 31, 2023 totaled $56.5 million, an increase of $9.8 million over the same period in 2022. The increase primarily resulted from the aforementioned (i) $94.5 million increase in total revenue and (ii) $82.2 million decrease in total expenses, that was partially offset by (i) a $162.9 million decrease in other income and expense and (ii) a $3.1 million increase in income tax expense.

Investment Management
Since December 2012, Mr. Plavin has been a Senior Managing Director of the Blackstone Group. Mr. Plavin currently oversees Blackstone’s commercial real estate lending and debt investing activities in Europe. Previously, from when he joined Blackstone until June 2021, Mr. Plavin was the Chief Executive Officer and a Director of Blackstone Mortgage Trust, Inc., an NYSE- listed commercial mortgage REIT that is managed by Blackstone. Prior to joining Blackstone, Mr. Plavin served as CEO of Capital Trust, Inc. (predecessor of Blackstone Mortgage Trust), since 2009. From 1998 until 2009, Mr. Plavin was Chief Operating Officer of Capital Trust and was responsible for all of the lending, investing and portfolio management activities of Capital Trust, Inc. Prior to that time, Mr. Plavin was employed for 14 years with Chase Manhattan Bank and its securities affiliate, Chase Securities Inc. Mr. Plavin held various positions within the real estate finance unit of Chase, and its predecessor, Chemical Bank, and in 1997 he became co-head of global real estate for Chase. Mr. Plavin was also the Chairman of the Board of Directors of WCI Communities, Inc. (NYSE:WCIC), a publicly-held developer of residential communities from August 2009 until it was purchased by Lennar Corporation (NYSE:LEN and LEN.B) in February 2017.

Accounting Services
Cash Flow Analysis
Mortgages and other investments are valued using a discounted cash flow analysis, using interest rates being offered for similar loans to borrowers with similar credit ratings.

Long Term Care
Omega’s actual results may differ materially from those reflected in such forward-looking statements as a result of a variety of factors, including, among other things: (i) uncertainties relating to the business operations of the operators of Omega’s properties, including those relating to reimbursement by third-party payors, regulatory matters and occupancy levels; (ii) the long-term impacts of the Novel coronavirus (“COVID-19”) pandemic on our business and the business of our operators, including without limitation, the levels of staffing shortages, increased costs and decreased occupancy experienced by operators of skilled nursing facilities (“SNFs”) and assisted living facilities (“ALFs”) arising from the pandemic, the ability of our operators to comply with infection control and vaccine protocols and to manage facility infection rates or future infectious diseases, and the sufficiency of government support and reimbursement rates to offset such costs and the conditions related thereto; (iii) additional regulatory and other changes in the healthcare sector, including federal minimum staffing requirements for SNFs that may further exacerbate labor and occupancy challenges for Omega’s operators; (iv) the ability of any of Omega’s operators in bankruptcy to reject unexpired lease obligations, modify the terms of Omega’s mortgages and impede the ability of Omega to collect unpaid rent or interest during the pendency of a bankruptcy proceeding and retain security deposits for the debtor’s obligations, and other costs and uncertainties associated with operator bankruptcies; (v) Omega’s ability to re-lease, otherwise transition or sell underperforming assets or assets held for sale on a timely basis and on terms that allow Omega to realize the carrying value of these assets; (vi) the availability and cost of capital to Omega; (vii) changes in Omega’s credit ratings and the ratings of its debt securities; (viii) competition in the financing of healthcare facilities; (ix) competition in the long-term healthcare industry and shifts in the perception of various types of long-term care facilities, including SNFs and ALFs; (x) changes in the financial position of Omega’s operators; (xi) the effect of economic and market conditions generally, and particularly in the healthcare industry; (xii) changes in interest rates or the impact of inflation; (xiii) the timing, amount and yield of any additional investments; (xiv) changes in tax laws and regulations affecting REITs; (xv) the potential impact of changes in the SNF and ALF market or local real estate conditions on the Company’s ability to dispose of assets held for sale for the anticipated proceeds or on a timely basis, or to redeploy the proceeds therefrom on favorable terms; (xvi) Omega’s ability to maintain its status as a REIT; (xvii) the effect of other factors affecting our business or the businesses of Omega’s operators that are beyond Omega’s or operators’ c
Asset Management
Our asset management team seeks to monitor and enforce these contractual requirements, through both Omega personnel and third-party inspectors periodically visiting our properties. These visits focus on ensuring that our properties are being suitably maintained and sometimes result in corrective repair and replacement recommendations. We require that these corrections and replacements comply with local building codes, which often results in the incorporation of sustainable improvements into our properties.

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