Consulate Health Care Acquires 3 Florida Nursing Homes From Omega Healthcare Investors For $38M

Omega Healthcare Investors Inc. recently completed the sale of three nursing home properties in Florida for a total of over $38 million. The properties included a 180-bed facility located in Winter Garden, a 65-bed facility in South Daytona, and a 70,298-square-foot nursing center in Hollywood. These sales indicate continued activity in the senior housing market, which has been experiencing a recovery in occupancy rates following the challenges posed by the COVID-19 pandemic.

Summary of transaction details:

• Property Type: Nursing Home
• Transaction Amount: $38,000,000
• Address: 15204 West Colonial Drive, 650 Reed Canal Road & 4200 Washington Street
• Market: Winter Garden, South Daytona & Hollywood
• Buyer: Consulate Health Care; 650 Reed Canal Road FL Owner LLC; Hillcrest Propco LLC - Bent Philipson
• Seller: Omega Healthcare Investors Inc. - Taylor Pickett
• Beds: 485
• Price Per Bed (PPB): $78,351

Omega Healthcare Investors Inc. (NYSE: OHI) sold these nursing home properties to Consulate Health Care, 650 Reed Canal Road FL Owner LLC, and Hillcrest Propco LLC. The buyer's representative, Bent Philipson, played a significant role in the transaction. The seller, Taylor Pickett, represented Omega Healthcare Investors Inc. These sales highlight the continued interest and investment in the senior housing market, despite occupancy levels still being below pre-pandemic levels. The transaction reflects the value and potential of these nursing home properties in Winter Garden, South Daytona, and Hollywood.