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Business Observer Friday, Dec. 16, 2016 2 years ago

Omega Healthcare adds to FL portfolio

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Omega Healthcare Investors Inc., a Hunt Valley, Md.-based firm that specializes in buying nursing homes, has purchased a trio of Sarasota and Collier County properties for $44.3 million, county property records show.
by: Kevin McQuaid Commercial Real Estate Editor

Omega Healthcare Investors Inc., a Hunt Valley, Md.-based firm that specializes in buying nursing homes, has purchased a trio of Sarasota and Collier County properties for $44.3 million, county property records show.

The real estate investment trust bought the Pinebrook Center, in Venice, the Springwood Center, in Sarasota, and Lakeside Pavilion, in Naples, from an affiliate of Welltower Inc., the former Health Care REIT.

Each of the three facilities contains 120 beds, according to their respective websites.

Springwood, at 4602 Northgate Court, sold for $13.4 million; Pinebrook, at 1240 Pinebrook Road, fetched $19.3 million; and Lakeside, at 2900 12th St. N., sold for $11.5 million.

Thomas Peterson, Omega's director of investor relations, says each property fits the criteria the REIT looks for when making an acquisition.

“There's solid rental income, good potential for population growth, and they're under a master lease with an operator we know and trust,” he says.

Omega isn't new to the Florida market, either. The company owns more than 100 properties in the Sunshine State, according to its website.

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