Market Overview

Omega Terminates Restructuring Support Agreement; Range of Expected Ultimate Future Rent Outcomes Unchanged


Omega Healthcare Investors, Inc. (NYSE:OHI) today announced that the
Company has given notice to terminate the restructuring support
agreement of its tenant, 4 West Holdings, Inc. ("Orianna"), effective
July 25, 2018.

Taylor Pickett, Omega's Chief Executive Officer, stated, "The Company
will be considering and/or pursuing alternative courses of action to
protect our assets and shareholder value. While we are frustrated that
the restructuring of the Orianna portfolio could not be concluded in
accordance with the restructuring support agreement negotiated with
Orianna and its plan of reorganization, we continue to believe that
final resolution will result in our previously stated range of $32
million to $38 million of rent or rent equivalents from the assets that
constituted our Orianna portfolio." Mr. Pickett continued, "As we have
throughout, we will work with operators to assure that residents
continue to be protected."

On July 1, Omega successfully transitioned the legacy Orianna portfolio
in Mississippi to an existing Omega operator with a contractual annual
rent of $12 million. The Company is also progressing with the transition
of the remaining previously announced facilities and expects this
process to conclude in the next few months.

Omega is a real estate investment trust that invests in the long-term
healthcare industry, primarily in skilled nursing and assisted living
facilities. Its portfolio of assets is operated by a diverse group of
healthcare companies, predominantly in a triple-net lease structure. The
assets span all regions within the US, as well as in the UK.

This press release includes forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. All
statements regarding Omega's or its tenants', operators', borrowers' or
managers' expected future financial condition, results of operations,
cash flows, funds from operations, dividends and dividend plans,
financing opportunities and plans, capital markets transactions,
business strategy, budgets, projected costs, operating metrics, capital
expenditures, competitive positions, acquisitions, investment
opportunities, dispositions, facility transitions, growth opportunities,
expected lease income, continued qualification as a REIT, plans and
objectives of management for future operations and statements that
include words such as "anticipate," "if," "believe," "plan," "estimate,"
"expect," "intend," "may," "could," "should," "will" and other similar
expressions are forward-looking statements. These forward-looking
statements are inherently uncertain, and actual results may differ from
Omega's expectations. Omega does not undertake a duty to update these
forward-looking statements, which speak only as of the date on which
they are made.

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) regulatory and other changes in the
healthcare sector; (iii) changes in the financial position of 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; (v) the availability and
cost of capital; (vi) changes in Omega's credit ratings and the ratings
of its debt securities; (vii) competition in the financing of healthcare
facilities; (viii) Omega's ability to maintain its status as a REIT;
(ix) Omega's ability to sell assets held for sale or complete potential
asset sales on a timely basis and on terms that allow Omega to realize
the carrying value of these assets; (x) Omega's ability to re-lease,
otherwise transition or sell underperforming assets on a timely basis
and on terms that allow Omega to realize the carrying value of these
assets; (xi) the effect of economic and market conditions generally, and
particularly in the healthcare industry; (xii) the potential impact of
changes in the skilled nursing and assisted living facility markets 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; (xiii) changes
in interest rates; (xiv) changes in tax laws and regulations affecting
REITs; and (xv) other factors identified in Omega's filings with the
Securities and Exchange Commission. Statements regarding future events
and developments and Omega's future performance, as well as management's
expectations, beliefs, plans, estimates or projections relating to the
future, are forward looking statements. Omega undertakes no obligation
to update any forward-looking statements contained in this announcement.

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