Omega Healthcare transfers 32 Florida facilities to PACS Group

Omega Healthcare Investors (NYSE: OHI) announced that it has transitioned 32 skilled nursing facilities in Florida from an operator managed by affiliates of Airamid Health Services to subsidiaries of PACS Group (NYSE: PACS), effective October 1, 2026.

The transferred portfolio will be added to Omega's existing master lease with PACS. Rent on the portfolio is scheduled to increase by $26.1 million in the first year and by an additional $2.5 million in the second year, with contractual 2% escalators thereafter. Omega incurred a one-time expense of approximately $90 million in connection with the transition.

Matthew Gourmand, Omega's Chief Executive Officer, said the transaction represents "a highly accretive transaction for our shareholders, while addressing the needs of two long-standing operators and supporting continued quality of care for residents."

Vikas Gupta, Omega's Chief Investment Officer, noted that Airamid had been a partner for over 15 years, and said Omega is "excited to support their entry into the state of Florida" regarding PACS.

Omega is a real estate investment trust that invests in skilled nursing, assisted living, and care home facilities across the U.S., U.K., and Canada.

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