Kaye Scholer represented Real Estate Investment Trust, Omega Healthcare Investors, Inc. (Omega) on its acquisition and lease transaction concerning 10 care home facilities in the UK with Healthcare Homes Group Ltd (Healthcare Homes), a provider of care home and domiciliary care services to the elderly in the UK. The transaction, which closed on April 1 for approximately $120 million, continues Omega’s expansion in the UK.
Omega entered the UK market in May 2015 when it completed a similar transaction with Healthcare Homes concerning the acquisition of 23 care home facilities. Omega and Healthcare Homes have also completed two further acquisition and lease transactions of individual care home facilities in January 2016 for approximately $9 million and February 2016 for approximately $7 million. Kaye Scholer has advised Omega on all of their UK transactions.
“We congratulate Omega on its continued expansion in the UK and are pleased to serve as their preferred counsel” said Kaye Scholer New York Corporate Partner John Fallon, who led the transaction.
London Corporate Partner Sean Scanlon, who managed the UK-based team, added: “This is our fourth transaction for Omega in the UK market and it is a fantastic example of our ability to bring together an excellent transatlantic team for the benefit of a valued client.”
In addition to John Fallon and Sean Scanlon, the Kaye Scholer team representing Omega included London Corporate Partner David Gerber, London Tax Partner Daniel Lewin, New York Corporate Associate John Csuka, and London Trainee Solicitor Sonalini de Zoysa Gunasekera.
Nabarro LLP assisted Kaye Scholer in the Omega transaction by providing advice on certain UK real estate aspects of the transaction. The Nabarro team was led by London Real Estate Partner Candice Blackwood.
Omega is a Maryland-based publicly traded REIT that invests in and provides financing to the long-term care industry. As of December 31, 2015, in addition to its UK group of care homes, Omega has a portfolio of investments that includes 949 properties located in 42 states in the United States, operated by 84 different operators.
“Our Kaye Scholer team continues to provide us with the invaluable advice, attention to detail and guidance that helps makes these significant deals possible,” Omega’s chief operating officer Dan Booth said. “They really understand our business imperatives and facilitate our continued activity in the UK health care market.”
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