Omega Completes Transition of Fla. SNFs to PACS

Healthcare REIT Omega Healthcare Investors, Inc. (NYSE: OHI) said it transitioned 32 skilled nursing facilities in Florida from an operator managed by affiliates of Airamid Health Services, LLC to subsidiaries of PACS Group, Inc. (NYSE: PACS) with an effective date of Oct. 1, 2026.

This follows the PACS announcement in September of its entry into the Florida market.

In conjunction with this transition, rent on this portfolio is scheduled to increase by $26.1 million in year one and by an additional $2.5 million in year two, with contractual 2 percent escalators thereafter, Omega said.

“The portfolio will be added to Omega’s existing master lease with PACS. In conjunction with this transition, Omega incurred a one-time expense of approximately $90 million,” the company said.

Matthew Gourmand, Omega’s CEO, stated, “We have referenced our active portfolio management efforts in recent earnings calls, and this transition represents a perfect example of how we are able to structure a highly accretive transaction for our shareholders, while addressing the needs of two long-standing operators and supporting continued quality of care for residents.”

Omega is a REIT that invests in the long-term healthcare industry, primarily in skilled nursing, assisted living, and care home facilities.

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