CapitalSource Transaction Featured As Daily Dealmaker in MBA Newslink

From MBA Newslink

Capital Source, Chevy Chase, Md., and Omega Healthcare, Hunt Valley, Md., completed second and third closings on $860 million combined for three sale transactions of 144 healthcare facilities.

Omega's $860 million repayment includes cash, stock and debt exchanges. The securities purchase agreement took place in November; the first transaction occurred in December and Omega exercised its option on the second and third transactions.

The second transaction involved 63 long-term care facilities in 19 states for $293 million in cash and the final transaction included 40 long-term care facilities for nearly $270 million in Florida and Mississippi.

The 63 facilities represented 6,607 available beds, a portion of 30 in-place triple net leases among 18 operators. The 30 leases generate nearly $34 million of annualized revenue. Following the sale in December, Omega said it closed on a $100 million term loan with General Electric Capital Corp., Fairfield, Conn., with an option to purchase 40 long-term care facilities in two states.

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