Omega Healthcare Investors (NYSE: OHI) anticipates that 2026 will include “a decent amount of” U.S.-based senior living transaction opportunities “predominantly in a non-triple-net [lease] format,” according to Chief Investment Officer Vikas Gupta.
Gupta made the comments during Friday’s third-quarter earnings call. Omega completed $1.1 billion in new deals year-to-date in 2025 including skilled nursing and senior living assets. The company also formed a $222 million property joint venture with affiliates of Saber Healthcare to own and lease 64 skilled nursing facilities previously wholly owned by Saber.
“We were in that kind of cadence where we could allocate a similar amount of capital,” Gupta said. He added that it is his “suspicion” that 2026 will “look like a good year for us” with regard to skilled nursing assets, U.K.-based care homes and senior living opportunities.
“I think the pipeline looks good on all of them, but it’s really just going to be determined by what opportunities present themselves and provide a risk adjusted return that looks compelling to us,” Gupta added.
As new opportunities emerge, Omega CEO Taylor Pickett said Omega can “look at a lot more types of transactions,” especially where “yields are higher than our traditional” triple-net formats.
The comment comes as multiple REITs convert triple-net leases to REIT Investment Diversification and Empowerment Act (RIDEA) structures, including recent activity this year from LTC Properties (NYSE: LTC), National Health Investors (NYSE: NHI) and Ventas (NYSE: VTR).
“We’re prepared to do traditional RIDEA,” Pickett said. “We spent a lot of time making sure we add the tools here to handle that.”
Omega’s triple-net portfolio is its “core portfolio,” according to the company’s most recent financial disclosure. In total, Omega owns 408 senior living communities spanning assisted living, memory care and independent living.
Omega acquired one continuing care retirement community (CCRC) at an initial cash yield of 10% with escalators ranging from 2% to 2.5%. At the same time, the company sees “individual and regional clusters of senior housing assets” that are “underperforming and non-stabilized,” creating transaction opportunities “meaningfully below replacement costs,” Pickett said.
Omega stock rose $2.14 on Friday to rest at $42.03 per share, an increase of 5.36%.
Omega’s third-quarter funds from operations (FFO) were approximately $0.78 per diluted share.
Regarding Maplewood Senior Living, Omega leaders noted that the operator’s incremental revenue resulted in $18.7 million in rent payments during the third quarter, an increase of $1.1 million compared to the second quarter. Maplewood continues to pay $6.3 million per month in rent which is “consistent” with benchmarks set by the company.
Pickett called Maplewood properties in luxury, affluent markets “highly desirable properties.” For example, the Inspir Carnegie Hill location is 96% occupied and is “basically full,” Pickett said.
“They can push rate…and we expect further cashflow growth there,” Pickett added.
Omega made a loan investment in an assisted living facility in Connecticut and the operator refinanced this month.
The post Omega Keeps Eye On Senior Living After Big Skilled Nursing Deal appeared first on Senior Housing News.
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