NHP Buys 12 More Nursing Homes : Acquisitions: The Newport Beach company pays $50.3 million to Omega Healthcare Partners for the facilities. NHP now has 106 homes in 24 states.
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NEWPORT BEACH — Nationwide Health Properties Inc., a nursing-home owner based here, said Friday that it has completed its $50.3-million acquisition of 12 nursing homes from Omega Healthcare Partners in Ann Arbor, Mich.
NHP is a Newport Beach real estate investment trust that specializes in health-care facilities. It has an investment portfolio of more than $200 million.
R. Bruce Andrews, its president and chief executive, said the Omega facilities are leased to three of the nation’s largest nursing-home operators--ARA Living Centers, Horizon Healthcare Corp. and Life Care Centers of America. The facilities, located in Arizona, Illinois, Indiana and Ohio, have 1,860 beds.
“The acquisition . . . represents substantial progress toward Nationwide’s strategy to diversify its operator base,” Andrews said in a statement. “The rental income from these properties will immediately contribute to the company’s earnings and cash flow.”
NHP was an arm of Beverly Enterprises Inc., a major nursing-home operator based in Fort Smith, Ark., until 1985, when it was spun off as a separate public company. Beverly still retains 5% of the trust and, through an agreement, manages most of NHP’s properties.
NHP has been trying to reduce its dependence on a single operator to no more than 20% of its business.
Counting the Omega purchase, NHP owns 106 nursing homes in 24 states.
Also Friday, the company declared a 52-cent dividend, an increase of 1 cent over its previous quarterly dividend. It will be paid on Sept. 6, 1991, to shareholders of record on Aug. 15, 1991.
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