Omega Healthcare Investors announced the transition of operations at 32 skilled nursing facilities in Florida to PACS Group, Inc., effective October 1, 2026. The facilities were previously managed by an operator affiliated with Airamid Health Services. The move marks PACS Group’s entry into Florida and expands its operating footprint.
For Omega, the real estate owner, the new agreement is expected to be highly accretive. Annual rent is projected to increase by $26.1 million in the first year and by an additional $2.5 million in the second year. Rent will then increase by 2% annually. Omega incurred a one-time expense of approximately $90 million related to the operator transition. The portfolio has been added to Omega’s existing master lease with PACS.