CapitalSource Inc. (CSE) said it completed the sale of 40 long-term care facilities to Health Care Investors Inc. (OHI), as per the terms of the previously announced Securities Purchase Agreement between the parties. In this closing, CapitalSource received net proceeds from Omega of $234.8 million, consisting of $184.2 million in cash; and 2.71 million shares of Omega common stock. Additionally, Omega assumed $59.4 million of debt associated with the 40 properties purchased. Included in the purchase price was $25 million for an option which can be exercised by Omega to acquire 63 additional long-term care facilities at any time through December 31, 2011. CapitalSource expects step two of the transaction for an additional 40 long-term care facilities to close on or about April 1, 2010.
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