Press release from PR Newswire
CapitalSource Closes Final Sale of Long-Term Care Facilities to Omega Healthcare Investors
Tuesday, June 29, 2010
CapitalSource Closes Final Sale of Long-Term Care Facilities to Omega Healthcare Investors16:30 EDT Tuesday, June 29, 2010CHEVY CHASE, Md., June 29 /PRNewswire-FirstCall/ -- CapitalSource Inc. (NYSE: CSE) today announced the completion of the sale of 40 long-term care facilities to Omega Healthcare Investors Inc. (NYSE: OHI), in accordance with the terms of the agreement between the parties executed in November 2009.At the closing, CapitalSource received net proceeds from Omega of $270 million, which included the assumption of $182 million of Department of Housing and Urban Development mortgages and $20 million of other debt, net cash proceeds of $65 million and $3 million of Omega common stock. �In addition, CapitalSource received $15 million of Omega common stock as consideration for certain escrow amounts transferred at closing. This sale is the final stage of a three step transaction in which CapitalSource sold 143 long-term care facilities to Omega.About CapitalSourceCapitalSource Inc. (NYSE: CSE) is a commercial lender that provides financial products to middle market businesses and offers depository products and services in southern and central California through its wholly owned subsidiary CapitalSource Bank. �As of March 31, 2010, CapitalSource had total commercial assets of $8.7 billion and $4.6 billion in deposits. �The Company is headquartered in Chevy Chase, MD. �Visit www.capitalsource.com for more information. �SOURCE CapitalSource Inc.For further information: Investor Relations, Dennis Oakes, Senior Vice President - Investor Relations, +1-212-321-7212, or Media Relations, Paul Wardour, Vice President - Marketing, +1-301-841-2745, both of CapitalSource Inc.