CHEVY 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.
CapitalSource 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.