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BRIEF-Diversicare Healthcare and Omega Healthcare agree to the terms of a new master lease
September 26, 2017 / 12:48 PM / 3 months ago

BRIEF-Diversicare Healthcare and Omega Healthcare agree to the terms of a new master lease

Sept 26 (Reuters) - Diversicare Healthcare Services Inc

* Diversicare and Omega agree to the terms of a new master lease

* Diversicare Healthcare Services - ‍agreement will consolidate leases for all 35 centers under one new master lease after expiration of its current master lease on Sept 30, 2018​

* Diversicare Healthcare Services - ‍entered into agreement with Omega Healthcare Investors on terms of a new master lease

* Diversicare Healthcare Services - agreement with Omega to lease 35 centers currently owned by Omega and operated by Diversicare to be effective Oct 1, 2018

* Diversicare Healthcare Services - key terms of new master lease include fixed annual base rent escalator of 2.15 pct

* Diversicare Healthcare Services - key terms of new master lease initial lease include term of 12 years with two 10 year extensions Source text for Eikon: Further company coverage:

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