and Bob, everyone. good Thanks, morning,
As operators the third-party within Kingdom. approximately XX, operating and portfolio states had located These across facilities XX operating Omega of United December with asset XX,XXX XXXX, XXX were of facilities an spread XX in beds.
Trailing X.XX times for our versus XX-month XX, operator times portfolio times, XX-month core XXXX, EBITDARM and period respectively, the June EBITDAR trailing as coverage ended and to XXXX. for times, X.XX and respectively, X.XX X.XX XX, decreased of September
during compared operators in third $XX.X quarter. recorded as the funds our XXXX, million $XX quarter second approximately the recorded million cumulatively stimulus During of federal approximately to
have of would during the the times, quarter times benefit Trailing quarter times respectively, XX-month to stimulus and X.XX EBITDAR when and EBITDARM for coverage XXXX X.XX third X.XX decreased funds. times, to compared as the operator second and federal of excluding any X.XX respectively,
of quarter federal and times, and federal the in $XX core standalone X.XX our the of stimulus compares funds. This stimulus respectively. quarter stimulus ended standalone and $XX.X X/XX/XXXX times the times for X.XX times with million second portfolio to for coverage federal EBITDAR without X.XX excluding was including funds, X.XX million
from a to Occupancy of from based upon as of for reports portfolio XXXX XXXX to January XX.X% has continued trend up preliminary mid-January core our XX.X% operators. of our in low
versus living, care EBITDAR to and of assets basis X.XX in XX% results, as lease end had the of on our Today, of pure-play which XXX Turning times This this mid-January occupancy XX.X% X.XX coverage increased independent quarter, compared preliminary covered to as and times. senior upon memory housing third our the end comprises XXXX XXXX. investment trailing the second overall living U.K. Based for a portfolio assisted has housing the the portfolio January at in XX-month at the its steady at U.S. to quarter, senior remained of portfolio.
million concluded portfolio per Turning to Agemo Agemo. resume annum. The $XX.X of in The facilities million. rent in XX $XXX facilities obligated in the to XX were remaining amount matters, XXXX. in consisting for the XXXX Tennessee third-parties and of to portfolio quarter of April and interest facilities of XX fourth restructuring Kentucky contractually all, sold are In in of
the XX, As part restructuring, XXXX, extended December Agemo XX, to XXXX. of overall from the December lease master with
many LaVie, tenant, during the full latter to largest to concerns imminent improvements anticipate part throughout occupancy while of continuing to Omega’s labor liquidity were materialize, slower as XXXX, LaVie, particularly costs costs XXXX, began food to rent as pay such continue inflationary challenges, widespread ongoing of and supplies the increase agency in use other in pose face operating expenses of pressures. to personnel the and continue
the Omega Accordingly, that underperforming began an restructuring portfolio fourth in and facilities. certain reduction quarter, would a during overall LaVie earnest involve around discussions
rate of Florida XX of of Louisiana $XXX matures part seller facilities, sales is the of five amount provided interest XX divested million. Omega which financing Omega third-party of of price seller gross financing The restructuring, X% fixed million, via and for facilities, a years. in on sale in a and by As to collateralized one in XX in bears a that the $XXX mortgages
would XXXX, part other of Omega the restructuring, third-party and approvals that is to It sell host anticipated in including first subject potentially our additional due of a regulatory as few. name and facilities conditions, diligence half XX to an documentation, a governmental of
cannot a It Omega these in ongoing XX% that restructuring, be discussions to partial four rent should that The deferral future discount this the quantified. of are the noted to first equates an full XXXX. part as definitively to contractual be months Also, agreed and outcome of rent rent. approximately restructuring deferral the has
are Homes, occupancy Omega’s care levels. U.K. issues approximately slightly XX Healthcare Homes, homes annual started increased million, and driven and in with pre-pandemic liquidity of below largest issues by liquidity agency £XX utility late with costs dealing in costs, Healthcare levels XXXX. operator the increased predominantly rent These
support, Healthcare the The previous increased of Even contracts their costs of utility after increased in the the expiration timing costs to XXXX. expiration previous of government utility utility of in-place over four-fold due September contracts. their with are Homes by
April To well rent assist these Healthcare XXXX. potential up needs as of underperforming with as review for months XXXX to certain issues, to monitor future Homes has any of evaluate candidates. four the deferral Healthcare January deferrals, to divestiture Homes as liquidity facilities liquidity through to from continue Omega allow potential Omega agreed will
the comprised interest predominantly done Maplewood, flows and in of and upscale which the United Maplewood to of end in States. current in align region rent obligations January facilities high Omega. is was Omega relationship, housing restructured located XXXX, of suburban due with senior the urban XX Maplewood’s locations, The better to cash restructuring Northeast
as now developments. and Although recovered the the caused delayed facilities, elevated their in similar occupancy at during largely construction Maplewood announced, resulted pandemic decline costs to long-term previously pandemic constraints labor the other and and in a has occupancy openings costs. Also, operators, a Princeton the Manhattan increase in at
two, credit three, interest cash XXXX, of Omega rent secured flow permits As begin million to, facility and facility our anticipated support the until at payment-in-kind credit on year-end needs through in by facility to future defer $XX restructuring, agreed has Manhattan facility. due in payments payments the our to Princeton near-term part XXXX, for permitting by Carnegie one, deferred escalators increased liquidity secured the lease-up and Hill
levels XX%, proceeds current through up of a secured contractual the stabilization and be of on to from allocation profits actual improved portfolio of projected, respectively. cash XX% deferred their Hill of Both portfolio. continue with Omega right the and anticipates to the a dates an based by Princeton a portfolio. Please the or the upon all Carnegie flow credit facility as sale Maplewood’s will lease occupancy through in-service net note, portion payments either repaid of upon of is sale
the operator operators, previously has issues Omega contractual pay the is an million in sometime to of of failed liquidity third-party X.X% first mentioned, $X this with Omega has representing approximately March, quarter full offset discussions the such, during of currently operator, likely in Other amount approximately as existing transition portion the Omega as which this to to this deposit utilized since rent began a XXXX. rent, will operator portfolio experience rent this of in to shortfall. security total Accordingly, result during XXXX. and of a
monthly to of quarter operator, approximately security only to shortfalls. second of representing offset utilizing Omega another XXXX, existing partial rent began total $X.X making Omega thus the deposit rent Omega’s In million begin payments, X.X% causing
potential operator’s having and/or such, Omega As and concerning this this releases sales began operator discussions portfolio. of
$X.X unrelated three quarter end, third-party released the initial annual of in Omega that To million. fourth XXXX, for an facilities to of rent an
far, coming thus XXXX, an the likely first of four facilities $XX.X released XX to in these So four with be the is Omega remaining rent only has in million, facilities annual months. additional initial that facilities this quarter for It expected an leaving third-party of will released operators operator.
million previous roughly four As contractual remaining new a result of the to or these facilities, Omega the of rent releases, expects receive XX% of operators including former $XX.X $XX.X million. rent versus
with XXXX, in transaction X, investments. North one X, $XX sale-leaseback six Carolina on for the XXXX, same to existing Pennsylvania Omega a for an Omega a transaction December in closed lease facilities On Also purchase on facility December with closed operator. million new Turning on operator.
$XX acquisitions, million existing totaling operator’s In seven facilities Omega totaled for the these Omega yield at investments X%, cash annual $XXX including an with for made to lease with escalators. Omega’s investments X% million, amended initial quarter expenditures. million. Concurrently new $XXX new master the and capital capital the XXXX, expenditures of include
Agemo Omega $XXX the XX price numbers to during XX million. quarter earlier. sold fourth for total XXXX, LaVie XX and Turning a facilities mentioned facilities facilities XXXX, XX a approximately sales total dispositions, divested In of the $XXX of XX of These million. of sales include for Omega facilities
turn call now to over Megan. the will I
