HUNT VALLEY, Md.--(BUSINESS WIRE)--Omega Healthcare Investors, Inc. (NYSE:OHI) today announced that the Company has given notice to terminate the restructuring support agreement of its tenant, 4 West Holdings, Inc., effective July 25, 2018.

Taylor Pickett, Omega’s Chief Executive Officer, stated, “The Company will be considering and/or pursuing alternative courses of action to protect our assets and shareholder value. While we are frustrated that the restructuring of the Orianna portfolio could not be concluded in accordance with the restructuring support agreement negotiated with Orianna and its plan of reorganization, we continue to believe that final resolution will result in our previously stated range of $32 million to $38 million of rent or rent equivalents from the assets that constituted our Orianna portfolio.” Mr. Pickett continued, “As we have throughout, we will work with operators to assure that residents continue to be protected.”

On July 1, Omega successfully transitioned the legacy Orianna portfolio in Mississippi to an existing Omega operator with a contractual annual rent of $12 million. The Company is also progressing with the transition of the remaining previously announced facilities and expects this process to conclude in the next few months.

Omega is a real estate investment trust that invests in the long-term healthcare industry, primarily in skilled nursing and assisted living facilities. Its portfolio of assets is operated by a diverse group of healthcare companies, predominantly in a triple-net lease structure. The assets span all regions within the US, as well as in the UK.