Form: 10-K

Annual report pursuant to Section 13 and 15(d)

February 12, 2024

10-K: Annual report pursuant to Section 13 and 15(d)

Published on February 12, 2024

00008884912023FYfalse00http://fasb.org/us-gaap/2023#OtherAssetshttp://fasb.org/us-gaap/2023#AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent00http://fasb.org/us-gaap/2023#IncomeLossFromEquityMethodInvestmentshttp://fasb.org/us-gaap/2023#IncomeLossFromEquityMethodInvestmentshttp://fasb.org/us-gaap/2023#IncomeLossFromEquityMethodInvestmentsfalsefalsefalsefalsefalsefalseP8YP3YP3M9900000P10Yhttp://fasb.org/us-gaap/2023#OtherAssetshttp://fasb.org/us-gaap/2023#AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent9900000150000001500000010P12MP4Y20230000888491ohi:FiveHundredMillionStockRepurchaseProgramMember2022-01-270000888491us-gaap:CommonStockMember2022-01-012022-12-310000888491us-gaap:CommonStockMember2023-01-012023-12-310000888491us-gaap:CommonStockMember2021-01-012021-12-310000888491ohi:DividendReinvestmentAndCommonStockPurchasePlanMember2023-01-012023-12-310000888491ohi:DividendReinvestmentAndCommonStockPurchasePlanMember2022-01-012022-12-310000888491ohi:DividendReinvestmentAndCommonStockPurchasePlanMember2021-01-012021-12-310000888491us-gaap:RetainedEarningsMember2023-12-310000888491us-gaap:ParentMember2023-12-310000888491us-gaap:NoncontrollingInterestMember2023-12-310000888491us-gaap:CommonStockMember2023-12-310000888491us-gaap:AociIncludingPortionAttributableToNoncontrollingInterestMember2023-12-310000888491us-gaap:AdditionalPaidInCapitalMember2023-12-310000888491us-gaap:AccumulatedDistributionsInExcessOfNetIncomeMember2023-12-310000888491us-gaap:RetainedEarningsMember2022-12-310000888491us-gaap:ParentMember2022-12-310000888491us-gaap:NoncontrollingInterestMember2022-12-310000888491us-gaap:CommonStockMember2022-12-310000888491us-gaap:AociIncludingPortionAttributableToNoncontrollingInterestMember2022-12-310000888491us-gaap:AdditionalPaidInCapitalMember2022-12-310000888491us-gaap:AccumulatedDistributionsInExcessOfNetIncomeMember2022-12-310000888491us-gaap:RetainedEarningsMember2021-12-310000888491us-gaap:ParentMember2021-12-310000888491us-gaap:NoncontrollingInterestMember2021-12-310000888491us-gaap:CommonStockMember2021-12-310000888491us-gaap:AociIncludingPortionAttributableToNoncontrollingInterestMember2021-12-310000888491us-gaap:AdditionalPaidInCapitalMember2021-12-310000888491us-gaap:AccumulatedDistributionsInExcessOfNetIncomeMember2021-12-310000888491us-gaap:RetainedEarningsMember2020-12-310000888491us-gaap:ParentMember2020-12-310000888491us-gaap:NoncontrollingInterestMember2020-12-310000888491us-gaap:CommonStockMember2020-12-310000888491us-gaap:AociIncludingPortionAttributableToNoncontrollingInterestMember2020-12-310000888491us-gaap:AdditionalPaidInCapitalMember2020-12-310000888491us-gaap:AccumulatedDistributionsInExcessOfNetIncomeMember2020-12-310000888491us-gaap:AccumulatedTranslationAdjustmentMember2023-12-310000888491us-gaap:AccumulatedOtherComprehensiveIncomeMember2023-12-310000888491us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2023-12-310000888491ohi:AccumulatedNetGainLossFromNetInvestmentHedgesAttributableToParentMember2023-12-310000888491us-gaap:AccumulatedTranslationAdjustmentMember2022-12-310000888491us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-12-310000888491us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2022-12-310000888491ohi:AccumulatedNetGainLossFromNetInvestmentHedgesAttributableToParentMember2022-12-310000888491ohi:PerformanceBasedRestrictedStockUnitsAndProfitInterestUnitsMember2023-01-010000888491ohi:PerformanceBasedRestrictedStockUnitsAndProfitInterestUnitsMember2022-01-010000888491ohi:PerformanceBasedRestrictedStockUnitsAndProfitInterestUnitsMember2021-01-010000888491ohi:StockIncentivePlan2018Member2023-06-052023-06-050000888491ohi:StockIncentivePlan2018Member2018-06-082018-06-080000888491ohi:PerformanceBasedRestrictedStockUnitsAndProfitInterestUnitsMember2023-01-012023-01-010000888491ohi:PerformanceBasedRestrictedStockUnitsAndProfitInterestUnitsMember2022-01-012022-01-010000888491ohi:PerformanceBasedRestrictedStockUnitsAndProfitInterestUnitsMember2021-01-012021-01-010000888491us-gaap:StockAppreciationRightsSARSMember2023-12-310000888491ohi:PerformanceBasedRestrictedStockUnitsAndProfitInterestUnitsMember2023-12-310000888491us-gaap:StockAppreciationRightsSARSMember2022-12-310000888491ohi:PerformanceBasedRestrictedStockUnitsAndProfitInterestUnitsMember2022-12-310000888491us-gaap:StockAppreciationRightsSARSMember2021-12-310000888491ohi:PerformanceBasedRestrictedStockUnitsAndProfitInterestUnitsMember2021-12-310000888491us-gaap:StockAppreciationRightsSARSMember2020-12-310000888491ohi:PerformanceBasedRestrictedStockUnitsAndProfitInterestUnitsMember2020-12-310000888491us-gaap:StockAppreciationRightsSARSMember2023-01-012023-12-310000888491ohi:LeaseAndMortgageSecurityDepositsMemberohi:OperatorOneMember2023-12-310000888491ohi:LeaseAndMortgageSecurityDepositsMember2023-12-310000888491ohi:LeaseAndMortgageLiquidityAndOtherDepositsMember2023-12-310000888491ohi:LeaseAndMortgageLetterOfCreditMember2023-12-310000888491ohi:GuardianMember2023-12-310000888491ohi:LeaseAndMortgageSecurityDepositsMember2022-12-310000888491ohi:LeaseAndMortgageLiquidityAndOtherDepositsMember2022-12-310000888491ohi:LeaseAndMortgageLetterOfCreditMember2022-12-310000888491ohi:TermLoanMaturity2024Memberus-gaap:SecuredDebtMember2022-12-310000888491ohi:TermLoanMaturity2023Memberus-gaap:SecuredDebtMember2022-12-310000888491ohi:HudMortgageAssumedMemberus-gaap:SecuredDebtMember2022-12-310000888491us-gaap:NotesReceivableMember2023-01-012023-12-310000888491srt:SubsidiariesMembercountry:GB2023-01-012023-12-310000888491srt:SubsidiariesMembercountry:GB2022-01-012022-12-310000888491srt:SubsidiariesMembercountry:GB2021-01-012021-12-310000888491ohi:OperatorThreeMemberus-gaap:AssetPledgedAsCollateralWithRightMemberus-gaap:LetterOfCreditMember2022-06-300000888491ohi:AgemoHoldingsLlcMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberohi:NotesReceivableDue2024TermLoanMemberus-gaap:AssetPledgedAsCollateralWithRightMemberus-gaap:LetterOfCreditMember2021-09-300000888491ohi:SeniorNotesDue2023Memberus-gaap:SeniorNotesMember2022-01-012022-12-310000888491ohi:HudMortgageAssumedMemberus-gaap:AssetPledgedAsCollateralMember2023-12-310000888491ohi:FacilitiesLeasedMemberstpr:NJohi:ConstructionInProgressPlacedInServiceMember2021-06-300000888491ohi:FacilitiesClassifiedToAssetHeldForSaleMemberohi:FourFacilitiesMember2023-12-310000888491srt:ScenarioPreviouslyReportedMember2021-12-310000888491srt:MinimumMemberstpr:WV2023-12-310000888491srt:MinimumMemberstpr:WA2023-12-310000888491srt:MinimumMemberstpr:VA2023-12-310000888491srt:MinimumMemberstpr:TX2023-12-310000888491srt:MinimumMemberstpr:TN2023-12-310000888491srt:MinimumMemberstpr:SC2023-12-310000888491srt:MinimumMemberstpr:PA2023-12-310000888491srt:MinimumMemberstpr:OR2023-12-310000888491srt:MinimumMemberstpr:OK2023-12-310000888491srt:MinimumMemberstpr:OH2023-12-310000888491srt:MinimumMemberstpr:NV2023-12-310000888491srt:MinimumMemberstpr:NH2023-12-310000888491srt:MinimumMemberstpr:NE2023-12-310000888491srt:MinimumMemberstpr:NC2023-12-310000888491srt:MinimumMemberstpr:MS2023-12-310000888491srt:MinimumMemberstpr:MO2023-12-310000888491srt:MinimumMemberstpr:MD2023-12-310000888491srt:MinimumMemberstpr:MA2023-12-310000888491srt:MinimumMemberstpr:LA2023-12-310000888491srt:MinimumMemberstpr:KY2023-12-310000888491srt:MinimumMemberstpr:IN2023-12-310000888491srt:MinimumMemberstpr:ID2023-12-310000888491srt:MinimumMemberstpr:IA2023-12-310000888491srt:MinimumMemberstpr:GA2023-12-310000888491srt:MinimumMemberstpr:FL2023-12-310000888491srt:MinimumMemberstpr:CT2023-12-310000888491srt:MinimumMemberstpr:CO2023-12-310000888491srt:MinimumMemberstpr:CA2023-12-310000888491srt:MinimumMemberstpr:AZ2023-12-310000888491srt:MinimumMemberstpr:AR2023-12-310000888491srt:MinimumMemberstpr:AL2023-12-310000888491srt:MinimumMembercountry:GB2023-12-310000888491srt:MaximumMemberstpr:WV2023-12-310000888491srt:MaximumMemberstpr:WA2023-12-310000888491srt:MaximumMemberstpr:VA2023-12-310000888491srt:MaximumMemberstpr:TX2023-12-310000888491srt:MaximumMemberstpr:TN2023-12-310000888491srt:MaximumMemberstpr:SC2023-12-310000888491srt:MaximumMemberstpr:PA2023-12-310000888491srt:MaximumMemberstpr:OR2023-12-310000888491srt:MaximumMemberstpr:OK2023-12-310000888491srt:MaximumMemberstpr:OH2023-12-310000888491srt:MaximumMemberstpr:NV2023-12-310000888491srt:MaximumMemberstpr:NH2023-12-310000888491srt:MaximumMemberstpr:NE2023-12-310000888491srt:MaximumMemberstpr:NC2023-12-310000888491srt:MaximumMemberstpr:MS2023-12-310000888491srt:MaximumMemberstpr:MD2023-12-310000888491srt:MaximumMemberstpr:MA2023-12-310000888491srt:MaximumMemberstpr:LA2023-12-310000888491srt:MaximumMemberstpr:KY2023-12-310000888491srt:MaximumMemberstpr:IN2023-12-310000888491srt:MaximumMemberstpr:ID2023-12-310000888491srt:MaximumMemberstpr:IA2023-12-310000888491srt:MaximumMemberstpr:GA2023-12-310000888491srt:MaximumMemberstpr:FL2023-12-310000888491srt:MaximumMemberstpr:CT2023-12-310000888491srt:MaximumMemberstpr:CO2023-12-310000888491srt:MaximumMemberstpr:CA2023-12-310000888491srt:MaximumMemberstpr:AZ2023-12-310000888491srt:MaximumMemberstpr:AR2023-12-310000888491srt:MaximumMemberstpr:AL2023-12-310000888491srt:MaximumMembercountry:GB2023-12-310000888491ohi:WashingtonDcMember2023-12-310000888491stpr:WV2023-12-310000888491stpr:WI2023-12-310000888491stpr:VT2023-12-310000888491stpr:TN2023-12-310000888491stpr:SC2023-12-310000888491stpr:RI2023-12-310000888491stpr:OR2023-12-310000888491stpr:OK2023-12-310000888491stpr:NV2023-12-310000888491stpr:NM2023-12-310000888491stpr:NJ2023-12-310000888491stpr:NH2023-12-310000888491stpr:NE2023-12-310000888491stpr:MT2023-12-310000888491stpr:MS2023-12-310000888491stpr:MN2023-12-310000888491stpr:MI2023-12-310000888491stpr:MD2023-12-310000888491stpr:KY2023-12-310000888491stpr:KS2023-12-310000888491stpr:IL2023-12-310000888491stpr:IA2023-12-310000888491stpr:GA2023-12-310000888491stpr:CT2023-12-310000888491stpr:CO2023-12-310000888491stpr:AZ2023-12-310000888491stpr:AL2023-12-310000888491srt:MinimumMemberus-gaap:FurnitureAndFixturesMember2023-12-310000888491srt:MinimumMemberus-gaap:BuildingMember2023-12-310000888491srt:MinimumMemberohi:SiteImprovementsAndEquipmentMember2023-12-310000888491srt:MaximumMemberus-gaap:FurnitureAndFixturesMember2023-12-310000888491srt:MaximumMemberus-gaap:BuildingMember2023-12-310000888491srt:MaximumMemberohi:SiteImprovementsAndEquipmentMember2023-12-310000888491us-gaap:RetainedEarningsMember2023-01-012023-12-310000888491us-gaap:RetainedEarningsMember2022-01-012022-12-310000888491us-gaap:RetainedEarningsMember2021-01-012021-12-310000888491ohi:FacilitiesSoldMemberohi:SecondSpringHealthcareInvestmentsMemberohi:FiveFacilitiesMember2021-01-012021-03-310000888491ohi:SecondSpringHealthcareInvestmentsMember2021-01-012021-03-310000888491ohi:GuardianMemberohi:OneOfSixFacilitiesMember2023-04-012023-06-300000888491us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2022-01-012022-03-310000888491us-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberus-gaap:ForwardContractsMember2023-05-302023-05-300000888491ohi:ElevenFacilitiesMember2023-07-012023-09-300000888491ohi:FourFacilitiesPreviouslySubjectToMortgageFinancingFromEntityMemberohi:MortgageNoteDue2031Member2023-04-012023-06-300000888491ohi:CienaHealthcareMemberohi:MortgageNoteDue2030Memberohi:MasterMortgageMember2022-01-012022-12-310000888491ohi:CienaHealthcareMemberohi:MortgageNoteDue2030FortyFourPointSevenMillionMortgageMember2022-01-012022-12-310000888491ohi:FacilitiesAcquiredMemberohi:GreatBritainThreeMemberohi:AssistedLivingFacilitiesMember2022-01-012022-03-310000888491ohi:FacilitiesAcquiredMemberohi:GreatBritainOneMemberohi:AssistedLivingFacilitiesMember2022-01-012022-03-310000888491stpr:VA2023-04-012023-06-300000888491ohi:MaplewoodRealEstateHoldingsMemberstpr:DC2021-07-012021-09-300000888491us-gaap:NetInvestmentHedgingMember2023-12-272023-12-270000888491ohi:OmegaOpTermLoanMemberus-gaap:UnsecuredDebtMember2022-12-310000888491us-gaap:AociIncludingPortionAttributableToNoncontrollingInterestMember2023-01-012023-12-310000888491us-gaap:AociIncludingPortionAttributableToNoncontrollingInterestMember2022-01-012022-12-310000888491us-gaap:AociIncludingPortionAttributableToNoncontrollingInterestMember2021-01-012021-12-310000888491us-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberus-gaap:ForwardContractsMember2021-03-012021-03-310000888491us-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberus-gaap:ForwardContractsMember2020-10-012020-10-310000888491us-gaap:IndemnificationGuaranteeMember2023-12-310000888491stpr:VA2023-06-300000888491ohi:MaplewoodRealEstateHoldingsMemberstpr:DC2021-09-300000888491us-gaap:ForeignCountryMember2023-12-310000888491ohi:TaxableReitSubsidiariesMember2023-12-310000888491us-gaap:ForeignCountryMember2022-03-310000888491ohi:GuardianMemberohi:OperatorPlacedOnCashBasisMember2023-01-012023-12-310000888491ohi:AgemoHoldingsLlcMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2023-01-012023-12-310000888491ohi:OperatorTwoMember2022-10-012022-12-310000888491ohi:OperatorTwoMember2022-07-012022-09-300000888491ohi:GulfCoastLlcMemberohi:OperatorPlacedOnCashBasisMember2021-06-012021-12-310000888491ohi:TwentyFourFacilitiesMember2021-01-012021-12-310000888491ohi:GroundLeasesAndOrFacilityLeasesMemberus-gaap:GeneralAndAdministrativeExpenseMember2023-01-012023-12-310000888491ohi:GroundLeasesAndOrFacilityLeasesMemberus-gaap:GeneralAndAdministrativeExpenseMember2022-01-012022-12-310000888491ohi:GroundLeasesAndOrFacilityLeasesMemberus-gaap:GeneralAndAdministrativeExpenseMember2021-01-012021-12-310000888491ohi:GulfCoastLlcMember2022-04-012022-06-300000888491ohi:CienaHealthcareMemberohi:FacilitiesCoveredByMortgageAndUsedAsCollateralMemberohi:MortgageNoteDue2030Memberohi:MasterMortgageMember2023-12-310000888491ohi:CienaHealthcareMemberohi:FacilitiesCoveredByMortgageAndUsedAsCollateralMemberohi:MortgageNoteDue2030Memberohi:AmendedMasterMortgageMember2023-12-310000888491ohi:FacilitiesTransitionedToOperatorsMemberohi:OperatorTwoMemberohi:FourteenOfFortyEightFacilitiesMember2023-12-310000888491ohi:FacilitiesBeingTransitionedToOtherOperatorMemberohi:OperatorThreeMemberohi:TwentyOfFortyEightFacilitiesMember2023-12-310000888491ohi:FacilitiesAcquiredMemberstpr:MDohi:SkilledNursingFacilitiesMember2023-12-310000888491ohi:FacilitiesAcquiredMemberstpr:LAohi:SkilledNursingFacilitiesMember2023-12-310000888491ohi:FacilitiesAcquiredMembercountry:GBohi:AssistedLivingFacilitiesMember2023-12-310000888491ohi:GroundLeasesAndOrFacilityLeasesMemberohi:SkilledNursingFacilitiesMember2023-12-310000888491ohi:GroundLeasesAndOrFacilityLeasesMemberohi:OfficeLeasesMember2023-12-310000888491ohi:GroundLeasesAndOrFacilityLeasesMemberohi:AssistedLivingFacilitiesMember2023-12-310000888491ohi:FacilitiesUnderFixedRateMortgageLoansMemberohi:SpecialtyMember2023-12-310000888491ohi:FacilitiesUnderFixedRateMortgageLoansMemberohi:SkilledNursingFacilitiesMember2023-12-310000888491ohi:FacilitiesUnderFixedRateMortgageLoansMemberohi:IndependentLivingFacilitiesMember2023-12-310000888491ohi:FacilitiesUnderFixedRateMortgageLoansMemberohi:AssistedLivingFacilitiesMember2023-12-310000888491ohi:FacilitiesSoldMemberohi:SpecialtyFacilityMember2023-12-310000888491ohi:FacilitiesSoldMemberohi:SkilledNursingFacilitiesMember2023-12-310000888491ohi:FacilitiesSoldMemberohi:MedicalOfficeBuildingMember2023-12-310000888491ohi:FacilitiesSoldMemberohi:IndependentLivingFacilitiesMember2023-12-310000888491ohi:FacilitiesSoldMemberohi:AssistedLivingFacilitiesMember2023-12-310000888491ohi:FacilitiesCoveredByMortgageAndUsedAsCollateralMemberohi:OtherMortgageNotesMember2023-12-310000888491ohi:FacilitiesConsideredLongTermMemberus-gaap:MortgageReceivablesMember2023-12-310000888491ohi:FacilitiesAcquiredMemberohi:SkilledNursingFacilitiesMember2023-12-310000888491ohi:FacilitiesAcquiredMemberohi:AssistedLivingFacilitiesMember2023-12-310000888491ohi:ConsulateHealthCareMemberohi:FacilitiesSoldMember2023-12-310000888491ohi:ConsulateHealthCareMemberohi:FacilitiesPreviouslySubjectToMasterLeaseMember2023-12-310000888491ohi:SpecialtyMember2023-12-310000888491ohi:SkilledNursingFacilitiesMember2023-12-310000888491ohi:MedicalOfficeBuildingMember2023-12-310000888491ohi:IndependentLivingFacilitiesMember2023-12-310000888491ohi:FacilitiesWithImpairmentsHeldForUseAndLaterSoldMember2023-12-310000888491ohi:FacilitiesWithImpairmentChargesMember2023-12-310000888491ohi:FacilitiesWithImpairmentChargesHeldForUseMember2023-12-310000888491ohi:FacilitiesWithImpairmentChargesHeldForUseAndLaterClosedMember2023-12-310000888491ohi:FacilitiesWithImpairmentChargesAndClassifiedToAssetsHeldForSaleMember2023-12-310000888491ohi:FacilitiesTransitionedFrom4CashBasisOperatorsTo5OperatorsMember2023-12-310000888491ohi:FacilitiesSubjectToDirectFinancingLeasesMember2023-12-310000888491ohi:FacilitiesSoldMember2023-12-310000888491ohi:FacilitiesHeldForSaleOrClosedMember2023-12-310000888491ohi:FacilitiesHeldForSaleMember2023-12-310000888491ohi:FacilitiesClassifiedToAssetHeldForSaleMember2023-12-310000888491ohi:AssistedLivingFacilitiesMember2023-12-310000888491ohi:FacilitiesAcquiredByOperatorRelatedToOtherRealEstateLoansMemberohi:NewOperatorMemberohi:MortgageNotesDue2028Member2023-12-280000888491ohi:FacilitiesAcquiredByOperatorMemberstpr:PA2023-10-310000888491ohi:FacilitiesAcquiredMemberstpr:VAohi:SkilledNursingFacilitiesMember2023-09-300000888491ohi:FacilitiesAcquiredMembercountry:GBohi:AssistedLivingFacilitiesMember2023-09-300000888491ohi:ConsulateHealthCareMemberohi:FacilitiesSoldMember2023-09-300000888491ohi:ConsulateHealthCareMemberohi:FacilitiesPreviouslySubjectToMasterLeaseMember2023-09-300000888491ohi:ConsulateHealthCareMember2023-09-300000888491ohi:FacilitiesAcquiredReleasedFromEatMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberohi:FourOfSevenFacilitiesMemberohi:ExchangeAccommodationTitleholdersMember2023-06-300000888491ohi:GuardianMemberohi:FacilitiesSoldMemberohi:OneOfSixFacilitiesMember2023-06-300000888491ohi:GuardianMemberohi:FacilitiesSoldMemberohi:FiveOfSixFacilitiesMember2023-06-300000888491ohi:FacilitiesAcquiredMemberstpr:WVohi:SkilledNursingFacilitiesMember2023-06-300000888491ohi:FacilitiesAcquiredMemberohi:WestVirginiaTwoMemberohi:SkilledNursingFacilitiesMember2023-06-300000888491ohi:GuardianMemberohi:FacilitiesSoldMember2023-06-300000888491ohi:GuardianMemberohi:FacilitiesPreviouslySubjectToMortgageFinancingFromEntityMember2023-06-300000888491ohi:ConsulateHealthCareMemberohi:FacilitiesBeingTransitionedToOtherOperatorMember2023-06-300000888491ohi:FourFacilitiesPreviouslySubjectToMortgageFinancingFromEntityMember2023-06-300000888491ohi:FacilitiesAcquiredByOperatorRelatedToOtherRealEstateLoansMember2023-06-300000888491ohi:FacilitiesAcquiredByOperatorRelatedToOtherRealEstateLoansMemberohi:OtherRealEstateLoansDue20232030Member2023-04-140000888491ohi:FacilitiesTransitionedToOperatorsMemberohi:OperatorTwoMemberohi:FourteenOfFortyEightFacilitiesMember2023-03-310000888491ohi:FacilitiesAcquiredMembercountry:GBohi:AssistedLivingFacilitiesMember2023-03-310000888491ohi:FacilitiesTransitionedToOperatorsMemberohi:OperatorThreeMember2023-03-310000888491ohi:FacilitiesAcquiredAcquisitionPendingMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberohi:FourOfSevenFacilitiesMemberohi:ExchangeAccommodationTitleholdersMember2022-12-310000888491ohi:FacilitiesAcquiredMemberohi:PennsylvaniaAndNorthCarolinaMemberohi:SkilledNursingFacilitiesMember2022-12-310000888491ohi:FacilitiesAcquiredMemberohi:PennsylvaniaAndNorthCarolinaMemberohi:AssistedLivingFacilitiesMember2022-12-310000888491ohi:FacilitiesAcquiredAcquisitionCompletedMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberohi:ThreeOfSevenFacilitiesMember2022-12-310000888491ohi:CienaHealthcareMemberohi:MortgageLiensOnFacilitiesRemovedMemberohi:MortgageNoteDue2030TwoOfSevenAdditionalMortgagesMember2022-12-310000888491ohi:CienaHealthcareMemberohi:MortgageLiensOnFacilitiesRemovedMemberohi:MortgageNoteDue2030Member2022-12-310000888491ohi:CienaHealthcareMemberohi:MortgageLiensOnFacilitiesRemovedMemberohi:MortgageNoteDue2030FortyFourPointSevenMillionMortgageMember2022-12-310000888491ohi:FacilitiesWithImpairmentChargesHeldForUseMemberohi:TwentyOfTwentyTwoFacilitiesMember2022-12-310000888491ohi:FacilitiesWithImpairmentChargesHeldForUseMemberohi:FourOfTwentyOfTwentyTwoFacilitiesMember2022-12-310000888491ohi:FacilitiesTransitionedToOperatorsMemberohi:OperatorThreeMember2022-12-310000888491ohi:FacilitiesAcquiredMemberohi:SkilledNursingFacilitiesMember2022-12-310000888491ohi:FacilitiesAcquiredMemberohi:ExchangeAccommodationTitleholdersMember2022-12-310000888491ohi:FacilitiesAcquiredMemberohi:AssistedLivingFacilitiesMember2022-12-310000888491ohi:ConsulateHealthCareMemberohi:FacilitiesWithImpairmentChargesMember2022-12-310000888491ohi:ConsulateHealthCareMemberohi:FacilitiesSoldMember2022-12-310000888491ohi:AgemoHoldingsLlcMemberohi:FacilitiesSoldMember2022-12-310000888491ohi:FacilitiesWithImpairmentChargesMember2022-12-310000888491ohi:FacilitiesWithImpairmentChargesAndClassifiedToAssetsHeldForSaleAndSubsequentlySoldMember2022-12-310000888491ohi:FacilitiesSubjectToDirectFinancingLeasesMember2022-12-310000888491ohi:FacilitiesSoldMember2022-12-310000888491ohi:FacilitiesHeldForSaleMember2022-12-310000888491ohi:FacilitiesCoveredByMortgageAndUsedAsCollateralMember2022-12-310000888491ohi:FacilitiesRelatedToJointVentureMemberohi:TermLoanMaturity2024Memberus-gaap:SecuredDebtMemberohi:AssistedLivingFacilitiesMember2022-09-300000888491ohi:FacilitiesAcquiredMemberohi:UnitedKingdomFourMemberohi:AssistedLivingFacilitiesMember2022-09-300000888491ohi:AgemoHoldingsLlcMemberohi:FacilitiesSoldMember2022-09-300000888491ohi:GulfCoastLlcMemberohi:FacilitiesTransitionedToOtherOperatorsMember2022-06-300000888491ohi:FacilitiesSoldMemberus-gaap:VariableInterestEntityPrimaryBeneficiaryMemberohi:AssistedLivingFacilitiesMember2022-03-310000888491ohi:FacilitiesAcquiredMemberstpr:MDohi:SkilledNursingFacilitiesMember2022-03-310000888491ohi:FacilitiesAcquiredMemberohi:GreatBritainTwoMemberohi:AssistedLivingFacilitiesMember2022-03-310000888491ohi:GulfCoastLlcMemberohi:FacilitiesSoldMember2022-03-310000888491ohi:GuardianMemberohi:FacilitiesTransitionedToOtherOperatorsMember2022-03-310000888491ohi:FacilitiesAcquiredMemberstpr:MDohi:SkilledNursingFacilitiesMember2022-01-010000888491ohi:GuardianMemberohi:FacilitiesCoveredByMortgageAndUsedAsCollateralMemberohi:MortgageNoteDue2031Member2021-12-310000888491ohi:FacilitiesAcquiredMemberohi:SpecialtyMember2021-12-310000888491ohi:FacilitiesAcquiredMemberohi:SkilledNursingFacilitiesMember2021-12-310000888491ohi:FacilitiesAcquiredMemberohi:AssistedLivingFacilitiesMember2021-12-310000888491ohi:FacilitiesWithImpairmentsSoldOrClassifiedAsHeldForSaleMember2021-12-310000888491ohi:FacilitiesSoldMember2021-12-310000888491ohi:GuardianMemberohi:FacilitiesAcquiredFromMortgageMemberohi:OperatorPlacedOnCashBasisMember2021-12-300000888491ohi:GuardianMemberohi:FacilitiesAcquiredFromMortgageMemberohi:MortgageNoteDue2031Member2021-12-300000888491ohi:NewManagerOfGulfCoastFacilitiesMemberohi:FacilitiesWithNewManagerMemberohi:NotesReceivableOtherNotes20MillionWorkingCapitalMember2021-11-300000888491ohi:GulfCoastLlcMemberohi:FacilitiesWithNewManagerMember2021-11-300000888491ohi:GulfCoastLlcMemberohi:FacilitiesLeasedMember2021-11-300000888491ohi:FacilitiesAcquiredMembercountry:GBohi:AssistedLivingFacilitiesMember2021-09-300000888491ohi:SixFacilitiesFinancedMemberstpr:OHohi:MortgageNoteDue2037Member2021-07-010000888491ohi:GulfCoastLlcMemberohi:FacilitiesLeasedMember2021-06-300000888491ohi:FacilitiesSoldMemberohi:SecondSpringHealthcareInvestmentsMemberohi:SixteenFacilitiesMember2021-03-310000888491ohi:FacilitiesSoldMemberohi:SecondSpringHealthcareInvestmentsMemberohi:FiveFacilitiesMember2021-03-310000888491ohi:FacilitiesAcquiredMemberstpr:FLohi:SkilledNursingFacilitiesMember2021-03-310000888491ohi:FacilitiesAcquiredMemberohi:ArizonaCaliforniaFloridaIllinoisNewJerseyOregonPennsylvaniaTennesseeTexasVirginiaAndWashingtonMemberohi:SpecialtyMember2021-03-310000888491ohi:FacilitiesAcquiredMemberohi:ArizonaCaliforniaFloridaIllinoisNewJerseyOregonPennsylvaniaTennesseeTexasVirginiaAndWashingtonMemberohi:AssistedLivingFacilitiesMember2021-03-310000888491ohi:FacilitiesAcquiredMemberohi:TwentyFourFacilitiesMember2021-01-200000888491ohi:FacilitiesAcquiredMemberohi:SeniorLivingFacilitiesMember2021-01-200000888491ohi:CienaHealthcareSubsidiariesMemberohi:FacilitiesCoveredByMortgageAndUsedAsCollateralMemberohi:OneMortgageNoteDueThrough2022ExtendedTo2023Memberstpr:OHohi:SkilledNursingFacilitiesMember2020-06-300000888491ohi:CienaHealthcareMemberohi:FacilitiesCoveredByMortgageAndUsedAsCollateralMemberohi:MortgageNoteDue2030Memberohi:ThirdAmendedMasterMortgageMemberstpr:MIohi:SkilledNursingFacilitiesMember2020-05-310000888491ohi:CienaHealthcareMemberohi:FacilitiesCoveredByMortgageAndUsedAsCollateralMemberohi:MortgageNoteDue2030Memberohi:ThirdAmendedMasterMortgageMemberstpr:MIohi:AssistedLivingFacilitiesMember2020-05-310000888491ohi:CienaHealthcareMemberohi:FacilitiesCoveredByMortgageAndUsedAsCollateralMemberohi:MortgageNoteDue2030Memberstpr:MI2020-05-310000888491ohi:FacilitiesOwnedMemberohi:CindatIcePortfolioJvGpLimitedMemberohi:AssistedLivingFacilitiesMember2019-12-180000888491ohi:CienaHealthcareMemberohi:FacilitiesCoveredByMortgageAndUsedAsCollateralMemberohi:MortgageNoteDue2030Memberstpr:MI2018-06-300000888491ohi:GuardianMemberohi:MortgageNoteDue2031Memberohi:SkilledNursingFacilitiesMember2014-01-170000888491ohi:GuardianMemberohi:MortgageNoteDue2031Memberohi:AssistedLivingFacilitiesMember2014-01-170000888491ohi:SeniorNotesDue2033Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310000888491ohi:SeniorNotesDue2033Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2023-12-310000888491ohi:SeniorNotesDue2031Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310000888491ohi:SeniorNotesDue2031Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2023-12-310000888491ohi:SeniorNotesDue2029Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310000888491ohi:SeniorNotesDue2029Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2023-12-310000888491ohi:SeniorNotesDue2028Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310000888491ohi:SeniorNotesDue2028Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2023-12-310000888491ohi:SeniorNotesDue2027Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310000888491ohi:SeniorNotesDue2027Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2023-12-310000888491ohi:SeniorNotesDue2026Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310000888491ohi:SeniorNotesDue2026Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2023-12-310000888491ohi:SeniorNotesDue2025Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310000888491ohi:SeniorNotesDue2025Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2023-12-310000888491ohi:SeniorNotesDue2024Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310000888491ohi:SeniorNotesDue2024Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2023-12-310000888491ohi:SeniorNotesDue2033Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310000888491ohi:SeniorNotesDue2033Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2022-12-310000888491ohi:SeniorNotesDue2031Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310000888491ohi:SeniorNotesDue2031Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2022-12-310000888491ohi:SeniorNotesDue2029Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310000888491ohi:SeniorNotesDue2029Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2022-12-310000888491ohi:SeniorNotesDue2028Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310000888491ohi:SeniorNotesDue2028Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2022-12-310000888491ohi:SeniorNotesDue2027Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310000888491ohi:SeniorNotesDue2027Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2022-12-310000888491ohi:SeniorNotesDue2026Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310000888491ohi:SeniorNotesDue2026Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2022-12-310000888491ohi:SeniorNotesDue2025Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310000888491ohi:SeniorNotesDue2025Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2022-12-310000888491ohi:SeniorNotesDue2024Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310000888491ohi:SeniorNotesDue2024Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2022-12-310000888491ohi:SeniorNotesDue2023Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310000888491ohi:SeniorNotesDue2023Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2022-12-310000888491us-gaap:AccountsPayableAndAccruedLiabilitiesMemberus-gaap:NetInvestmentHedgingMember2023-12-310000888491us-gaap:OtherAssetsMemberus-gaap:NetInvestmentHedgingMember2023-12-310000888491us-gaap:OtherAssetsMemberus-gaap:NetInvestmentHedgingMember2022-12-310000888491ohi:MortgageLoansGuaranteedByUnitedStatesDepartmentOfHousingAndUrbanDevelopmentMember2019-10-312019-10-310000888491us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2022-03-310000888491us-gaap:AociAttributableToNoncontrollingInterestMember2023-12-310000888491us-gaap:AociAttributableToNoncontrollingInterestMember2022-12-310000888491ohi:ThreeHudMortgagesRetiredMemberus-gaap:SecuredDebtMember2023-12-310000888491ohi:HudMortgageAssumedMemberus-gaap:SecuredDebtMember2023-12-310000888491ohi:HudMortgageAssumedMaturity2046To2052Memberus-gaap:SecuredDebtMember2023-12-310000888491ohi:TwoHudMortgagesAssumedMemberus-gaap:SecuredDebtMember2020-08-260000888491ohi:HudMortgageAssumedMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310000888491ohi:HudMortgageAssumedMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2023-12-310000888491ohi:HudMortgageAssumedMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310000888491ohi:HudMortgageAssumedMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2022-12-3100008884912023-05-252023-05-250000888491us-gaap:RevolvingCreditFacilityMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310000888491us-gaap:RevolvingCreditFacilityMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2023-12-310000888491us-gaap:RevolvingCreditFacilityMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310000888491us-gaap:RevolvingCreditFacilityMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2022-12-310000888491us-gaap:RevolvingCreditFacilityMemberohi:CreditFacilityReplacedMemberus-gaap:UnsecuredDebtMember2021-04-300000888491srt:MaximumMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:UnsecuredDebtMember2021-04-300000888491us-gaap:RevolvingCreditFacilityMemberus-gaap:UnsecuredDebtMember2023-12-310000888491us-gaap:RevolvingCreditFacilityMemberohi:RevolvingCreditFacilityDue2025Memberus-gaap:UnsecuredDebtMember2022-12-310000888491ohi:OtherInvestorsMemberohi:OHIHealthcarePropertiesLimitedPartnershipMember2023-01-012023-12-310000888491ohi:OHIHealthcarePropertiesLimitedPartnershipMemberohi:OmegaOpUnitsMember2023-01-012023-12-310000888491ohi:OHIHealthcarePropertiesLimitedPartnershipMember2023-01-012023-12-310000888491srt:MinimumMember2023-12-310000888491srt:MaximumMember2023-12-310000888491ohi:AgemoHoldingsLlcMember2022-01-012022-12-310000888491us-gaap:ScenarioPlanMemberohi:WorkingCapitalLoansMember2024-06-300000888491us-gaap:SubsequentEventMember2024-02-290000888491ohi:MortgageAndOtherRealEstateLoansMember2024-02-290000888491ohi:NewManagerOfGulfCoastFacilitiesMemberohi:InvestmentTypeCharacteristicNonRealEstateRelatedLoansMemberohi:WorkingCapitalLoansMember2023-12-310000888491ohi:CienaHealthcareMemberohi:MortgageNoteDue2030Memberohi:MasterMortgageMember2023-12-310000888491ohi:OperatorOneMemberohi:FinancingReceivableRevolvingCreditFacilityMember2023-12-310000888491ohi:OperatorOneMemberohi:OtherNotes25MillionRevolvingCreditFacilityMember2023-09-300000888491srt:MaximumMemberohi:WorkingCapitalLoansMember2023-06-300000888491ohi:WvPharmHoldingsLlcInvestmentMemberohi:WorkingCapitalLoans3.3MillionMember2023-06-300000888491ohi:GuardianMemberohi:OneFacilityMember2023-06-300000888491stpr:WV2023-06-300000888491ohi:OmgFormSeniorHoldingsLlcInvestmentMember2023-06-300000888491ohi:RcaNhHoldingsReCoLlcInvestmentMemberohi:OtherRealEstateLoans6.6MillionPrincipalMember2023-04-140000888491ohi:Note2029MezzanineMember2023-04-140000888491ohi:Note2028MezzanineMember2023-04-140000888491ohi:MaplewoodRealEstateHoldingsMemberohi:OtherRealEstateLoansDue2035Member2023-03-310000888491ohi:OperatorOneMembersrt:MinimumMemberohi:OtherNotes25MillionRevolvingCreditFacilityMember2022-12-310000888491ohi:OperatorOneMemberohi:OtherNotes25MillionRevolvingCreditFacilityMember2022-12-310000888491ohi:MaplewoodRealEstateHoldingsMemberohi:OtherRealEstateLoansDue2030Member2022-12-310000888491ohi:NotesReceivableOtherNotesPoint5MillionOf20MillionPromissoryNotesMember2022-12-310000888491ohi:NotesReceivableOtherNotes2Point5MillionOf20MillionPromissoryNotesMember2022-12-310000888491ohi:NotesReceivableOtherNotes17MillionOf20MillionPromissoryNotesMember2022-12-310000888491ohi:NewManagerOfGulfCoastFacilitiesMemberohi:WorkingCapitalLoansMember2021-11-300000888491ohi:ConsulateHealthCareMemberohi:ScenarioPlanMonthlyInstallmentAdvancesMemberohi:NotesReceivableDue8.3MillionTermLoanMember2021-09-010000888491ohi:CienaHealthcareSubsidiariesMemberohi:OneMortgageNoteDueThrough2022ExtendedTo2023Memberstpr:OH2020-06-300000888491ohi:CienaHealthcareMemberohi:MortgageNoteDue2030Memberohi:ThirdAmendedMasterMortgageMemberstpr:MIohi:NineFacilitiesMember2020-05-010000888491ohi:CienaHealthcareMemberohi:MortgageNoteDue2030Memberohi:SecondAmendedMasterMortgageMemberohi:FiveFacilitiesMember2018-06-300000888491ohi:AgemoHoldingsLlcMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberohi:NotesReceivableDue2025WorkingCapitalMember2018-05-170000888491ohi:GuardianMemberohi:NineFacilitiesMemberohi:MortgageNoteDue2031Member2014-01-170000888491srt:MinimumMemberohi:MortgageAndOtherRealEstateLoansMemberus-gaap:SubsequentEventMember2024-02-290000888491srt:MaximumMemberohi:MortgageAndOtherRealEstateLoansMemberus-gaap:SubsequentEventMember2024-02-290000888491ohi:CienaHealthcareSubsidiariesMemberohi:OneMortgageNoteDueThrough2022ExtendedTo2023Memberstpr:OHohi:SkilledNursingFacilitiesMember2023-12-310000888491ohi:OperatorOneMemberus-gaap:ScenarioPlanMemberohi:OtherNotes25MillionRevolvingCreditFacilityMember2023-09-300000888491ohi:EightFacilitiesFinancedMemberohi:MortgageNoteDue2037Member2023-06-300000888491ohi:Note2028MezzanineMember2023-06-300000888491ohi:OtherRealEstateLoans68.0MillionPrincipalMember2023-04-140000888491ohi:OperatorOneMembersrt:MaximumMemberohi:OtherNotes25MillionRevolvingCreditFacilityMember2022-12-310000888491ohi:ConsulateHealthCareMemberohi:NotesReceivableDue2036At2.00PercentMember2022-12-310000888491ohi:ConsulateHealthCareMemberohi:NotesReceivableDue8.3MillionTermLoanMember2022-09-010000888491ohi:GenesisHealthcareMemberohi:OtherRealEstateLoansDue202448MillionTermLoanMember2021-12-310000888491ohi:GenesisHealthcareMemberohi:OtherRealEstateLoansDue202416MillionTermLoanMember2021-12-310000888491ohi:OperatorOneMemberohi:OtherNotes25MillionRevolvingCreditFacilityMember2020-12-310000888491ohi:MaplewoodRealEstateHoldingsMemberohi:OtherRealEstateLoansDue2035Member2020-07-310000888491ohi:GuardianMembersrt:MinimumMemberohi:NineFacilitiesMemberus-gaap:ScenarioPlanMemberohi:MortgageNoteDue2031Member2018-03-310000888491ohi:GuardianMembersrt:MaximumMemberohi:NineFacilitiesMemberus-gaap:ScenarioPlanMemberohi:MortgageNoteDue2031Member2018-03-310000888491ohi:GuardianMemberohi:NineFacilitiesMemberohi:MortgageNoteDue2031Member2018-03-310000888491ohi:GenesisHealthcareMemberohi:OtherRealEstateLoansDue202416MillionTermLoanMember2018-03-060000888491ohi:GenesisHealthcareMemberohi:OtherRealEstateLoansDue202448MillionTermLoanMember2016-07-310000888491ohi:AgemoHoldingsLlcMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMembersrt:ScenarioForecastMemberohi:NotesReceivable82Point2MillionDue2036Member2024-11-010000888491ohi:AgemoHoldingsLlcMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMembersrt:ScenarioForecastMemberohi:NotesReceivable82Point2MillionDue2036Member2024-10-310000888491ohi:OperatorOneMemberus-gaap:ScenarioPlanMemberohi:OtherNotes25MillionRevolvingCreditFacilityMember2024-10-310000888491ohi:GreaterThan15MillionMemberus-gaap:ScenarioPlanMemberohi:NotesReceivableDue2024Memberus-gaap:SubsequentEventMember2024-06-300000888491ohi:GreaterThan15MillionMemberus-gaap:ScenarioPlanMemberohi:NotesReceivableDue2024Memberus-gaap:SubsequentEventMember2024-04-300000888491srt:WeightedAverageMemberohi:MortgageAndOtherRealEstateLoansMemberus-gaap:SubsequentEventMember2024-02-290000888491ohi:GreaterThan15MillionMemberohi:NotesReceivableDue2024Memberus-gaap:SubsequentEventMember2024-01-310000888491ohi:OneMortgageNoteDueThrough2022ExtendedTo2024Memberstpr:OHus-gaap:SubsequentEventMember2024-01-010000888491ohi:CienaHealthcareMemberohi:FacilitiesCoveredByMortgageAndUsedAsCollateralMemberohi:MortgageNoteDue2030FortyFourPointSevenMillionMortgageMemberstpr:MIohi:SkilledNursingFacilitiesMember2023-12-310000888491srt:WeightedAverageMemberohi:OtherRealEstateLoansOtherMember2023-12-310000888491srt:WeightedAverageMemberohi:OtherRealEstateLoansDue2024Member2023-12-310000888491srt:WeightedAverageMemberohi:OtherRealEstateLoansDue20232030Member2023-12-310000888491srt:WeightedAverageMemberohi:OtherMortgageNotesMember2023-12-310000888491srt:WeightedAverageMemberohi:NotesReceivableOtherNoteMember2023-12-310000888491srt:WeightedAverageMemberohi:NotesReceivableDue2024Through2029Member2023-12-310000888491srt:WeightedAverageMemberohi:NotesReceivableDue2024Through2026Member2023-12-310000888491srt:WeightedAverageMemberohi:MortgageNoteDue2030Member2023-12-310000888491ohi:NotesReceivableDue2027Member2023-12-310000888491ohi:MortgageNoteDue2031Member2023-12-310000888491ohi:NotesReceivableDue2024Through2026Member2023-12-190000888491ohi:TwoFacilitiesMemberohi:MortgageNoteDue2026Member2023-10-310000888491ohi:OtherRealEstateLoansDue2028Member2023-10-310000888491ohi:GreaterThan45MillionMemberus-gaap:ScenarioPlanMemberohi:NotesReceivableDue2024Member2023-10-160000888491ohi:LessThan45MillionMemberohi:NotesReceivableDue2024Member2023-10-150000888491ohi:GreaterThan45MillionMemberohi:NotesReceivableDue2024Member2023-10-150000888491ohi:WorkingCapitalLoansMember2023-06-300000888491ohi:OtherInvestmentMezzanineLoanMember2023-06-300000888491ohi:Note2029MezzanineMember2023-06-300000888491ohi:OtherRealEstateLoans6.6MillionPrincipalMember2023-04-140000888491ohi:OtherRealEstateLoans6.6And68.0And15.0MillionPrincipalOneAnd15.0MillionPrincipalTwoMember2023-04-140000888491ohi:CienaHealthcareSubsidiariesMemberus-gaap:ScenarioPlanMemberohi:OneMortgageNoteDueThrough2022ExtendedTo2023Memberstpr:OHohi:SkilledNursingFacilitiesMember2023-04-010000888491ohi:AgemoHoldingsLlcMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberohi:NotesReceivable82Point2MillionDue2036Member2023-03-310000888491ohi:ConsulateHealthCareMemberohi:NotesReceivableDue2036At2.00PercentMember2023-01-010000888491ohi:NotesReceivableOtherNotes20MillionPromissoryNotesMember2022-12-310000888491ohi:OperatorOneMemberohi:OtherNotes25MillionRevolvingCreditFacilityMember2022-10-010000888491ohi:NotesReceivableDue2027Member2022-09-010000888491ohi:OtherRealEstateLoans35.6MillionPrincipalMember2022-06-280000888491ohi:NotesReceivableRevolvingLineOfCreditDue2024Member2022-06-280000888491ohi:MaplewoodRealEstateHoldingsMemberohi:OtherRealEstateLoansDue2035Member2022-06-220000888491ohi:MaplewoodRealEstateHoldingsMemberohi:OtherRealEstateLoansDue2030Member2022-06-220000888491us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberohi:OtherRealEstateLoansOtherInterestOf12.00PercentMember2022-06-020000888491ohi:CienaHealthcareSubsidiariesMemberus-gaap:ScenarioPlanMemberohi:OneMortgageNoteDueThrough2022ExtendedTo2023Memberstpr:OHohi:SkilledNursingFacilitiesMember2022-04-010000888491ohi:ConsulateHealthCareMemberohi:NotesReceivableDue25MillionTermLoanMember2022-03-250000888491ohi:NewManagerOfGulfCoastFacilitiesMemberohi:NotesReceivableOtherNotes20MillionWorkingCapitalMember2021-11-300000888491ohi:OperatorOneMemberohi:OtherNotes25MillionRevolvingCreditFacilityMember2021-10-010000888491ohi:ConsulateHealthCareMemberohi:NotesReceivableDue8.3MillionTermLoanMember2021-09-010000888491ohi:MaplewoodRealEstateHoldingsMemberohi:OtherRealEstateLoansDue2030Member2020-07-310000888491ohi:CienaHealthcareSubsidiariesMemberohi:OneMortgageNoteDueThrough2022ExtendedTo2023Memberstpr:OHohi:SkilledNursingFacilitiesMember2020-06-300000888491ohi:CienaHealthcareMemberohi:MortgageNoteDue2030Memberohi:ThirdAmendedMasterMortgageMemberstpr:MIohi:NineFacilitiesMember2020-05-310000888491ohi:CienaHealthcareMemberohi:MortgageNoteDue2030Memberohi:MasterMortgageMember2020-05-310000888491ohi:CienaHealthcareMemberohi:MortgageNoteDue2030Memberohi:MasterMortgageMember2020-04-300000888491ohi:NotesReceivableDue2024Member2019-07-180000888491ohi:LakewayRealtyLLCMemberohi:MortgageNoteDue2025Member2019-05-170000888491ohi:CienaHealthcareMemberohi:MortgageNoteDue2030Memberohi:SecondAmendedMasterMortgageMember2018-06-300000888491ohi:AgemoHoldingsLlcMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberohi:NotesReceivableDue2025WorkingCapitalMember2018-05-070000888491ohi:AgemoHoldingsLlcMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberohi:NotesReceivableDue2024TermLoanMember2016-09-300000888491ohi:CienaHealthcareMemberohi:MortgageNoteDue2030Memberohi:MasterMortgageMember2014-06-140000888491ohi:MortgageReceivablesAndOtherRealEstateLoansMember2023-01-012023-12-310000888491ohi:InvestmentTypeCharacteristicRealEstateRelatedLoansMemberus-gaap:MortgageReceivablesMember2023-01-012023-12-310000888491ohi:InvestmentTypeCharacteristicRealEstateRelatedLoansMemberus-gaap:LoansReceivableMember2023-01-012023-12-310000888491us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2023-01-012023-12-310000888491ohi:MaplewoodRealEstateHoldingsMemberohi:InvestmentTypeCharacteristicRealEstateRelatedLoansMemberohi:OtherRealEstateLoansDue2035Member2023-01-012023-03-310000888491ohi:InvestmentTypeCharacteristicRealEstateRelatedLoansMemberus-gaap:MortgageReceivablesMember2022-01-012022-12-310000888491ohi:InvestmentTypeCharacteristicRealEstateRelatedLoansMemberus-gaap:LoansReceivableMember2022-01-012022-12-310000888491us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2022-01-012022-12-310000888491ohi:InvestmentTypeCharacteristicRealEstateRelatedLoansMemberus-gaap:MortgageReceivablesMember2021-01-012021-12-310000888491ohi:InvestmentTypeCharacteristicRealEstateRelatedLoansMemberus-gaap:LoansReceivableMember2021-01-012021-12-310000888491us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2021-01-012021-12-3100008884912022-07-012022-09-300000888491ohi:SecondSpringTwoLimitedLiabilityCompanyMember2023-01-012023-12-310000888491ohi:SecondSpringHealthcareInvestmentsMember2023-01-012023-12-310000888491ohi:OmgSeniorHousingLlcMember2023-01-012023-12-310000888491ohi:OmgFormSeniorHoldingsLlcInvestmentMember2023-01-012023-12-310000888491ohi:LakewayRealtyLLCMember2023-01-012023-12-310000888491ohi:CindatIcePortfolioJvGpLimitedMember2023-01-012023-12-310000888491ohi:SecondSpringTwoLimitedLiabilityCompanyMember2022-01-012022-12-310000888491ohi:SecondSpringHealthcareInvestmentsMember2022-01-012022-12-310000888491ohi:OmgSeniorHousingLlcMember2022-01-012022-12-310000888491ohi:OmgFormSeniorHoldingsLlcInvestmentMember2022-01-012022-12-310000888491ohi:OhChsSnpIncMember2022-01-012022-12-310000888491ohi:LakewayRealtyLLCMember2022-01-012022-12-310000888491ohi:CindatIcePortfolioJvGpLimitedMember2022-01-012022-12-310000888491ohi:SecondSpringTwoLimitedLiabilityCompanyMember2021-01-012021-12-310000888491ohi:SecondSpringHealthcareInvestmentsMember2021-01-012021-12-310000888491ohi:OmgSeniorHousingLlcMember2021-01-012021-12-310000888491ohi:OmgFormSeniorHoldingsLlcInvestmentMember2021-01-012021-12-310000888491ohi:OhChsSnpIncMember2021-01-012021-12-310000888491ohi:LakewayRealtyLLCMember2021-01-012021-12-310000888491ohi:CindatIcePortfolioJvGpLimitedMember2021-01-012021-12-310000888491ohi:FacilitiesClassifiedToAssetHeldForSaleMember2023-10-012023-12-310000888491ohi:FacilitiesWithImpairmentsHeldForUseAndLaterSoldMemberohi:TwentyOfTwentyThreeFacilitiesMember2023-01-012023-12-310000888491ohi:FacilitiesWithImpairmentChargesHeldForUseMemberohi:TwentyThreeOfTwentyFiveFacilitiesMember2023-01-012023-12-310000888491ohi:FacilitiesWithImpairmentChargesHeldForUseAndLaterClosedMemberohi:ThreeOfTwentyThreeFacilitiesMember2023-01-012023-12-310000888491ohi:TwoOfTwentyFiveFacilitiesMember2023-01-012023-12-310000888491ohi:TwentyFiveFacilitiesMember2023-01-012023-12-310000888491ohi:FacilitiesWithImpairmentChargesMemberohi:OperatorThreeMemberohi:FourOfTwentyOfTwentyTwoFacilitiesMember2022-01-012022-12-310000888491ohi:ConsulateHealthCareMemberohi:TwelveOfTwentyOfTwentyTwoFacilitiesMember2022-01-012022-12-310000888491ohi:TwoOfTwentyTwoFacilitiesMember2022-01-012022-12-310000888491ohi:TwentyTwoFacilitiesMember2022-01-012022-12-310000888491ohi:TwentyOfTwentyTwoFacilitiesMember2022-01-012022-12-310000888491ohi:FourteenFacilitiesMember2021-01-012021-12-310000888491ohi:ThreeHudMortgagesRetiredMemberus-gaap:SecuredDebtMember2023-10-012023-12-310000888491ohi:SeniorLivingFocusedTechnologyMember2022-10-012022-12-310000888491ohi:GuardianMemberohi:FiveOfSixFacilitiesMember2023-04-012023-06-300000888491ohi:SixtyNineFacilitiesMember2023-01-012023-12-310000888491ohi:AgemoHoldingsLlcMemberohi:TwentyTwoFacilitiesMember2022-07-012022-12-310000888491ohi:SixtySixFacilitiesMember2022-01-012022-12-310000888491ohi:GuardianMemberohi:NineFacilitiesMember2022-01-012022-06-300000888491ohi:SecondSpringHealthcareInvestmentsMemberohi:SixteenFacilitiesMember2021-01-012021-12-310000888491ohi:FortyEightFacilitiesMember2021-01-012021-12-310000888491ohi:SecondSpringHealthcareInvestmentsMemberohi:SixteenFacilitiesMember2021-01-012021-03-310000888491ohi:SecondSpringHealthcareInvestmentsMemberohi:SixteenFacilitiesMember2021-01-012021-03-310000888491us-gaap:AboveMarketLeasesMember2023-12-310000888491ohi:AgemoHoldingsLlcMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberohi:NotesReceivable82Point2MillionDue2036Member2023-01-012023-12-310000888491ohi:GuardianMember2023-01-012023-12-310000888491ohi:GuardianMember2022-01-012022-12-310000888491ohi:FourFacilitiesPreviouslySubjectToMortgageFinancingFromEntityMemberohi:MortgageNoteDue2031Memberus-gaap:PrincipalForgivenessMember2023-04-012023-06-300000888491ohi:InvestmentTypeCharacteristicRealEstateRelatedLoansMemberohi:InternalCreditRatingTwoMember2023-01-012023-12-310000888491ohi:InvestmentTypeCharacteristicRealEstateRelatedLoansMemberohi:InternalCreditRatingThreeMember2023-01-012023-12-310000888491ohi:InvestmentTypeCharacteristicRealEstateRelatedLoansMemberohi:InternalCreditRatingOneMember2023-01-012023-12-310000888491ohi:InvestmentTypeCharacteristicRealEstateRelatedLoansMemberohi:InternalCreditRatingFourMember2023-01-012023-12-310000888491ohi:InvestmentTypeCharacteristicNonRealEstateRelatedLoansMemberohi:InternalCreditRatingTwoMember2023-01-012023-12-310000888491ohi:InvestmentTypeCharacteristicNonRealEstateRelatedLoansMemberohi:InternalCreditRatingThreeMember2023-01-012023-12-310000888491ohi:InvestmentTypeCharacteristicNonRealEstateRelatedLoansMemberohi:InternalCreditRatingSixMember2023-01-012023-12-310000888491ohi:InvestmentTypeCharacteristicNonRealEstateRelatedLoansMemberohi:InternalCreditRatingFourMember2023-01-012023-12-310000888491ohi:GulfCoastLlcMemberohi:NotesReceivableOtherNotes25MillionSeniorSecuredFacilityMember2023-01-012023-12-310000888491ohi:GulfCoastLlcMemberohi:InvestmentTypeCharacteristicNonRealEstateRelatedLoansMember2023-01-012023-12-310000888491ohi:NotesReceivableOtherNotes20MillionWorkingCapitalMember2023-01-012023-12-310000888491ohi:ConsulateHealthCareMemberohi:NotesReceivableDue8.3MillionTermLoanMember2022-10-012022-12-310000888491ohi:ConsulateHealthCareMemberohi:NotesReceivableDue25MillionTermLoanMember2022-10-012022-12-310000888491ohi:GuardianMemberohi:MortgageNoteDue2031Member2022-07-012022-12-310000888491ohi:NewManagerOfGulfCoastFacilitiesMemberohi:InvestmentTypeCharacteristicNonRealEstateRelatedLoansMemberohi:WorkingCapitalLoansMember2022-01-012022-12-310000888491ohi:AgemoHoldingsLlcMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberohi:NotesReceivableDue2025WorkingCapitalMember2022-01-012022-12-310000888491ohi:AgemoHoldingsLlcMemberohi:InvestmentTypeCharacteristicNonRealEstateRelatedLoansMemberohi:WorkingCapitalLoansMember2022-01-012022-12-310000888491ohi:InvestmentTypeCharacteristicRealEstateRelatedLoansMemberohi:InternalCreditRatingTwoMember2022-01-012022-12-310000888491ohi:InvestmentTypeCharacteristicRealEstateRelatedLoansMemberohi:InternalCreditRatingThreeMember2022-01-012022-12-310000888491ohi:InvestmentTypeCharacteristicRealEstateRelatedLoansMemberohi:InternalCreditRatingOneMember2022-01-012022-12-310000888491ohi:InvestmentTypeCharacteristicRealEstateRelatedLoansMemberohi:InternalCreditRatingFourMember2022-01-012022-12-310000888491ohi:InvestmentTypeCharacteristicRealEstateRelatedLoansMemberohi:InternalCreditRatingFiveMember2022-01-012022-12-310000888491ohi:InvestmentTypeCharacteristicNonRealEstateRelatedLoansMemberohi:InternalCreditRatingTwoMember2022-01-012022-12-310000888491ohi:InvestmentTypeCharacteristicNonRealEstateRelatedLoansMemberohi:InternalCreditRatingThreeMember2022-01-012022-12-310000888491ohi:InvestmentTypeCharacteristicNonRealEstateRelatedLoansMemberohi:InternalCreditRatingFourMember2022-01-012022-12-310000888491ohi:InvestmentTypeCharacteristicNonRealEstateRelatedLoansMemberohi:InternalCreditRatingFiveMember2022-01-012022-12-310000888491ohi:ConsulateHealthCareMemberohi:InvestmentTypeCharacteristicNonRealEstateRelatedLoansMember2022-01-012022-12-310000888491ohi:GuardianMemberohi:MortgageNoteDue2031Member2022-01-012022-03-310000888491ohi:GuardianMemberohi:SevenOfNineFacilitiesMemberohi:MortgageNoteDue2031Member2021-10-012021-12-310000888491ohi:GulfCoastLlcMemberohi:NotesReceivableOtherNotes25MillionSeniorSecuredFacilityMember2021-10-012021-12-310000888491ohi:GulfCoastLlcMemberohi:InvestmentTypeCharacteristicNonRealEstateRelatedLoansMember2021-10-012021-12-310000888491ohi:AgemoHoldingsLlcMemberohi:InvestmentTypeCharacteristicNonRealEstateRelatedLoansMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberohi:InternalCreditRatingFiveMember2021-07-012021-09-300000888491ohi:AgemoHoldingsLlcMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberohi:NotesReceivableDue2036At5.63PercentMember2021-07-012021-09-300000888491ohi:AgemoHoldingsLlcMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2021-07-012021-09-300000888491ohi:InvestmentTypeCharacteristicRealEstateRelatedLoansMemberohi:OneAdditionalRealEstateReceivableMember2021-04-012021-06-300000888491ohi:InvestmentTypeCharacteristicRealEstateRelatedLoansMemberohi:InternalCreditRatingTwoMember2021-01-012021-12-310000888491ohi:InvestmentTypeCharacteristicRealEstateRelatedLoansMemberohi:InternalCreditRatingThreeMember2021-01-012021-12-310000888491ohi:InvestmentTypeCharacteristicRealEstateRelatedLoansMemberohi:InternalCreditRatingSixMember2021-01-012021-12-310000888491ohi:InvestmentTypeCharacteristicRealEstateRelatedLoansMemberohi:InternalCreditRatingFourMember2021-01-012021-12-310000888491ohi:InvestmentTypeCharacteristicRealEstateRelatedLoansMemberohi:InternalCreditRatingFiveMember2021-01-012021-12-310000888491ohi:InvestmentTypeCharacteristicNonRealEstateRelatedLoansMemberohi:InternalCreditRatingTwoMember2021-01-012021-12-310000888491ohi:InvestmentTypeCharacteristicNonRealEstateRelatedLoansMemberohi:InternalCreditRatingThreeMember2021-01-012021-12-310000888491ohi:InvestmentTypeCharacteristicNonRealEstateRelatedLoansMemberohi:InternalCreditRatingSixMember2021-01-012021-12-310000888491ohi:InvestmentTypeCharacteristicNonRealEstateRelatedLoansMemberohi:InternalCreditRatingFourMember2021-01-012021-12-310000888491ohi:GuardianMemberohi:InvestmentTypeCharacteristicRealEstateRelatedLoansMember2021-01-012021-12-310000888491ohi:InvestmentTypeCharacteristicRealEstateRelatedLoansMember2021-01-012021-12-310000888491ohi:CienaHealthcareMemberohi:MortgageNoteDue2030Memberohi:ThirdAmendedMasterMortgageMemberstpr:MIohi:NineFacilitiesMember2023-12-310000888491ohi:CienaHealthcareMemberohi:MortgageNoteDue2030Memberohi:MasterMortgageMemberohi:NineteenFacilitiesMember2023-12-310000888491ohi:EightFacilitiesFinancedMemberstpr:OHohi:MortgageNoteDue2037Member2023-12-310000888491ohi:CienaHealthcareMemberohi:OneMortgageNoteDueThrough2022ExtendedTo2023Memberstpr:OH2023-12-310000888491ohi:CienaHealthcareMemberohi:MortgageNoteDue2030Memberohi:AmendedMasterMortgageMember2023-12-310000888491ohi:CienaHealthcareMemberohi:MortgageNoteDue2030FortyFourPointSevenMillionMortgageMemberohi:FourFacilitiesMember2023-12-310000888491ohi:OperatorOneMemberohi:OtherNotes25MillionRevolvingCreditFacilityMember2023-12-310000888491ohi:NewManagerOfGulfCoastFacilitiesMemberohi:NotesReceivableOtherNotes20MillionWorkingCapitalMember2023-12-310000888491ohi:LakewayRealtyLLCMemberohi:MortgageNoteDue2025Member2023-12-310000888491ohi:CienaHealthcareMemberus-gaap:ConstructionLoansMember2023-12-310000888491ohi:CienaHealthcareMemberohi:MortgageNoteDue2030Member2023-12-310000888491ohi:WorkingCapitalLoansMember2023-12-310000888491ohi:RcaNhHoldingsReCoLlcInvestmentAndWvPharmHoldingsLlcInvestmentMemberMember2023-12-310000888491ohi:OtherRealEstateLoansDue2035Member2023-12-310000888491ohi:OtherRealEstateLoansDue2024Member2023-12-310000888491ohi:OtherRealEstateLoansDue20232030Member2023-12-310000888491ohi:OtherRealEstateLoans35.6MillionPrincipalMember2023-12-310000888491ohi:OtherNotes9.4MillionMember2023-12-310000888491ohi:OtherInvestmentMezzanineLoanMember2023-12-310000888491ohi:OperatorOneMember2023-12-310000888491ohi:NotesReceivableRevolvingLineOfCreditDue2024Member2023-12-310000888491ohi:NotesReceivableOtherNotes20MillionPromissoryNotesMember2023-12-310000888491ohi:NotesReceivableOtherNoteMember2023-12-310000888491ohi:NotesReceivableDue2036At5.63PercentMember2023-12-310000888491ohi:NotesReceivableDue2036At2.00PercentMember2023-12-310000888491ohi:NotesReceivableDue2024Through2029Member2023-12-310000888491ohi:NotesReceivableDue2024Through2026Member2023-12-310000888491ohi:NotesReceivableDue2024Member2023-12-310000888491ohi:MortgageNoteDue2037Member2023-12-310000888491ohi:MortgageNoteDue2030Member2023-12-310000888491ohi:MortgageNoteDue2028Member2023-12-310000888491ohi:MortgageNoteDue2025Member2023-12-310000888491ohi:NewOperatorMemberohi:MortgageNotesDue2028Member2023-12-280000888491ohi:MortgageNoteDue2026Member2023-10-310000888491ohi:AgemoHoldingsLlcMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberohi:NotesReceivableDueLoanMember2023-03-310000888491ohi:AgemoHoldingsLlcMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberohi:NotesReceivableDueLoanBMember2023-03-310000888491ohi:AgemoHoldingsLlcMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberohi:AdditionalPrincipalDeferredRentWorkingCapitalMember2023-03-310000888491ohi:OtherRealEstateLoansOtherMember2022-12-310000888491ohi:OtherRealEstateLoansDue2035Member2022-12-310000888491ohi:OtherRealEstateLoansDue2024Member2022-12-310000888491ohi:OtherRealEstateLoansDue20232030Member2022-12-310000888491ohi:OtherMortgageNotesMember2022-12-310000888491ohi:NotesReceivableOtherNoteMember2022-12-310000888491ohi:NotesReceivableDue2036At5.63PercentMember2022-12-310000888491ohi:NotesReceivableDue2036At2.00PercentMember2022-12-310000888491ohi:NotesReceivableDue2027Member2022-12-310000888491ohi:NotesReceivableDue2024Through2029Member2022-12-310000888491ohi:NotesReceivableDue2024Through2026Member2022-12-310000888491ohi:NotesReceivableDue2024Member2022-12-310000888491ohi:MortgageNoteDue2037Member2022-12-310000888491ohi:MortgageNoteDue2031Member2022-12-310000888491ohi:MortgageNoteDue2030Member2022-12-310000888491ohi:MortgageNoteDue2025Member2022-12-310000888491ohi:CienaHealthcareMemberohi:FacilitiesFormerlyCoveredByMortgageNowAcquiredMemberohi:MortgageNoteDue2030Memberus-gaap:ConstructionLoansMember2021-09-300000888491ohi:TwoFacilitiesFinancedMemberstpr:OHohi:MortgageNoteDue2037Member2021-07-010000888491ohi:EightFacilitiesFinancedMemberstpr:OHohi:MortgageNoteDue2037Member2021-07-010000888491ohi:InvestmentTypeCharacteristicRealEstateRelatedLoansMemberohi:InternalCreditRatingSixMember2023-01-012023-12-310000888491ohi:InvestmentTypeCharacteristicRealEstateRelatedLoansMember2023-01-012023-12-310000888491ohi:InvestmentTypeCharacteristicRealEstateRelatedLoansMemberohi:InternalCreditRatingSixMember2022-01-012022-12-310000888491ohi:InvestmentTypeCharacteristicRealEstateRelatedLoansMember2022-01-012022-12-310000888491ohi:InvestmentTypeCharacteristicNonRealEstateRelatedLoansMember2022-01-012022-12-310000888491ohi:InvestmentTypeCharacteristicNonRealEstateRelatedLoansMemberohi:InternalCreditRatingFiveMember2021-01-012021-12-310000888491ohi:InvestmentTypeCharacteristicNonRealEstateRelatedLoansMember2021-01-012021-12-310000888491ohi:InvestmentTypeCharacteristicNonRealEstateRelatedLoansMemberohi:InternalCreditRatingFiveMember2023-01-012023-12-310000888491ohi:AgemoHoldingsLlcMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberohi:AdditionalPrincipalDeferredRentWorkingCapitalMember2023-01-012023-03-310000888491ohi:AgemoHoldingsLlcMemberohi:InvestmentTypeCharacteristicNonRealEstateRelatedLoansMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberohi:InternalCreditRatingSixMember2021-07-012021-09-300000888491ohi:FourFacilitiesPreviouslySubjectToMortgageFinancingFromEntityMemberohi:MortgageNoteDue2031Member2023-06-300000888491ohi:AgemoHoldingsLlcMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberohi:NotesReceivable82Point2MillionDue2036Member2023-12-310000888491ohi:InvestmentTypeCharacteristicRealEstateRelatedLoansMemberohi:InternalCreditRatingTwoMember2023-12-310000888491ohi:InvestmentTypeCharacteristicNonRealEstateRelatedLoansMemberohi:InternalCreditRatingTwoMember2023-12-310000888491ohi:InvestmentTypeCharacteristicRealEstateRelatedLoansMemberohi:InternalCreditRatingTwoMember2022-12-310000888491ohi:InvestmentTypeCharacteristicRealEstateRelatedLoansMemberohi:InternalCreditRatingThreeMember2022-12-310000888491ohi:InvestmentTypeCharacteristicRealEstateRelatedLoansMemberohi:InternalCreditRatingSixMember2022-12-310000888491ohi:InvestmentTypeCharacteristicRealEstateRelatedLoansMemberohi:InternalCreditRatingOneMember2022-12-310000888491ohi:InvestmentTypeCharacteristicRealEstateRelatedLoansMemberohi:InternalCreditRatingFourMember2022-12-310000888491ohi:InvestmentTypeCharacteristicNonRealEstateRelatedLoansMemberohi:InternalCreditRatingTwoMember2022-12-310000888491ohi:InvestmentTypeCharacteristicNonRealEstateRelatedLoansMemberohi:InternalCreditRatingThreeMember2022-12-310000888491ohi:InvestmentTypeCharacteristicNonRealEstateRelatedLoansMemberohi:InternalCreditRatingSixMember2022-12-310000888491ohi:InvestmentTypeCharacteristicNonRealEstateRelatedLoansMemberohi:InternalCreditRatingFourMember2022-12-310000888491ohi:InvestmentTypeCharacteristicNonRealEstateRelatedLoansMemberohi:InternalCreditRatingFiveMember2022-12-310000888491us-gaap:MortgageReceivablesMember2022-12-310000888491us-gaap:LoansReceivableMember2022-12-310000888491ohi:InvestmentTypeCharacteristicRealEstateRelatedLoansMember2022-12-310000888491ohi:InvestmentTypeCharacteristicNonRealEstateRelatedLoansMember2022-12-310000888491ohi:InvestmentTypeCharacteristicRealEstateRelatedLoansMemberohi:InternalCreditRatingTwoMember2021-12-310000888491ohi:InvestmentTypeCharacteristicRealEstateRelatedLoansMemberohi:InternalCreditRatingThreeMember2021-12-310000888491ohi:InvestmentTypeCharacteristicRealEstateRelatedLoansMemberohi:InternalCreditRatingSixMember2021-12-310000888491ohi:InvestmentTypeCharacteristicRealEstateRelatedLoansMemberohi:InternalCreditRatingFourMember2021-12-310000888491ohi:InvestmentTypeCharacteristicRealEstateRelatedLoansMemberohi:InternalCreditRatingFiveMember2021-12-310000888491ohi:InvestmentTypeCharacteristicNonRealEstateRelatedLoansMemberohi:InternalCreditRatingTwoMember2021-12-310000888491ohi:InvestmentTypeCharacteristicNonRealEstateRelatedLoansMemberohi:InternalCreditRatingThreeMember2021-12-310000888491ohi:InvestmentTypeCharacteristicNonRealEstateRelatedLoansMemberohi:InternalCreditRatingSixMember2021-12-310000888491ohi:InvestmentTypeCharacteristicNonRealEstateRelatedLoansMemberohi:InternalCreditRatingFourMember2021-12-310000888491ohi:InvestmentTypeCharacteristicNonRealEstateRelatedLoansMemberohi:InternalCreditRatingFiveMember2021-12-310000888491ohi:InvestmentTypeCharacteristicRealEstateRelatedLoansMember2021-12-310000888491ohi:InvestmentTypeCharacteristicNonRealEstateRelatedLoansMember2021-12-310000888491ohi:InvestmentTypeCharacteristicRealEstateRelatedLoansMemberohi:InternalCreditRatingTwoMember2020-12-310000888491ohi:InvestmentTypeCharacteristicRealEstateRelatedLoansMemberohi:InternalCreditRatingThreeMember2020-12-310000888491ohi:InvestmentTypeCharacteristicRealEstateRelatedLoansMemberohi:InternalCreditRatingSixMember2020-12-310000888491ohi:InvestmentTypeCharacteristicRealEstateRelatedLoansMemberohi:InternalCreditRatingFourMember2020-12-310000888491ohi:InvestmentTypeCharacteristicRealEstateRelatedLoansMemberohi:InternalCreditRatingFiveMember2020-12-310000888491ohi:InvestmentTypeCharacteristicNonRealEstateRelatedLoansMemberohi:InternalCreditRatingTwoMember2020-12-310000888491ohi:InvestmentTypeCharacteristicNonRealEstateRelatedLoansMemberohi:InternalCreditRatingThreeMember2020-12-310000888491ohi:InvestmentTypeCharacteristicNonRealEstateRelatedLoansMemberohi:InternalCreditRatingFourMember2020-12-310000888491ohi:InvestmentTypeCharacteristicNonRealEstateRelatedLoansMemberohi:InternalCreditRatingFiveMember2020-12-310000888491ohi:InvestmentTypeCharacteristicRealEstateRelatedLoansMember2020-12-310000888491ohi:InvestmentTypeCharacteristicNonRealEstateRelatedLoansMember2020-12-310000888491ohi:MortgageLoansGuaranteedByUnitedStatesDepartmentOfHousingAndUrbanDevelopmentMember2023-12-310000888491ohi:SecondSpringHealthcareInvestmentsMemberohi:SkilledNursingFacilitiesMember2022-12-310000888491ohi:LakewayRealtyLLCMemberohi:SpecialtyMember2022-12-310000888491ohi:CindatIcePortfolioJvGpLimitedMemberohi:AssistedLivingFacilitiesMember2022-12-310000888491ohi:OhChsSnpIncMember2022-12-310000888491ohi:SecondSpringHealthcareInvestmentsMemberohi:SkilledNursingFacilitiesMember2023-12-310000888491ohi:RcaNhHoldingsReCoLlcInvestmentMemberohi:SkilledNursingFacilitiesMember2023-12-310000888491ohi:OmgSeniorHousingLlcMemberohi:SpecialtyMember2023-12-310000888491ohi:OmgFormSeniorHoldingsLlcInvestmentMemberohi:AssistedLivingFacilitiesMember2023-12-310000888491ohi:LakewayRealtyLLCMemberohi:SpecialtyMember2023-12-310000888491ohi:CindatIcePortfolioJvGpLimitedMemberohi:AssistedLivingFacilitiesMember2023-12-310000888491ohi:WvPharmHoldingsLlcInvestmentMember2023-12-310000888491ohi:OhChsSnpIncMember2023-12-310000888491ohi:ChsOhiInsightHoldingsLlcInvestmentMember2023-12-310000888491ohi:TechnologyServiceCompanyForSeniorLivingFacilitiesMember2022-12-310000888491ohi:CindatIcePortfolioJvGpLimitedMember2019-12-180000888491ohi:LakewayRealtyLLCMember2019-05-170000888491ohi:ScenarioRecognizedPeriod30MonthsMemberus-gaap:StockAppreciationRightsSARSMember2023-01-012023-12-310000888491ohi:ScenarioRecognizedPeriod12MonthsMemberus-gaap:StockAppreciationRightsSARSMember2023-01-012023-12-310000888491ohi:PerformanceBasedVestingRequirementsOnTotalShareholderReturnMemberohi:PerformanceBasedRestrictedStockUnitsAndProfitInterestUnitsMember2023-01-012023-12-310000888491ohi:PerformanceBasedVestingRequirementsOnRelativeTotalShareholderReturnMemberohi:PerformanceBasedRestrictedStockUnitsAndProfitInterestUnitsMember2023-01-012023-12-310000888491ohi:ScenarioRecognizedPeriod30MonthsMemberus-gaap:StockAppreciationRightsSARSMember2023-12-310000888491ohi:ScenarioRecognizedPeriod12MonthsMemberus-gaap:StockAppreciationRightsSARSMember2023-12-310000888491ohi:PerformanceBasedVestingRequirementsOnTotalShareholderReturnMemberohi:PerformanceBasedRestrictedStockUnitsAndProfitInterestUnitsMember2023-12-310000888491ohi:PerformanceBasedVestingRequirementsOnRelativeTotalShareholderReturnMemberohi:PerformanceBasedRestrictedStockUnitsAndProfitInterestUnitsMember2023-12-310000888491us-gaap:AccumulatedDistributionsInExcessOfNetIncomeMember2023-01-012023-12-310000888491us-gaap:AccumulatedDistributionsInExcessOfNetIncomeMember2022-01-012022-12-310000888491us-gaap:AccumulatedDistributionsInExcessOfNetIncomeMember2021-01-012021-12-310000888491ohi:InternalCreditRatingFiveMember2022-12-310000888491ohi:InternalCreditRatingThreeMember2021-12-310000888491ohi:InternalCreditRatingThreeMember2020-12-310000888491ohi:InternalCreditRatingFiveMember2023-01-012023-12-310000888491ohi:InternalCreditRatingThreeMember2022-01-012022-12-310000888491ohi:InternalCreditRatingFiveMember2022-01-012022-12-310000888491ohi:InternalCreditRatingThreeMember2021-01-012021-12-310000888491stpr:DC2023-12-310000888491ohi:SeniorTermLoanDue2025Memberus-gaap:UnsecuredDebtMemberus-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember2023-12-310000888491ohi:OmegaOpTermLoanMemberus-gaap:UnsecuredDebtMemberus-gaap:SecuredOvernightFinancingRateSofrOvernightIndexSwapRateMember2023-12-310000888491ohi:SeniorTermLoanDue2025Memberus-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMember2023-09-290000888491us-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMember2023-12-310000888491ohi:SeniorTermLoanDue2025Memberus-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMember2023-08-310000888491ohi:OmegaOpTermLoanMemberus-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMember2023-06-300000888491srt:MinimumMemberus-gaap:ForeignExchangeForwardMemberus-gaap:ForwardContractsMember2023-12-272023-12-270000888491srt:MaximumMemberus-gaap:ForeignExchangeForwardMemberus-gaap:ForwardContractsMember2023-12-272023-12-270000888491us-gaap:ForeignExchangeForwardMemberus-gaap:NetInvestmentHedgingMember2022-05-172022-05-170000888491ohi:CindatIcePortfolioJvGpLimitedMember2023-01-012023-12-310000888491us-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberus-gaap:ForwardContractsMember2020-10-012021-03-310000888491us-gaap:ForeignExchangeForwardMemberus-gaap:NetInvestmentHedgingMember2023-12-310000888491us-gaap:ForeignExchangeForwardMemberus-gaap:ForwardContractsMember2023-12-270000888491us-gaap:ForeignExchangeForwardMemberus-gaap:NetInvestmentHedgingMember2022-05-170000888491us-gaap:ForeignExchangeForwardMemberus-gaap:NetInvestmentHedgingMember2021-03-310000888491us-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberus-gaap:ForwardContractsMember2020-03-2700008884912022-03-310000888491ohi:FacilitiesAcquiredMemberohi:GreatBritainThreeMemberohi:AssistedLivingFacilitiesMember2022-03-310000888491ohi:FacilitiesAcquiredMemberohi:GreatBritainOneMemberohi:AssistedLivingFacilitiesMember2022-03-310000888491ohi:GulfCoastLlcMemberohi:NotesReceivableOtherNotes25MillionSeniorSecuredFacilityMember2021-12-310000888491ohi:GulfCoastLlcMemberohi:ScenarioTotalCommittedMember2021-10-140000888491us-gaap:UnsecuredDebtMember2023-12-310000888491us-gaap:UnsecuredDebtMember2022-12-310000888491srt:MinimumMemberohi:ThreeHudMortgagesRetiredMemberus-gaap:SecuredDebtMember2023-10-012023-12-310000888491srt:MaximumMemberohi:ThreeHudMortgagesRetiredMemberus-gaap:SecuredDebtMember2023-10-012023-12-310000888491srt:MinimumMemberohi:HudMortgageAssumedMaturity2046To2052Memberus-gaap:SecuredDebtMember2023-07-012023-12-310000888491srt:MaximumMemberohi:HudMortgageAssumedMaturity2046To2052Memberus-gaap:SecuredDebtMember2023-07-012023-12-310000888491us-gaap:RevolvingCreditFacilityMemberohi:RevolvingCreditFacilityDue2025Memberus-gaap:UnsecuredDebtMember2023-01-012023-12-310000888491srt:MinimumMemberohi:HudMortgageAssumedMemberus-gaap:SecuredDebtMember2023-01-012023-12-310000888491srt:MaximumMemberohi:HudMortgageAssumedMemberus-gaap:SecuredDebtMember2023-01-012023-12-310000888491ohi:TermLoanMaturity2024Memberus-gaap:SecuredDebtMember2023-01-012023-12-310000888491ohi:TermLoanMaturity2023Memberus-gaap:SecuredDebtMember2023-01-012023-12-310000888491ohi:SeniorTermLoanDue2025Memberus-gaap:UnsecuredDebtMember2023-01-012023-12-310000888491ohi:SeniorNotesDue2033Memberus-gaap:SeniorNotesMember2023-01-012023-12-310000888491ohi:SeniorNotesDue2031Memberus-gaap:SeniorNotesMember2023-01-012023-12-310000888491ohi:SeniorNotesDue2029Memberus-gaap:SeniorNotesMember2023-01-012023-12-310000888491ohi:SeniorNotesDue2028Memberus-gaap:SeniorNotesMember2023-01-012023-12-310000888491ohi:SeniorNotesDue2027Memberus-gaap:SeniorNotesMember2023-01-012023-12-310000888491ohi:SeniorNotesDue2026Memberus-gaap:SeniorNotesMember2023-01-012023-12-310000888491ohi:SeniorNotesDue2025Memberus-gaap:SeniorNotesMember2023-01-012023-12-310000888491ohi:SeniorNotesDue2024Memberus-gaap:SeniorNotesMember2023-01-012023-12-310000888491ohi:SeniorNotesDue2023Memberus-gaap:SeniorNotesMember2023-01-012023-12-310000888491ohi:HudMortgageAssumedMaturity2051Memberus-gaap:SecuredDebtMember2022-08-312022-08-310000888491ohi:SeniorNotesDue2033Memberus-gaap:SeniorNotesMember2021-03-012021-03-310000888491ohi:HudMortgageAssumedMaturity2052Memberus-gaap:SecuredDebtMember2020-08-262020-08-260000888491ohi:HudMortgageAssumedMaturity2051Memberus-gaap:SecuredDebtMember2020-08-262020-08-260000888491srt:MinimumMemberohi:HudMortgageAssumedMemberus-gaap:SecuredDebtMember2019-10-312019-10-310000888491srt:MaximumMemberohi:HudMortgageAssumedMemberus-gaap:SecuredDebtMember2019-10-312019-10-310000888491ohi:OmegaOpTermLoanMemberus-gaap:UnsecuredDebtMember2023-01-012023-12-310000888491ohi:GulfCoastLlcMemberus-gaap:SubordinatedDebtMemberus-gaap:UnsecuredDebtMember2021-04-012021-09-300000888491ohi:FiveSubordinatedDebtNotesMemberus-gaap:UnsecuredDebtMember2010-06-012010-06-300000888491us-gaap:RevolvingCreditFacilityMemberohi:RevolvingCreditFacilityDue2025Memberus-gaap:UnsecuredDebtMember2023-12-310000888491ohi:TermLoanMaturity2024Memberus-gaap:SecuredDebtMember2023-12-310000888491ohi:OmegaOpTermLoanMemberus-gaap:UnsecuredDebtMember2023-12-310000888491ohi:SeniorNotesDue2033Member2023-12-310000888491ohi:SeniorNotesDue2031Member2023-12-310000888491ohi:SeniorNotesDue2029Member2023-12-310000888491ohi:SeniorNotesDue2028Member2023-12-310000888491ohi:SeniorNotesDue2027Member2023-12-310000888491ohi:SeniorNotesDue2026Member2023-12-310000888491ohi:SeniorNotesDue2025Member2023-12-310000888491ohi:SeniorNotesDue2024Member2023-12-310000888491ohi:SeniorNotesDue2023Member2023-12-310000888491ohi:HudMortgageAssumedMaturity2051Memberus-gaap:SecuredDebtMember2022-08-310000888491srt:MinimumMemberohi:MortgageLoansGuaranteedByUnitedStatesDepartmentOfHousingAndUrbanDevelopmentMember2019-10-310000888491srt:MaximumMemberohi:MortgageLoansGuaranteedByUnitedStatesDepartmentOfHousingAndUrbanDevelopmentMember2019-10-310000888491us-gaap:RevolvingCreditFacilityMemberohi:UnitedStatesDollarTrancheMemberus-gaap:UnsecuredDebtMember2023-12-310000888491us-gaap:RevolvingCreditFacilityMemberohi:BritishPoundSterlingTrancheMemberus-gaap:UnsecuredDebtMember2023-12-310000888491ohi:SeniorTermLoanDue2025Memberus-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberus-gaap:UnsecuredDebtMember2023-08-310000888491ohi:OmegaOpTermLoanMemberus-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberus-gaap:UnsecuredDebtMember2023-06-300000888491ohi:SeniorTermLoanDue2025Memberus-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMember2023-09-300000888491ohi:SeniorTermLoanDue2025Member2023-09-300000888491ohi:SeniorTermLoanDue2025Memberus-gaap:UnsecuredDebtMember2023-09-270000888491ohi:SeniorTermLoanDue2025Member2023-08-310000888491ohi:OmegaOpTermLoanMemberus-gaap:UnsecuredDebtMember2023-06-300000888491ohi:SeniorNotesDue2033Memberus-gaap:SeniorNotesMember2021-03-310000888491ohi:SeniorNotesDue2031Memberus-gaap:SeniorNotesMember2020-10-310000888491us-gaap:RevolvingCreditFacilityMemberus-gaap:UnsecuredDebtMember2023-04-012023-06-300000888491ohi:OmegaOpTermLoanMemberus-gaap:UnsecuredDebtMember2023-04-012023-06-300000888491us-gaap:RevolvingCreditFacilityMemberus-gaap:UnsecuredDebtMember2023-01-012023-03-310000888491ohi:OmegaOpTermLoanMemberus-gaap:UnsecuredDebtMember2023-01-012023-03-3100008884912022-01-012023-12-310000888491ohi:SeniorNotesDue2033Memberus-gaap:SeniorNotesMember2023-12-310000888491ohi:SeniorNotesDue2031Memberus-gaap:SeniorNotesMember2023-12-310000888491ohi:SeniorNotesDue2029Memberus-gaap:SeniorNotesMember2023-12-310000888491ohi:SeniorNotesDue2028Memberus-gaap:SeniorNotesMember2023-12-310000888491ohi:SeniorNotesDue2027Memberus-gaap:SeniorNotesMember2023-12-310000888491ohi:SeniorNotesDue2026Memberus-gaap:SeniorNotesMember2023-12-310000888491ohi:SeniorNotesDue2025Memberus-gaap:SeniorNotesMember2023-12-310000888491ohi:SeniorNotesDue2024Memberus-gaap:SeniorNotesMember2023-12-310000888491ohi:SeniorNotesDue2023Memberus-gaap:SeniorNotesMember2023-08-010000888491ohi:SeniorNotesDue2033Memberus-gaap:SeniorNotesMember2022-12-310000888491ohi:SeniorNotesDue2031Memberus-gaap:SeniorNotesMember2022-12-310000888491ohi:SeniorNotesDue2029Memberus-gaap:SeniorNotesMember2022-12-310000888491ohi:SeniorNotesDue2028Memberus-gaap:SeniorNotesMember2022-12-310000888491ohi:SeniorNotesDue2027Memberus-gaap:SeniorNotesMember2022-12-310000888491ohi:SeniorNotesDue2026Memberus-gaap:SeniorNotesMember2022-12-310000888491ohi:SeniorNotesDue2025Memberus-gaap:SeniorNotesMember2022-12-310000888491ohi:SeniorNotesDue2024Memberus-gaap:SeniorNotesMember2022-12-310000888491ohi:SeniorNotesDue2023Memberus-gaap:SeniorNotesMember2022-12-310000888491ohi:FiveSubordinatedDebtNotesMemberus-gaap:UnsecuredDebtMember2010-06-300000888491srt:MinimumMemberohi:SeniorTermLoanDue2025Memberus-gaap:UnsecuredDebtMember2023-09-272023-09-270000888491srt:MaximumMemberohi:SeniorTermLoanDue2025Memberus-gaap:UnsecuredDebtMember2023-09-272023-09-270000888491ohi:SeniorTermLoanDue2025Memberus-gaap:UnsecuredDebtMember2023-09-272023-09-270000888491us-gaap:RevolvingCreditFacilityMemberus-gaap:UnsecuredDebtMemberohi:SterlingOvernightIndexAverageReferenceRateMember2021-04-302021-04-300000888491srt:MinimumMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:UnsecuredDebtMember2021-04-302021-04-300000888491srt:MinimumMemberohi:OmegaOpTermLoanMemberus-gaap:UnsecuredDebtMember2021-04-302021-04-300000888491srt:MaximumMemberus-gaap:RevolvingCreditFacilityMemberus-gaap:UnsecuredDebtMember2021-04-302021-04-300000888491srt:MaximumMemberohi:OmegaOpTermLoanMemberus-gaap:UnsecuredDebtMember2021-04-302021-04-300000888491ohi:LessorConstructionAndCapitalCommitmentsUnderLeaseAgreementsMember2023-12-310000888491ohi:ConstructionAndCapitalExpenditureMortgageLoanCommitmentsMember2023-12-310000888491ohi:MaplewoodRealEstateHoldingsMemberus-gaap:ScenarioPlanMemberohi:CapitalExpenditureCommittedMember2023-03-310000888491ohi:OperatorOneMemberohi:OtherNotes25MillionRevolvingCreditFacilityMemberus-gaap:SalesRevenueProductLineMemberus-gaap:CustomerConcentrationRiskMember2023-01-012023-12-310000888491ohi:MaplewoodRealEstateHoldingsMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberus-gaap:SalesRevenueNetMemberus-gaap:CustomerConcentrationRiskMember2023-01-012023-12-310000888491ohi:AgemoHoldingsLlcMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberus-gaap:SalesRevenueProductLineMemberus-gaap:CustomerConcentrationRiskMember2023-01-012023-12-310000888491us-gaap:AssetsTotalMemberus-gaap:ProductConcentrationRiskMemberohi:RealEstateInvestmentRelatedToLongTermHealthcareFacilitiesMember2023-01-012023-12-310000888491stpr:TXus-gaap:AssetsTotalMemberus-gaap:GeographicConcentrationRiskMember2023-01-012023-12-310000888491stpr:INus-gaap:AssetsTotalMemberus-gaap:GeographicConcentrationRiskMember2023-01-012023-12-310000888491stpr:CAus-gaap:AssetsTotalMemberus-gaap:GeographicConcentrationRiskMember2023-01-012023-12-310000888491ohi:OperatorOneMemberus-gaap:SalesRevenueProductLineMemberus-gaap:CustomerConcentrationRiskMember2023-01-012023-12-310000888491ohi:NineteenOperatorsPlacedOnCashBasisMemberus-gaap:SalesRevenueProductLineMemberus-gaap:CustomerConcentrationRiskMember2023-01-012023-12-310000888491ohi:MaplewoodRealEstateHoldingsMemberus-gaap:SalesRevenueProductLineMemberus-gaap:CustomerConcentrationRiskMember2023-01-012023-12-310000888491ohi:HealthcareHomesLimitedMemberus-gaap:SalesRevenueProductLineMemberus-gaap:CustomerConcentrationRiskMember2023-01-012023-12-310000888491ohi:GuardianMemberus-gaap:SalesRevenueProductLineMemberus-gaap:CustomerConcentrationRiskMember2023-01-012023-12-310000888491ohi:ConsulateHealthCareMemberus-gaap:SalesRevenueProductLineMemberus-gaap:CustomerConcentrationRiskMember2023-01-012023-12-310000888491ohi:CommunicareHealthServicesIncMemberus-gaap:SalesRevenueNetMemberus-gaap:CustomerConcentrationRiskMember2023-01-012023-12-310000888491ohi:CommunicareHealthServicesIncMemberus-gaap:AssetsTotalMemberus-gaap:ProductConcentrationRiskMember2023-01-012023-12-310000888491country:GBus-gaap:AssetsTotalMemberus-gaap:GeographicConcentrationRiskMember2023-01-012023-12-310000888491ohi:MaplewoodRealEstateHoldingsMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberus-gaap:SalesRevenueNetMemberus-gaap:CustomerConcentrationRiskMember2022-01-012022-12-310000888491ohi:AgemoHoldingsLlcMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberus-gaap:SalesRevenueProductLineMemberus-gaap:CustomerConcentrationRiskMember2022-01-012022-12-310000888491ohi:TwentyOperatorsPlacedOnCashBasisMemberus-gaap:SalesRevenueProductLineMemberus-gaap:CustomerConcentrationRiskMember2022-01-012022-12-310000888491ohi:OperatorTwoMemberus-gaap:SalesRevenueProductLineMemberus-gaap:CustomerConcentrationRiskMember2022-01-012022-12-310000888491ohi:OperatorThreeMemberus-gaap:SalesRevenueProductLineMemberus-gaap:CustomerConcentrationRiskMember2022-01-012022-12-310000888491ohi:OperatorOneMemberus-gaap:SalesRevenueProductLineMemberus-gaap:CustomerConcentrationRiskMember2022-01-012022-12-310000888491ohi:NineteenOperatorsPlacedOnCashBasisMemberus-gaap:SalesRevenueProductLineMemberus-gaap:CustomerConcentrationRiskMember2022-01-012022-12-310000888491ohi:MaplewoodRealEstateHoldingsMemberus-gaap:SalesRevenueProductLineMemberus-gaap:CustomerConcentrationRiskMember2022-01-012022-12-310000888491ohi:HealthcareHomesLimitedMemberus-gaap:SalesRevenueProductLineMemberus-gaap:CustomerConcentrationRiskMember2022-01-012022-12-310000888491ohi:GuardianMemberus-gaap:SalesRevenueProductLineMemberus-gaap:CustomerConcentrationRiskMember2022-01-012022-12-310000888491ohi:ConsulateHealthCareMemberus-gaap:SalesRevenueProductLineMemberus-gaap:CustomerConcentrationRiskMember2022-01-012022-12-310000888491ohi:CommunicareHealthServicesIncMemberus-gaap:SalesRevenueNetMemberus-gaap:CustomerConcentrationRiskMember2022-01-012022-12-310000888491ohi:MaplewoodRealEstateHoldingsMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberus-gaap:SalesRevenueNetMemberus-gaap:CustomerConcentrationRiskMember2021-01-012021-12-310000888491ohi:AgemoHoldingsLlcMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberus-gaap:SalesRevenueProductLineMemberus-gaap:CustomerConcentrationRiskMember2021-01-012021-12-310000888491ohi:TwentyOperatorsPlacedOnCashBasisMemberus-gaap:SalesRevenueProductLineMemberus-gaap:CustomerConcentrationRiskMember2021-01-012021-12-310000888491ohi:OperatorTwoMemberus-gaap:SalesRevenueProductLineMemberus-gaap:CustomerConcentrationRiskMember2021-01-012021-12-310000888491ohi:OperatorThreeMemberus-gaap:SalesRevenueProductLineMemberus-gaap:CustomerConcentrationRiskMember2021-01-012021-12-310000888491ohi:OperatorOneMemberus-gaap:SalesRevenueProductLineMemberus-gaap:CustomerConcentrationRiskMember2021-01-012021-12-310000888491ohi:NineteenOperatorsPlacedOnCashBasisMemberus-gaap:SalesRevenueProductLineMemberus-gaap:CustomerConcentrationRiskMember2021-01-012021-12-310000888491ohi:MaplewoodRealEstateHoldingsMemberus-gaap:SalesRevenueProductLineMemberus-gaap:CustomerConcentrationRiskMember2021-01-012021-12-310000888491ohi:HealthcareHomesLimitedMemberus-gaap:SalesRevenueProductLineMemberus-gaap:CustomerConcentrationRiskMember2021-01-012021-12-310000888491ohi:GulfCoastLlcMemberus-gaap:SalesRevenueProductLineMemberus-gaap:CustomerConcentrationRiskMember2021-01-012021-12-310000888491ohi:GuardianMemberus-gaap:SalesRevenueProductLineMemberus-gaap:CustomerConcentrationRiskMember2021-01-012021-12-310000888491ohi:ConsulateHealthCareMemberus-gaap:SalesRevenueProductLineMemberus-gaap:CustomerConcentrationRiskMember2021-01-012021-12-310000888491ohi:CommunicareHealthServicesIncMemberus-gaap:SalesRevenueNetMemberus-gaap:CustomerConcentrationRiskMember2021-01-012021-12-310000888491ohi:GulfCoastLlcMemberus-gaap:SalesRevenueProductLineMemberus-gaap:CustomerConcentrationRiskMember2020-01-012020-12-3100008884912023-07-012023-09-3000008884912023-04-012023-06-3000008884912023-01-012023-03-3100008884912022-10-012022-12-310000888491ohi:ReturnOfCapitalMember2023-01-012023-12-310000888491ohi:OrdinaryIncomeMember2023-01-012023-12-310000888491ohi:CapitalGainsMember2023-01-012023-12-310000888491ohi:ReturnOfCapitalMember2022-01-012022-12-310000888491ohi:OrdinaryIncomeMember2022-01-012022-12-310000888491ohi:CapitalGainsMember2022-01-012022-12-310000888491ohi:ReturnOfCapitalMember2021-01-012021-12-310000888491ohi:OrdinaryIncomeMember2021-01-012021-12-310000888491ohi:CapitalGainsMember2021-01-012021-12-310000888491ohi:StockIncentivePlan2018Member2023-12-310000888491ohi:StockIncentivePlan2018Member2023-06-050000888491ohi:StockIncentivePlan2018Member2023-06-040000888491us-gaap:AccountsPayableAndAccruedLiabilitiesMemberus-gaap:CashFlowHedgingMember2023-12-310000888491us-gaap:OtherAssetsMemberus-gaap:CashFlowHedgingMember2022-12-310000888491us-gaap:VariableInterestEntityPrimaryBeneficiaryMemberohi:FourOfSevenFacilitiesMemberohi:ExchangeAccommodationTitleholdersMember2022-12-310000888491us-gaap:VariableInterestEntityPrimaryBeneficiaryMember2023-12-310000888491us-gaap:AssetPledgedAsCollateralWithRightMemberus-gaap:NotesPayableOtherPayablesMember2023-12-310000888491us-gaap:AssetPledgedAsCollateralWithRightMemberus-gaap:NotesPayableOtherPayablesMember2022-12-310000888491ohi:ElevenFacilitiesMember2023-12-310000888491us-gaap:NotesReceivableMember2023-12-310000888491us-gaap:NotesReceivableMember2022-12-310000888491stpr:TXohi:GroupFiveMember2023-12-310000888491stpr:TNohi:GroupElevenMember2023-12-310000888491stpr:TNohi:GroupEightMember2023-12-310000888491stpr:PAohi:GroupSevenMember2023-12-310000888491stpr:ORohi:GroupNineMember2023-12-310000888491stpr:OHohi:GroupThirteenMember2023-12-310000888491stpr:OHohi:GroupFourMember2023-12-310000888491stpr:MIohi:GroupTwoMember2023-12-310000888491stpr:MIohi:GroupTwelveMember2023-12-310000888491stpr:MIohi:GroupThreeMember2023-12-310000888491stpr:MIohi:GroupSixteenMember2023-12-310000888491stpr:MIohi:GroupSeventeenMember2023-12-310000888491stpr:MIohi:GroupOneMember2023-12-310000888491stpr:MIohi:GroupFourteenMember2023-12-310000888491stpr:MIohi:GroupFifteenMember2023-12-310000888491stpr:MAohi:GroupTenMember2023-12-310000888491stpr:ILohi:GroupSixMember2023-12-310000888491ohi:GuardianMemberohi:AccruedInterestReservedThroughCreditLossMember2021-01-012021-12-310000888491us-gaap:ParentMember2023-01-012023-12-310000888491us-gaap:NoncontrollingInterestMember2023-01-012023-12-310000888491us-gaap:AdditionalPaidInCapitalMember2023-01-012023-12-310000888491us-gaap:ParentMember2022-01-012022-12-310000888491us-gaap:NoncontrollingInterestMember2022-01-012022-12-310000888491us-gaap:AdditionalPaidInCapitalMember2022-01-012022-12-310000888491us-gaap:ParentMember2021-01-012021-12-310000888491us-gaap:NoncontrollingInterestMember2021-01-012021-12-310000888491us-gaap:AdditionalPaidInCapitalMember2021-01-012021-12-3100008884912021-12-3100008884912020-12-310000888491ohi:SeniorTermLoanDue2025Memberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310000888491ohi:SeniorTermLoanDue2025Memberus-gaap:CarryingReportedAmountFairValueDisclosureMember2023-12-310000888491ohi:FourteenOfFortyEightFacilitiesMember2023-01-012023-03-310000888491ohi:ConsulateHealthCareMemberus-gaap:ScenarioPlanMember2022-10-012022-12-310000888491ohi:ConsulateHealthCareMemberohi:ThirdPartyOperatorMemberohi:ElevenFacilitiesMember2022-01-012022-12-310000888491ohi:FacilitiesTransitionedToOtherOperatorsMember2023-01-012023-12-3100008884912022-04-012022-06-300000888491ohi:FacilitiesTransitionedToOtherOperatorsMember2022-01-012022-12-310000888491ohi:GuardianMemberohi:OperatorPlacedOnCashBasisMember2021-10-012021-12-310000888491ohi:GulfCoastLlcMemberohi:OperatorPlacedOnCashBasisMember2021-04-012021-06-300000888491ohi:FacilitiesTransitionedToOtherOperatorsMember2021-01-012021-12-310000888491ohi:ConsulateHealthCareMember2022-10-012022-12-310000888491ohi:OperatorThreeMember2022-01-012022-12-310000888491ohi:MaplewoodRealEstateHoldingsMemberus-gaap:SubsequentEventMember2024-01-012024-01-310000888491ohi:FiveHundredMillionStockRepurchaseProgramMember2022-01-012022-12-310000888491us-gaap:RestrictedStockUnitsRSUMember2023-01-012023-12-310000888491ohi:ProfitInterestUnitsMember2023-01-012023-12-310000888491ohi:PerformanceBasedRestrictedStockUnitsAndProfitInterestUnitsMember2023-01-012023-12-310000888491us-gaap:StockAppreciationRightsSARSMember2022-01-012022-12-310000888491ohi:PerformanceBasedRestrictedStockUnitsAndProfitInterestUnitsMember2022-01-012022-12-310000888491us-gaap:StockAppreciationRightsSARSMember2021-01-012021-12-310000888491ohi:PerformanceBasedRestrictedStockUnitsAndProfitInterestUnitsMember2021-01-012021-12-310000888491ohi:SeniorNotesAndOtherUnsecuredBorrowingsNetMemberus-gaap:UnsecuredDebtMember2023-12-310000888491ohi:SeniorNotesAndOtherUnsecuredBorrowingsNetMemberus-gaap:UnsecuredDebtMember2022-12-310000888491ohi:GulfCoastLlcMemberohi:OperatorPlacedOnCashBasisMember2021-09-300000888491ohi:GulfCoastLlcMemberohi:OperatorPlacedOnCashBasisMember2021-06-300000888491ohi:GuardianMember2023-10-012023-12-310000888491ohi:GuardianMember2023-07-012023-09-300000888491ohi:OperatorTwoMember2022-04-012022-04-300000888491stpr:WV2023-01-012023-12-310000888491stpr:WI2023-01-012023-12-310000888491stpr:WA2023-01-012023-12-310000888491stpr:VT2023-01-012023-12-310000888491stpr:VA2023-01-012023-12-310000888491stpr:TX2023-01-012023-12-310000888491stpr:TN2023-01-012023-12-310000888491stpr:SC2023-01-012023-12-310000888491stpr:RI2023-01-012023-12-310000888491stpr:PA2023-01-012023-12-310000888491stpr:OR2023-01-012023-12-310000888491stpr:OK2023-01-012023-12-310000888491stpr:OH2023-01-012023-12-310000888491stpr:NY2023-01-012023-12-310000888491stpr:NV2023-01-012023-12-310000888491stpr:NM2023-01-012023-12-310000888491stpr:NJ2023-01-012023-12-310000888491stpr:NH2023-01-012023-12-310000888491stpr:NE2023-01-012023-12-310000888491stpr:NC2023-01-012023-12-310000888491stpr:MT2023-01-012023-12-310000888491stpr:MS2023-01-012023-12-310000888491stpr:MO2023-01-012023-12-310000888491stpr:MN2023-01-012023-12-310000888491stpr:MI2023-01-012023-12-310000888491stpr:MD2023-01-012023-12-310000888491stpr:MA2023-01-012023-12-310000888491stpr:LA2023-01-012023-12-310000888491stpr:KY2023-01-012023-12-310000888491stpr:KS2023-01-012023-12-310000888491stpr:IN2023-01-012023-12-310000888491stpr:IL2023-01-012023-12-310000888491stpr:ID2023-01-012023-12-310000888491stpr:IA2023-01-012023-12-310000888491stpr:GA2023-01-012023-12-310000888491stpr:FL2023-01-012023-12-310000888491stpr:CT2023-01-012023-12-310000888491stpr:CO2023-01-012023-12-310000888491stpr:CA2023-01-012023-12-310000888491stpr:AZ2023-01-012023-12-310000888491stpr:AR2023-01-012023-12-310000888491stpr:AL2023-01-012023-12-310000888491ohi:WashingtonDcMember2023-01-012023-12-310000888491ohi:AgemoHoldingsLlcMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberohi:OperatorPlacedOnCashBasisMember2023-01-012023-01-310000888491ohi:ConsulateHealthCareMember2022-12-302022-12-310000888491ohi:ThirteenFacilitiesMemberus-gaap:ScenarioAdjustmentMemberohi:AccumulatedDepreciationMember2022-12-310000888491ohi:ThirteenFacilitiesMemberus-gaap:LandMember2022-12-310000888491ohi:ThirteenFacilitiesMemberus-gaap:BuildingMember2022-12-310000888491ohi:ThirteenFacilitiesMemberohi:FurnitureAndEquipmentMember2022-12-310000888491ohi:ThirteenFacilitiesMemberohi:AccumulatedDepreciationMember2022-12-310000888491srt:RestatementAdjustmentMember2022-12-310000888491stpr:WA2023-12-310000888491stpr:VA2023-12-310000888491stpr:TX2023-12-310000888491stpr:PA2023-12-310000888491stpr:OH2023-12-310000888491stpr:NY2023-12-310000888491stpr:NC2023-12-310000888491stpr:MO2023-12-310000888491stpr:MA2023-12-310000888491stpr:LA2023-12-310000888491stpr:IN2023-12-310000888491stpr:ID2023-12-310000888491stpr:FL2023-12-310000888491stpr:CA2023-12-310000888491stpr:AR2023-12-310000888491country:GB2023-12-310000888491ohi:OtherRealEstateLoans68.0MillionPrincipalMember2023-04-142023-04-140000888491ohi:OtherRealEstateLoans35.6MillionPrincipalMember2022-06-282022-06-280000888491ohi:ConsulateHealthCareMemberohi:NotesReceivableDue25MillionTermLoanMember2022-03-252022-03-250000888491ohi:MaplewoodRealEstateHoldingsMember2022-01-012022-12-310000888491ohi:NotesReceivableDue2024Member2023-07-012023-12-310000888491ohi:MortgageLoansGuaranteedByUnitedStatesDepartmentOfHousingAndUrbanDevelopmentMember2019-10-310000888491ohi:GulfCoastLlcMemberohi:TwentyTwoFacilitiesMember2022-01-012022-03-310000888491ohi:HealthcareHomesLimitedMember2023-04-300000888491ohi:GuardianMemberohi:FinancingRestructuringAgreementAndAmendmentsMember2022-04-300000888491ohi:AgemoHoldingsLlcMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberohi:OperatorPlacedOnCashBasisMember2018-05-070000888491srt:MinimumMember2023-01-012023-12-310000888491srt:MaximumMember2023-01-012023-12-310000888491ohi:SafelyYouIncorporatedMember2023-12-310000888491ohi:CienaHealthcareMemberohi:MortgageNoteDue2030Memberohi:ThirdAmendedMasterMortgageMemberstpr:MIohi:NineFacilitiesMember2020-05-012020-05-310000888491ohi:CienaHealthcareMemberohi:MortgageNoteDue2030Memberohi:SecondAmendedMasterMortgageMember2018-06-012018-06-300000888491ohi:CienaHealthcareMembersrt:MinimumMemberohi:MortgageNoteDue2030Memberohi:AmendedMasterMortgageMember2023-12-310000888491ohi:CienaHealthcareMembersrt:MaximumMemberohi:MortgageNoteDue2030Memberohi:AmendedMasterMortgageMember2023-12-310000888491stpr:MD2023-10-012023-12-310000888491stpr:LA2023-10-012023-12-310000888491country:GB2023-10-012023-12-310000888491stpr:VA2023-07-012023-09-300000888491country:GB2023-07-012023-09-300000888491stpr:WV2023-04-012023-06-300000888491ohi:WestVirginiaTwoMember2023-04-012023-06-300000888491ohi:PennsylvaniaAndNorthCarolinaMember2022-10-012022-12-310000888491ohi:UnitedKingdomFourMember2022-07-012022-09-300000888491stpr:MD2022-01-012022-03-310000888491ohi:GreatBritainTwoMember2022-01-012022-03-310000888491ohi:GreatBritainThreeMember2022-01-012022-03-310000888491ohi:GreatBritainOneMember2022-01-012022-03-310000888491country:GB2021-07-012021-09-300000888491stpr:FL2021-01-012021-03-310000888491ohi:ArizonaCaliforniaFloridaIllinoisNewJerseyOregonPennsylvaniaTennesseeTexasVirginiaAndWashingtonMember2021-01-012021-03-3100008884912022-04-300000888491ohi:MaplewoodRealEstateHoldingsMemberstpr:DCohi:ScenarioFollowingConstructionPhaseMember2021-09-300000888491ohi:FacilitiesLeasedMemberstpr:NJ2021-06-300000888491ohi:MaplewoodRealEstateHoldingsMemberstpr:DCohi:ScenarioFollowingConstructionPhaseMember2021-07-012021-09-300000888491ohi:FacilitiesLeasedMemberstpr:NJ2021-04-012021-06-300000888491ohi:GuardianMemberohi:MortgageNoteDue2031Member2022-02-152022-02-150000888491ohi:OmegaOpTermLoanMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310000888491ohi:OmegaOpTermLoanMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2023-12-310000888491ohi:OmegaOpTermLoanMemberus-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310000888491ohi:OmegaOpTermLoanMemberus-gaap:CarryingReportedAmountFairValueDisclosureMember2022-12-310000888491ohi:InvestmentTypeCharacteristicNonRealEstateRelatedLoansMemberohi:InternalCreditRatingSixMember2022-01-012022-12-310000888491ohi:FiveSubordinatedDebtNotesMember2010-06-300000888491ohi:GuardianMemberohi:FacilitiesSoldMember2023-01-012023-12-310000888491ohi:ConsulateHealthCareMember2022-12-302022-12-300000888491ohi:AgemoHoldingsLlcMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberohi:OperatorPlacedOnCashBasisMember2022-10-012022-12-310000888491ohi:AgemoHoldingsLlcMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberohi:OperatorPlacedOnCashBasisMember2022-07-012022-09-300000888491ohi:GuardianMemberohi:FacilitiesSoldMember2022-04-012022-06-300000888491ohi:GuardianMemberohi:ThreeFacilitiesPreviouslySubjectToMortgageFinancingFromEntityMemberohi:MortgageNoteDue2031Member2022-02-152022-02-150000888491ohi:GulfCoastLlcMemberohi:FacilitiesSoldMember2022-01-012022-03-310000888491ohi:GuardianMemberohi:ThreeFacilitiesPreviouslySubjectToMortgageFinancingFromEntityMember2022-01-012022-03-310000888491ohi:GuardianMemberohi:FacilitiesSoldMember2022-01-012022-03-310000888491us-gaap:LoansReceivableMember2023-01-012023-12-310000888491ohi:OtherRealEstateLoansOtherMember2023-01-012023-12-310000888491ohi:OtherRealEstateLoansDue20232030FiveLoansRepaidMember2023-01-012023-12-310000888491ohi:OtherMortgageNotesMember2023-01-012023-12-310000888491us-gaap:LoansReceivableMember2023-12-310000888491ohi:OtherRealEstateLoansOtherMember2023-12-310000888491ohi:CommunicareHealthServicesIncMember2023-12-310000888491ohi:MaplewoodRealEstateHoldingsMember2023-12-310000888491ohi:NewOperatorMember2023-01-012023-12-310000888491ohi:ExistingOperatorMember2023-01-012023-12-310000888491ohi:FacilitiesTransitionedToOtherOperatorsMemberohi:FortyEightFacilitiesMember2023-01-012023-12-310000888491ohi:FacilitiesTransitionedToOperatorsMemberohi:FortyEightFacilitiesMember2023-01-012023-12-310000888491ohi:FacilitiesTransitionedFromOperatorsMemberohi:FortyEightFacilitiesMember2023-01-012023-12-310000888491ohi:FacilitiesTransitionedToOperatorsMemberohi:FortyEightFacilitiesMember2023-12-310000888491ohi:OtherMortgageNotesMember2023-12-310000888491ohi:OperatorPlacedOnCashBasisMember2023-12-310000888491ohi:OperatorPlacedOnCashBasisMember2022-12-310000888491ohi:GuardianMemberohi:FacilitiesTransitionedToOtherOperatorsMemberohi:EightFacilitiesMember2022-03-310000888491ohi:CindatIcePortfolioJvGpLimitedMemberohi:SixtyFiveFacilitiesMember2019-12-180000888491ohi:GulfCoastLlcMemberus-gaap:SubordinatedDebtMemberus-gaap:UnsecuredDebtMember2021-09-300000888491ohi:NotesReceivableOtherNoteMember2023-01-012023-12-310000888491ohi:NotesReceivableDue2024Through2029Member2023-01-012023-12-310000888491ohi:InvestmentTypeCharacteristicNonRealEstateRelatedLoansMember2023-01-012023-12-310000888491ohi:NotesReceivableDue2024Through2026Member2023-12-192023-12-190000888491us-gaap:MortgageReceivablesMember2023-12-310000888491us-gaap:NetInvestmentHedgingMember2021-03-012021-03-310000888491us-gaap:MortgageReceivablesMember2023-01-012023-12-310000888491ohi:ConsulateHealthCareMemberohi:NotesReceivableDue2036At2.00PercentMember2022-10-012022-12-310000888491ohi:NewManagerOfGulfCoastFacilitiesMemberohi:NotesReceivableOtherNotes20MillionWorkingCapitalMember2022-01-012022-12-310000888491ohi:MaplewoodRealEstateHoldingsMemberstpr:DCus-gaap:ScenarioPlanMember2021-09-300000888491ohi:TwentyFourFacilitiesMember2021-01-200000888491ohi:HudMortgageAssumedMaturity2046To2052Memberus-gaap:SecuredDebtMember2023-07-012023-12-310000888491ohi:ConsulateHealthCareMemberohi:SevenHudMortgagesMember2023-07-012023-09-300000888491ohi:TwoHudMortgagesAssumedMemberus-gaap:SecuredDebtMember2020-08-262020-08-260000888491ohi:ConsulateHealthCareMemberohi:TwentyTwoHudMortgagesMember2023-10-012023-12-310000888491country:GB2023-01-012023-12-310000888491country:GB2023-01-012023-03-310000888491ohi:GuardianMemberohi:NineFacilitiesMemberus-gaap:ScenarioPlanMemberohi:MortgageNoteDue2031Member2018-03-012018-03-310000888491ohi:CienaHealthcareMemberohi:MortgageNoteDue2030SevenAdditionalMortgagesMember2022-01-012022-12-310000888491ohi:CienaHealthcareMemberohi:MortgageNoteDue2030Memberus-gaap:ConstructionLoansMember2021-04-012021-06-300000888491ohi:GuardianMemberohi:OperatorPlacedOnCashBasisMember2021-12-302021-12-300000888491ohi:TwoFacilitiesAcquiredFromMortgageMember2021-12-302021-12-300000888491stpr:TXohi:GroupFiveMember2023-01-012023-12-310000888491stpr:TNohi:GroupElevenMember2023-01-012023-12-310000888491stpr:TNohi:GroupEightMember2023-01-012023-12-310000888491stpr:PAohi:GroupSevenMember2023-01-012023-12-310000888491stpr:ORohi:GroupNineMember2023-01-012023-12-310000888491stpr:OHohi:GroupThirteenMember2023-01-012023-12-310000888491stpr:OHohi:GroupFourMember2023-01-012023-12-310000888491stpr:MIohi:GroupTwoMember2023-01-012023-12-310000888491stpr:MIohi:GroupTwelveMember2023-01-012023-12-310000888491stpr:MIohi:GroupThreeMember2023-01-012023-12-310000888491stpr:MIohi:GroupSixteenMember2023-01-012023-12-310000888491stpr:MIohi:GroupSeventeenMember2023-01-012023-12-310000888491stpr:MIohi:GroupOneMember2023-01-012023-12-310000888491stpr:MIohi:GroupFourteenMember2023-01-012023-12-310000888491stpr:MIohi:GroupFifteenMember2023-01-012023-12-310000888491stpr:MAohi:GroupTenMember2023-01-012023-12-310000888491stpr:ILohi:GroupSixMember2023-01-012023-12-310000888491ohi:HudMortgageAssumedMember2023-12-310000888491us-gaap:ScenarioPlanMemberohi:NotesReceivableDue2024Member2023-12-012023-12-310000888491us-gaap:ScenarioPlanMemberohi:NotesReceivableDue2024Member2023-08-012023-08-310000888491ohi:OtherInvestmentMezzanineLoanMember2023-04-012023-06-300000888491us-gaap:ScenarioPlanMemberohi:NotesReceivableDue2024Member2023-01-012023-01-310000888491ohi:NotesReceivableDue2024Member2022-11-012022-12-310000888491ohi:AgemoHoldingsLlcMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberohi:OperatorPlacedOnCashBasisMember2022-09-012022-09-300000888491ohi:ConsulateHealthCareMember2022-07-012022-12-290000888491ohi:NotesReceivableDue2024Member2022-07-012022-07-310000888491ohi:ConsulateHealthCareMemberohi:NotesReceivableDue8.3MillionTermLoanMember2021-09-012021-09-010000888491ohi:TwoFacilitiesMemberohi:MortgageNoteDue2026Member2023-10-012023-10-310000888491ohi:OtherRealEstateLoansDue2028Member2023-10-012023-10-310000888491ohi:MaplewoodRealEstateHoldingsMemberohi:OtherRealEstateLoansDue2035Member2023-01-012023-03-310000888491srt:SubsidiariesMembercountry:GB2023-12-310000888491srt:SubsidiariesMembercountry:GB2022-12-310000888491ohi:GenesisHealthcareMemberohi:OtherRealEstateLoansDue202448MillionTermLoanMember2023-12-310000888491ohi:GenesisHealthcareMemberohi:OtherRealEstateLoansDue202416MillionTermLoanMember2023-12-310000888491ohi:OperatorThreeMember2022-12-310000888491ohi:OperatorThreeMember2022-06-300000888491ohi:MaplewoodRealEstateHoldingsMember2023-01-012023-03-310000888491ohi:MaplewoodRealEstateHoldingsMember2022-10-012022-12-310000888491ohi:GuardianMember2022-10-012022-12-310000888491ohi:GuardianMember2022-04-012022-04-300000888491ohi:GuardianMember2022-01-012022-03-310000888491ohi:NotesReceivableDue2024Memberus-gaap:SubsequentEventMember2024-02-012024-02-290000888491ohi:CienaHealthcareMemberohi:MortgageNoteDue2030Memberohi:MasterMortgageMember2023-01-012023-12-310000888491ohi:CienaHealthcareMemberohi:MortgageNoteDue2030Memberohi:AmendedMasterMortgageMember2023-01-012023-12-310000888491srt:MinimumMemberohi:OtherRealEstateLoansOtherMember2023-01-012023-12-310000888491srt:MinimumMemberohi:OtherRealEstateLoansDue20232030Member2023-01-012023-12-310000888491srt:MinimumMemberohi:OtherMortgageNotesMember2023-01-012023-12-310000888491srt:MinimumMemberohi:NotesReceivableOtherNoteMember2023-01-012023-12-310000888491srt:MinimumMemberohi:NotesReceivableDue2024Through2029Member2023-01-012023-12-310000888491srt:MinimumMemberohi:NotesReceivableDue2024Through2026Member2023-01-012023-12-310000888491srt:MaximumMemberohi:OtherRealEstateLoansOtherMember2023-01-012023-12-310000888491srt:MaximumMemberohi:OtherRealEstateLoansDue20232030Member2023-01-012023-12-310000888491srt:MaximumMemberohi:OtherMortgageNotesMember2023-01-012023-12-310000888491srt:MaximumMemberohi:NotesReceivableOtherNoteMember2023-01-012023-12-310000888491srt:MaximumMemberohi:NotesReceivableDue2024Through2029Member2023-01-012023-12-310000888491srt:MaximumMemberohi:NotesReceivableDue2024Through2026Member2023-01-012023-12-310000888491ohi:MaplewoodRealEstateHoldingsMemberohi:OtherRealEstateLoansDue2035Member2023-01-012023-12-310000888491ohi:GenesisHealthcareMemberohi:OtherMortgageNotesDue2024Member2023-01-012023-12-310000888491ohi:CienaHealthcareMemberus-gaap:ConstructionLoansMember2023-01-012023-12-310000888491ohi:OtherRealEstateLoansDue2035Member2023-01-012023-12-310000888491ohi:OtherRealEstateLoansDue2024Member2023-01-012023-12-310000888491ohi:OtherNotes9.4MillionMember2023-01-012023-12-310000888491ohi:NotesReceivableDue2036At5.63PercentMember2023-01-012023-12-310000888491ohi:NotesReceivableDue2036At2.00PercentMember2023-01-012023-12-310000888491ohi:NotesReceivableDue2027Member2023-01-012023-12-310000888491ohi:NotesReceivableDue2024Member2023-01-012023-12-310000888491ohi:MortgageNoteDue2037Member2023-01-012023-12-310000888491ohi:MortgageNoteDue2031Member2023-01-012023-12-310000888491ohi:MortgageNoteDue2030Member2023-01-012023-12-310000888491ohi:MortgageNoteDue2028Member2023-01-012023-12-310000888491ohi:MortgageNoteDue2025Member2023-01-012023-12-310000888491ohi:NotesReceivableDue2027Member2022-09-012022-09-010000888491ohi:CienaHealthcareMemberohi:OneMortgageNoteDueThrough2021ExtendedTo2029Memberus-gaap:ConstructionLoansMember2021-04-012021-06-300000888491ohi:CienaHealthcareMemberohi:OneMortgageNoteDueThrough2021ExtendedTo2029Memberus-gaap:ConstructionLoansMember2021-01-012021-03-310000888491ohi:CienaHealthcareMemberohi:MortgageNoteDue2030Memberohi:MasterMortgageMember2020-05-012020-05-310000888491ohi:SafelyYouIncorporatedMember2021-09-300000888491ohi:GuardianMemberohi:OneFacilityMember2023-01-012023-12-310000888491ohi:ElevenFacilitiesMember2023-01-012023-12-310000888491ohi:MaplewoodRealEstateHoldingsMemberohi:OtherRealEstateLoansDue2035Member2025-01-012025-12-310000888491us-gaap:ScenarioPlanMemberohi:OtherRealEstateLoansDue2030Member2025-01-012025-12-310000888491ohi:MaplewoodRealEstateHoldingsMemberohi:OtherRealEstateLoansDue2030Member2025-01-012025-12-310000888491us-gaap:ScenarioPlanMemberohi:OtherRealEstateLoansDue2030Member2024-01-012024-12-310000888491ohi:MaplewoodRealEstateHoldingsMemberohi:OtherRealEstateLoansDue2035Member2024-01-012024-12-310000888491ohi:HealthcareHomesLimitedMember2023-12-310000888491ohi:FourOperatorsMember2021-12-310000888491ohi:ConsulateHealthCareMember2021-12-310000888491ohi:CertainOperatorsMember2021-12-310000888491srt:MinimumMemberus-gaap:IndemnificationGuaranteeMember2023-01-012023-12-310000888491srt:MaximumMemberus-gaap:IndemnificationGuaranteeMember2023-01-012023-12-310000888491ohi:EquityShelfProgram500MillionAnd1BillionMember2023-01-012023-12-310000888491ohi:EquityShelfProgram500MillionAnd1BillionMember2021-01-012021-12-310000888491ohi:InvestmentTypeCharacteristicRealEstateRelatedLoansMemberohi:InternalCreditRatingThreeMember2023-12-310000888491ohi:InvestmentTypeCharacteristicRealEstateRelatedLoansMemberohi:InternalCreditRatingSixMember2023-12-310000888491ohi:InvestmentTypeCharacteristicRealEstateRelatedLoansMemberohi:InternalCreditRatingOneMember2023-12-310000888491ohi:InvestmentTypeCharacteristicNonRealEstateRelatedLoansMemberohi:InternalCreditRatingFourMember2023-12-310000888491ohi:InvestmentTypeCharacteristicRealEstateRelatedLoansMemberohi:InternalCreditRatingFourMember2023-12-310000888491ohi:InvestmentTypeCharacteristicNonRealEstateRelatedLoansMemberohi:InternalCreditRatingThreeMember2023-12-310000888491ohi:InvestmentTypeCharacteristicNonRealEstateRelatedLoansMemberohi:InternalCreditRatingSixMember2023-12-310000888491ohi:InvestmentTypeCharacteristicNonRealEstateRelatedLoansMemberohi:InternalCreditRatingFiveMember2023-12-310000888491ohi:InvestmentTypeCharacteristicRealEstateRelatedLoansMember2023-12-310000888491ohi:InvestmentTypeCharacteristicNonRealEstateRelatedLoansMember2023-12-310000888491ohi:AgemoHoldingsLlcMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberohi:NotesReceivableDue2036At5.63PercentMember2023-12-310000888491ohi:MaplewoodRealEstateHoldingsMemberohi:OtherRealEstateLoansDue2035Member2023-12-310000888491ohi:ConsulateHealthCareMemberohi:NotesReceivableDue2036At2.00PercentMember2023-12-310000888491ohi:AgemoHoldingsLlcMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberohi:NotesReceivableDue2036At5.63PercentMember2023-01-012023-12-310000888491ohi:GuardianMemberohi:MortgageNoteDue2031Member2023-01-012023-12-310000888491ohi:GulfCoastLlcMemberohi:NotesReceivableOtherNotes25MillionSeniorSecuredFacilityMember2022-01-012022-12-310000888491ohi:GuardianMemberohi:MortgageNoteDue2031Member2022-01-012022-12-310000888491ohi:ConsulateHealthCareMemberohi:NotesReceivableDue8.3MillionTermLoanMember2022-01-012022-12-310000888491ohi:ConsulateHealthCareMemberohi:NotesReceivableDue25MillionTermLoanMember2022-01-012022-12-310000888491ohi:AgemoHoldingsLlcMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberohi:NotesReceivableDue2036At5.63PercentMember2021-01-012021-12-310000888491ohi:GulfCoastLlcMemberohi:NotesReceivableOtherNotes25MillionSeniorSecuredFacilityMember2021-01-012021-12-310000888491ohi:OtherNotesThreeLoansPastDueMember2023-12-310000888491ohi:OtherMortgageLoansTwoCurrentlyPastDueMember2023-12-310000888491ohi:AgemoHoldingsLlcMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberohi:NotesReceivableDue2025WorkingCapitalMember2022-12-310000888491ohi:AgemoHoldingsLlcMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberohi:NotesReceivableDue2024TermLoanMember2022-12-310000888491ohi:GuardianMemberohi:SevenOfNineFacilitiesMemberohi:MortgageNoteDue2031Member2021-12-310000888491ohi:NotesReceivableDue2024Memberus-gaap:SubsequentEventMember2024-02-290000888491ohi:NotesReceivableDue2024Member2023-10-150000888491ohi:MaplewoodRealEstateHoldingsMemberstpr:DCohi:ScenarioConstructionPhaseMember2021-09-300000888491ohi:GuardianMember2024-01-012024-01-310000888491ohi:FortyEightFacilitiesMemberus-gaap:ScenarioPlanMember2023-01-012023-12-310000888491ohi:SecondSpringHealthcareInvestmentsMemberohi:SkilledNursingFacilitiesMember2023-01-012023-12-310000888491ohi:RcaNhHoldingsReCoLlcInvestmentMemberohi:SkilledNursingFacilitiesMember2023-01-012023-12-310000888491ohi:OmgSeniorHousingLlcMemberohi:SpecialtyMember2023-01-012023-12-310000888491ohi:OmgFormSeniorHoldingsLlcInvestmentMemberohi:AssistedLivingFacilitiesMember2023-01-012023-12-310000888491ohi:LakewayRealtyLLCMemberohi:SpecialtyMember2023-01-012023-12-310000888491ohi:CindatIcePortfolioJvGpLimitedMemberohi:AssistedLivingFacilitiesMember2023-01-012023-12-310000888491ohi:WvPharmHoldingsLlcInvestmentMember2023-01-012023-12-310000888491ohi:OhChsSnpIncMember2023-01-012023-12-310000888491ohi:ChsOhiInsightHoldingsLlcInvestmentMember2023-01-012023-12-310000888491ohi:CindatIcePortfolioJvGpLimitedMember2019-12-182019-12-180000888491ohi:LakewayRealtyLLCMember2019-05-172019-05-170000888491ohi:EquityShelfProgram1BillionMember2021-04-012021-06-300000888491ohi:EquityShelfProgram500MillionMember2015-09-012015-09-030000888491ohi:InternalCreditRatingFiveMember2023-12-310000888491stpr:DC2023-01-012023-12-310000888491stpr:DC2022-01-012022-12-310000888491stpr:DC2021-01-012021-12-310000888491us-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberus-gaap:ForwardContractsMember2023-05-300000888491us-gaap:NetInvestmentHedgingMember2023-12-270000888491srt:MaximumMemberohi:SeniorTermLoanDue2025Memberus-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMember2023-09-302023-09-300000888491ohi:OmegaOpTermLoanMemberus-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberus-gaap:UnsecuredDebtMember2023-06-012023-06-300000888491us-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberus-gaap:ForwardContractsMember2020-03-272020-03-270000888491ohi:SeniorTermLoanDue2025Memberus-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMember2023-09-272023-09-270000888491ohi:SeniorTermLoanDue2025Memberus-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMember2023-08-012023-08-310000888491ohi:OmegaOpTermLoanMemberus-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMember2023-06-012023-06-300000888491us-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberus-gaap:ForwardContractsMember2023-01-012023-12-3100008884912022-12-310000888491ohi:OperatorOneMember2022-01-012022-12-310000888491ohi:MaplewoodRealEstateHoldingsMember2023-03-3100008884912021-01-012023-12-310000888491ohi:HealthcareHomesLimitedMember2023-04-012023-06-300000888491ohi:HealthcareHomesLimitedMember2023-01-012023-12-310000888491ohi:AgemoHoldingsLlcMember2023-01-012023-12-310000888491ohi:HealthcareHomesLimitedMember2023-01-012023-06-300000888491ohi:ConsulateHealthCareMembersrt:MaximumMember2023-01-012023-04-300000888491ohi:AgemoHoldingsLlcMemberus-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberohi:OperatorPlacedOnCashBasisMember2022-01-012022-12-310000888491ohi:GulfCoastLlcMember2023-01-012023-12-310000888491ohi:GulfCoastLlcMemberohi:NotesReceivableOtherNotes25MillionSeniorSecuredFacilityMember2021-10-310000888491ohi:GulfCoastLlcMemberohi:NotesReceivableOtherNotes25MillionSeniorSecuredFacilityMember2022-12-310000888491us-gaap:RevolvingCreditFacilityMemberus-gaap:UnsecuredDebtMember2021-04-300000888491ohi:OmegaOpTermLoanMemberus-gaap:UnsecuredDebtMember2021-04-300000888491ohi:SeniorTermLoanDue2025Memberus-gaap:UnsecuredDebtMember2023-08-080000888491ohi:SeniorTermLoanDue2025Memberus-gaap:UnsecuredDebtMember2023-08-082023-08-080000888491us-gaap:RevolvingCreditFacilityMemberus-gaap:UnsecuredDebtMember2021-04-302021-04-300000888491ohi:OmegaOpTermLoanMemberus-gaap:UnsecuredDebtMember2021-04-302021-04-300000888491ohi:SeniorTermLoanDue2025Memberus-gaap:UnsecuredDebtMember2023-12-310000888491ohi:ConsulateHealthCareMemberus-gaap:SubsequentEventMember2024-01-012024-01-310000888491ohi:MaplewoodRealEstateHoldingsMember2023-10-012023-12-310000888491ohi:ConsulateHealthCareMember2023-10-012023-12-310000888491ohi:MaplewoodRealEstateHoldingsMember2023-01-012023-12-310000888491ohi:ConsulateHealthCareMember2023-01-012023-12-310000888491srt:MaximumMemberohi:EquityShelfProgram1BillionMember2021-06-300000888491srt:MaximumMemberohi:EquityShelfProgram500MillionMember2015-09-030000888491ohi:GuardianMember2023-04-012023-06-300000888491ohi:GuardianMemberohi:FinancingRestructuringAgreementAndAmendmentsMember2022-07-012022-07-010000888491ohi:OperatorThreeMember2022-10-012022-12-310000888491ohi:ConsulateHealthCareMemberohi:ThirtyFacilitiesMember2023-10-012023-12-310000888491ohi:ConsulateHealthCareMemberohi:SevenFacilitiesMember2023-07-012023-09-300000888491us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberohi:PersonalGuaranteeCollateralMember2023-12-310000888491us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberohi:OtherCollateralMember2023-12-310000888491us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2023-12-310000888491us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberohi:PersonalGuaranteeCollateralMember2022-12-310000888491us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMemberohi:OtherCollateralMember2022-12-310000888491us-gaap:VariableInterestEntityNotPrimaryBeneficiaryMember2022-12-310000888491ohi:AgemoHoldingsLlcMember2023-01-012023-03-3100008884912023-12-310000888491ohi:GuardianMemberohi:SevenOfNineFacilitiesMember2021-12-310000888491ohi:GulfCoastLlcMemberus-gaap:SubordinatedDebtMemberus-gaap:UnsecuredDebtMember2021-12-3100008884912022-01-012022-12-3100008884912021-01-012021-12-310000888491us-gaap:EstimateOfFairValueFairValueDisclosureMember2023-12-310000888491us-gaap:CarryingReportedAmountFairValueDisclosureMember2023-12-310000888491us-gaap:EstimateOfFairValueFairValueDisclosureMember2022-12-310000888491us-gaap:CarryingReportedAmountFairValueDisclosureMember2022-12-310000888491ohi:GulfCoastLlcMember2022-06-272022-06-2700008884912023-10-012023-12-3100008884912023-06-3000008884912024-02-0600008884912023-01-012023-12-31ohi:propertyohi:entityohi:subsidiaryiso4217:USDxbrli:sharesohi:segmentohi:Officeohi:statexbrli:sharesiso4217:USDxbrli:pureohi:itemiso4217:GBPohi:leaseohi:loanohi:contractohi:facility

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-K

   ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2023

   TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

OMEGA HEALTHCARE INVESTORS, INC.

(Exact Name of Registrant as Specified in its Charter)

Maryland

1-11316

38-3041398

(Omega Healthcare Investors, Inc.)

(Omega Healthcare Investors, Inc.)

(Omega Healthcare Investors, Inc.)

(State or other jurisdiction of incorporation or organization)

(Commission file number)

(IRS Employer Identification No.)

303 International Circle, Suite 200, Hunt Valley, MD 21030

(Address of principal executive offices)

(410) 427-1700

(Telephone number, including area code)

Securities Registered Pursuant to Section 12(b) of the Act:

Registrant

    

Title of Each Class

Trading Symbol (s)

Name of Exchange on
Which Registered

 

Omega Healthcare Investors, Inc.

Common Stock, $.10 Par Value

OHI

New York Stock Exchange

Securities registered pursuant to Section 12(g) of the Act:

None.

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act.

Yes No

Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act.

Yes No

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding twelve months (or for such shorter period that the registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days.

Yes No

Indicate by check mark whether the registrant has submitted electronically, every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

Yes No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. (Check one:)

Large accelerated filer

Accelerated filer

Non-accelerated filer

Smaller reporting company

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act.

Yes No

Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C 7262(b)) by the registered public accounting firm that prepared or issued its audit report.

Yes No

If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements.  

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).

Yes No

The aggregate market value of the common stock Omega Healthcare Investors, Inc. held by non-affiliates was $7,396,024,716 as of June 30, 2023, the last business day of the registrants most recently completed second fiscal quarter. The aggregate market value was computed using the $28.19 closing price per share for such stock on the New York Stock Exchange on such date.

As of February 6, 2024, there were 245,302,608 shares of Omega Healthcare Investors, Inc. common stock outstanding.

DOCUMENTS INCORPORATED BY REFERENCE

Proxy Statement for the registrant’s 2024 Annual Meeting of Stockholders to be filed with the Securities and Exchange Commission no later than 120 days after December 31, 2023, is incorporated by reference in Part III herein.

TABLE OF CONTENTS

Page

Forward-Looking Statements

3

PART I

Item 1.

Business

4

Item 1A.

Risk Factors

16

Item 1B.

Unresolved Staff Comments

30

Item 1C.

Cybersecurity

30

Item 2.

Properties

32

Item 3.

Legal Proceedings

32

Item 4.

Mine Safety Disclosures

32

PART II

Item 5.

Market for the Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

33

Item 6.

[Reserved]

34

Item 7.

Management’s Discussion and Analysis of Financial Condition and Results of Operations

34

Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

48

Item 8.

Financial Statements and Supplementary Data

49

Item 9.

Changes in and Disagreements with Accountants on Accounting and Financial Disclosure

49

Item 9A.

Controls and Procedures

49

Item 9B.

Other Information

50

Item 9C.

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

50

PART III

Item 10.

Directors, Executive Officers of the Registrant and Corporate Governance

51

Item 11.

Executive Compensation

51

Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

51

Item 13.

Certain Relationships and Related Transactions, and Director Independence

51

Item 14.

Principal Accountant Fees and Services

51

PART IV

Item 15.

Exhibits and Financial Statement Schedules

52

Item 16.

Form 10-K Summary

52

2

Forward-Looking Statements

Unless otherwise indicated or except where the context otherwise requires, the terms “we,” “us” and “our” and other similar terms in this Annual Report on Form 10-K refer to Omega Healthcare Investors, Inc. and its consolidated subsidiaries.

The following discussion should be read in conjunction with the financial statements and notes thereto appearing elsewhere in this document. This document contains “forward-looking statements” within the meaning of the federal securities laws. These statements relate to our expectations, beliefs, intentions, plans, objectives, goals, strategies, future events, performance and underlying assumptions and other statements other than statements of historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology including, but not limited to, terms such as “may,” “will,” “anticipates,” “expects,” “believes,” “intends,” “should” or comparable terms or the negative thereof. These statements are based on information available on the date of this filing and only speak as to the date hereof and no obligation to update such forward-looking statements should be assumed.

Our actual results may differ materially from those reflected in the forward-looking statements contained herein as a result of a variety of factors, including, among other things:

(1) those items discussed under “Risk Factors” in Part I, Item 1A to this Annual Report on Form 10-K;
(2) uncertainties relating to the business operations of the operators of our assets, including those relating to reimbursement by third-party payors, regulatory matters and occupancy levels;
(3) the long-term impacts of the COVID-19 pandemic on our business and the business of our operators, including the levels of staffing shortages, increased costs and decreased occupancy experienced by operators of skilled nursing facilities (“SNFs”) and assisted living facilities (“ALFs”) arising from the pandemic, the ability of our operators to comply with infection control and vaccine protocols and to manage facility infection rates or future infectious diseases, and the sufficiency of government support and reimbursement rates to offset such costs and the conditions related thereto;
(4) additional regulatory and other changes in the healthcare sector, including proposed federal minimum staffing requirements for SNFs that may further exacerbate labor and occupancy challenges for our operators;
(5) the ability of our operators in bankruptcy to reject unexpired lease obligations, modify the terms of our mortgages and impede our ability to collect unpaid rent or interest during the pendency of a bankruptcy proceeding and retain security deposits for the debtor’s obligations, and other costs and uncertainties associated with operator bankruptcies;
(6) our ability to re-lease, otherwise transition, or sell underperforming assets or assets held for sale on a timely basis and on terms that allow us to realize the carrying value of these assets;
(7) the availability and cost of capital to us;
(8) changes in our credit ratings and the ratings of our debt securities;
(9) competition in the financing of healthcare facilities;
(10) competition in the long-term healthcare industry and shifts in the perception of various types of long-term care facilities, including SNFs and ALFs;
(11) changes in the financial position of our operators;
(12) the effect of economic and market conditions generally and, particularly, in the healthcare industry;
(13) changes in interest rates and the impact of inflation;
(14) the timing, amount and yield of any additional investments;
(15) changes in tax laws and regulations affecting real estate investment trusts (“REITs”);
(16) the potential impact of changes in the SNF and ALF markets or local real estate conditions on our ability to dispose of assets held for sale for the anticipated proceeds or on a timely basis, or to redeploy the proceeds therefrom on favorable terms;
(17) our ability to maintain our status as a REIT; and
(18) the effect of other factors affecting our business or the businesses of our operators that are beyond our or their control, including natural disasters, other health crises or pandemics and governmental action; particularly in the healthcare industry.

3

PART I

Item 1 – Business

Overview

Omega Healthcare Investors, Inc. (“Parent”) is a Maryland corporation that invests in healthcare-related real estate properties located in the United States (“U.S.”) and the United Kingdom (“U.K.”), which investments comprise our one reportable segment. Omega became a publicly traded company listed on the New York Stock Exchange in 1992. Our primary objective is to provide strong returns to our investors, while serving as the preferred capital partner to our healthcare operating companies and affiliates (collectively, our “operators”) so they can concentrate on providing a high level of care for their resident-patients.

Parent, together with its consolidated subsidiaries (collectively, “Omega” or “Company”) has elected to be taxed as a REIT for federal income tax purposes. Omega is structured as an umbrella partnership REIT (“UPREIT”) under which all of Omega's assets are owned directly or indirectly by, and all of Omega's operations are conducted directly or indirectly through, its operating partnership subsidiary, OHI Healthcare Properties Limited Partnership (collectively with subsidiaries, “Omega OP”). As of December 31, 2023, Parent owned approximately 97% of the issued and outstanding units of partnership interest in Omega OP (“Omega OP Units”), and other investors owned approximately 3% of the outstanding Omega OP Units.

Property Types

Our core business is to provide financing and capital to the long-term healthcare industry with a particular focus on skilled nursing facilities (“SNFs”), assisted living facilities (“ALFs”), and to a lesser extent, independent living facilities (“ILFs”), rehabilitation and acute care facilities (“specialty facilities”) and medical office buildings (“MOBs”). The following is a summary of our various property types. 

Skilled nursing facilities - SNFs provide services that include daily nursing, therapeutic rehabilitation, social services, activities, housekeeping, nutrition, medication management and administrative services for individuals requiring certain assistance for activities in daily living.
Assisted living facilities - ALFs provide services that include assistance for activities in daily living and permit residents to maintain some of their privacy and independence as they do not require constant supervision and assistance. Services usually include daily housekeeping, laundry, medical reminders and assistance with the activities of daily living, such as eating, dressing and bathing.
Independent living facilities - ILFs are age-restricted multi-family properties with central dining facilities that provide services that include security, housekeeping, activities, nutrition and limited laundry services.
Specialty facilities Specialty facilities consist of specialty hospitals, long-term acute care hospitals, inpatient rehabilitation facilities, behavioral health substance facilities, behavioral health psychiatric facility and traumatic brain injury facilities.
Medical office buildings – MOBs are facilities designed specifically for healthcare providers such as physicians, dentists and other clinicians.

Investment Strategy & Types

We maintain a portfolio of long-term healthcare facilities, mortgages and other real estate loans on healthcare facilities located in the U.S. and the U.K. Our investments are generally geographically diverse and operated by a diverse group of established, middle-market healthcare operators that we believe meet our standards for quality and experience of management and creditworthiness. Our criteria for evaluating potential investments includes but is not limited to:

·

the quality and experience of management and the creditworthiness of the operator of the facility;

·

the facility’s historical and forecasted cash flow and its ability to meet operational needs, capital expenditure requirements and lease or debt service obligations;

·

the construction quality, condition and design of the facility and its environmental impact;

·

the location of the facility;

·

the tax, growth, regulatory and reimbursement environment of the applicable jurisdiction;

4

·

the occupancy rate for the facility and demand for similar healthcare facilities in the same or nearby communities; and

·

the payor mix of private, Medicare and Medicaid patients at the facility.

As healthcare delivery continues to evolve, we continuously evaluate potential investments, as well as our assets, operators and markets to position our portfolio for long-term success. As part of our evaluation, we may sometimes consider selling or transitioning assets that do not meet our portfolio criteria.

We prefer to invest in fee simple ownership of properties. Due to regulatory, tax or other considerations, we may pursue alternative investment structures, such as mortgages, other real estate loans and investments in joint ventures. While the market for long-term care real estate acquisitions in the U.S. remained competitive in 2023, we continued to seek and identify selective investments that are accretive to our portfolio. In addition to our U.S.-based investments, we expect to continue to pursue investments in alternative jurisdictions such as the U.K. As part of our continuous evaluation of our portfolio and in connection with certain operator workout transactions, we expect to continue to opportunistically sell assets, or portfolios of assets, from time to time. In addition, as the long-term care industry evolves and adapts to new protocols, we have made and may continue to make select ancillary investments in companies that enhance the technology and infrastructure of long-term care providers and our operators.

We typically seek substantial liquidity deposits, covenants regarding minimum working capital and net worth, liens on accounts receivable and other operating assets, and various provisions for cross-default, cross-collateralization and corporate and/or personal guarantees for our investments when appropriate.  

The following summarizes our primary investment structures. The average annualized yields described below reflect obligations under existing contractual arrangements. However, due to the nature of the long-term care industry, we cannot assure that the operators of our facilities will meet their payment obligations in full or when due. Therefore, the annualized yields as of December 31, 2023, set forth below, are not necessarily indicative of future yields, which may be lower.

Real Estate Assets & Leases

Our real estate assets are primarily comprised of land, buildings and improvements and any furniture and equipment contained within our facilities. Substantially all of our leases are triple-net operating leases and require the operator to pay rent and all additional charges incurred in the operation of the leased facility. At December 31, 2023, we had one direct financing lease. Our triple-net operating leases typically range from 5 to 15 years, plus renewal options. Our leases generally provide for minimum annual rents that are subject to annual escalators. Leases with fixed annual rental escalators are generally recognized on a straight-line basis over the initial lease period, subject to a collectibility assessment. At December 31, 2023, our average annualized yield from operating leases was approximately 9.4%. At December 31, 2023, approximately 82% of our operating leases have initial lease terms expiring after 2028. The majority of our leased real estate properties are leased under provisions of master lease agreements that govern more than one facility, and to a lesser extent, we lease facilities under single facility leases. Under our master leases, our operators are required to make one monthly payment that represents rent on all the properties that are subject to the master lease. Certain of our leases also contain operator purchase options or landlord put options.

Some of our leases provide our operators with advances for the construction of facilities or capital expenditures for strategic facility enhancements. Typically, these advances require the operator to pay a fixed percentage of the advances funded as capital expenditure rent under the lease. Construction and upgrades made under these lease clauses are capitalized within our real estate assets. We direct a significant amount of our capital back into existing assets, which we believe sets the stage for our long-term strategic success.

Real Estate Loans

Real estate loans consist of mortgage loans and other real estate loans which are primarily collateralized by a first, second or third mortgage lien or a leasehold mortgage on, or an assignment of the partnership interest in, the related properties. Our real estate loans typically have a fixed interest rate for the loan term. We enter into real estate loans for existing facilities and for the construction of facilities. At December 31, 2023, our average annualized yield on these investments was approximately 10.2%. At December 31, 2023, approximately 69.6% of our real estate loans have initial terms that expire after 2028.

5

Investments in Unconsolidated Joint Ventures

From time to time, we also acquire equity interests in joint ventures or entities that support the long-term healthcare industry and our operators. These are investments in entities that we do not consolidate but for which we can exercise significant influence over operating and financial policies and are reported under the equity method of accounting. Our investments in unconsolidated entities generally represent interests ranging from 9% to 51%. Under the equity method of accounting, our share of the investee’s earnings or losses is included in our consolidated results of operations. The initial carrying value of investments in unconsolidated entities is based on the amount paid to purchase the entity interest inclusive of transaction costs. 

Non-Real Estate Loans

Our portfolio includes non-real estate loans to our operators, their principals and/or asset purchasers. We make non-real estate loans on a limited basis, in connection with managing our overall credit risk. These loans may be either unsecured or secured by the collateral of the borrower and are typically short-term in nature. Collateral under secured non-real estate loans typically consists of the working capital of operator entities, personal guarantees or assets of the individual obligor. At December 31, 2023, our average annualized yield on these investments was approximately 8.1%. At December 31, 2023, approximately 31.1% of our non-real estate loans have initial terms that expire after 2028.  

Portfolio and Investment Summary

As of December 31, 2023, our portfolio of real estate investments included 891 healthcare facilities that are operated by 74 third-party operators in 42 states and the U.K. and that consists of the following:

real estate assets, subject to operating leases, that include 591 SNFs, 188 ALFs, 19 ILFs, 19 specialty facilities and one MOB;
an investment in a direct financing lease on one SNF;
real estate loans, including first lien mortgages, on 45 SNFs, seven ALFs, two specialty facilities and one ILF; and
17 facilities held for sale.