A subsidiary of Omega Healthcare Investors Inc., a REIT that invests predominantly in nursing homes, raised $500,000 over the last several weeks via four private equity offerings.
The Hunt Valley-based firm raised $125,000 each in four separate offerings that began Jan. 27, according to four filings with the Securities and Exchange Commission filed Monday. Each offering attracted 125 investors who purchased the entirety of the equity offered.
The four filings correspond to four holding companies Omega called LG-OHI REIT 1, 2, 3 and 4. Each subsidiary was organized in 2016.
The subsidiaries’ director and chief executive officer is Steven Insoft, who serves as Omega’s chief corporate development officer.
Roughly one year prior to the holding companies’s organization, Omega acquired Chicago-based Aviv REIT Inc in April 2015. Insoft was its chief operating officer before the acquisition, according to Omega’s company website.
No other Omega executives were reported as executives of the subsidiaries. But four of the five other executives are either a vice president, a principal or partners at Lindsay Goldberg investment firm of New York City.
The forms do not indicate that any of the subsidiaries’ executives will receive compensation from the new funds.
Iroquois Capital Advisors, based in Nashville, Tenn., organized the equity sales, earning $18,750 for the deals.
Samuel Kovitz signed the filings as vice president, treasurer and secretary of the subsidiaries. He was Aviv’s executive vice president, general counsel and secretary.
Omega, trading under the ticker symbol OHI, saw an increased stock price Monday of 0.09 percent to $32.30 from last week. The day the filings were signed, last Friday, Feb. 3, the price increased 0.62 percent to $32.27.
