Matthew Gourmand on REIT structure
From Omega Healthcare (OHI) - Hoya Hotseat · · Hoya Capital
“The REIT structure aligns with the interests of our operators who prefer not to be hamstrung with owning their own real estate, allowing them to realize capital through sale-leasebacks to grow their operations.”
On , Matthew Gourmand, President at OMEGA HEALTHCARE INVS INC, spoke about REIT structure during Omega Healthcare (OHI) - Hoya Hotseat on Hoya Capital.
About Matthew Gourmand
Matthew Gourmand, President of Omega Healthcare Investors, discussed the company's strategy and outlook in a March 2025 appearance on the Hoya Hotseat podcast. He described Omega as a $10 billion-plus equity value REIT that invests primarily in skilled nursing and assisted living facilities, and said the company's strategy involves allocating capital to operators and benefiting from the spread between going-in yields and its cost of capital. Gourmand stated that the REIT structure aligns with operator interests, as operators can use sale-leasebacks to grow without owning real estate. Gourmand addressed industry risks, calling the idea of a "stroke of the pen" risk to government funding "naive" and citing pandemic-era government support as evidence that the industry is considered "too big to fail." He identified labor shortages as the biggest industry challenge and said Omega is investing in technology platforms for detection risk and remote patient monitoring to help operators improve efficiency. Gourmand also emphasized the benefits of the company's diversification across over 80 operators in 42 states and the UK, stating that this allows the firm to transition facilities to new operators when needed and to consistently grow funds available for distribution per share.