[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]  David Auerbach ⭕️ [@DailyREITBeat](/creator/twitter/DailyREITBeat) on x 3872 followers Created: 2025-07-14 13:13:27 UTC Skilled nursing operator Genesis Healthcare (OTC:GENN), which operates roughly XXX nursing facilities across XX states and is a tenant of several REITs, Omega Healthcare (OHI), and LTC Properties (LTC) filed for Chapter XX bankruptcy protection after several years of financial struggles. At its peak in 2016, Genesis operated over XXX facilities, but it began divesting properties as it struggled with razor-thin margins amid pressures from labor shortages, expensive and disruptive lawsuits, and ever-evolving government reimbursement challenges. The bankruptcy was triggered by missed rent payments to SNF REIT Omega Healthcare earlier this year, which represents roughly X% of its rent roll. OHI gained X% after it announced this week that it is working with Genesis during this bankruptcy process via contributions of $X million of a total of $30M of debtor-in-possession financing to keep current facilities running. OHI, which had previously provided Gensis with a $121M term loan secured by its other assets, noted that Genesis paid rent in July and stated in a presentation that it believes the current cash flow generated by its Genesis portfolio is "sustainable and will support our contractual rent... and there is sufficient collateral behind our $XXX million in term loans." LTC Properties, meanwhile, finished flat this week after it noted in a release that Genesis, which represents X% of its annual rents, paid their July rent. LTC holds $XXX million of security from Genesis as required by the master lease in a letter of credit.  XX engagements  **Related Topics** [chapter 11](/topic/chapter-11) [ltc](/topic/ltc) [omega](/topic/omega) [facilities](/topic/facilities) [coins healthcare](/topic/coins-healthcare) [Post Link](https://x.com/DailyREITBeat/status/1944747070809657650)
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David Auerbach ⭕️ @DailyREITBeat on x 3872 followers
Created: 2025-07-14 13:13:27 UTC
Skilled nursing operator Genesis Healthcare (OTC:GENN), which operates roughly XXX nursing facilities across XX states and is a tenant of several REITs, Omega Healthcare (OHI), and LTC Properties (LTC) filed for Chapter XX bankruptcy protection after several years of financial struggles. At its peak in 2016, Genesis operated over XXX facilities, but it began divesting properties as it struggled with razor-thin margins amid pressures from labor shortages, expensive and disruptive lawsuits, and ever-evolving government reimbursement challenges. The bankruptcy was triggered by missed rent payments to SNF REIT Omega Healthcare earlier this year, which represents roughly X% of its rent roll. OHI gained X% after it announced this week that it is working with Genesis during this bankruptcy process via contributions of $X million of a total of $30M of debtor-in-possession financing to keep current facilities running. OHI, which had previously provided Gensis with a $121M term loan secured by its other assets, noted that Genesis paid rent in July and stated in a presentation that it believes the current cash flow generated by its Genesis portfolio is "sustainable and will support our contractual rent... and there is sufficient collateral behind our $XXX million in term loans." LTC Properties, meanwhile, finished flat this week after it noted in a release that Genesis, which represents X% of its annual rents, paid their July rent. LTC holds $XXX million of security from Genesis as required by the master lease in a letter of credit.
XX engagements
Related Topics chapter 11 ltc omega facilities coins healthcare