Core Points - Aedifica is developing 4 care homes in Finland for a total investment of €21 million [1] Group 1 - The care homes will be located in Turku, Seinäjoki, and Kuopio [1] - Aedifica is a public regulated real estate company listed on Euronext Brussels and Euronext Amsterdam [1]

Core Insights - CareTrust REIT, Inc. announced the acquisition of two care homes in the United Kingdom for approximately $27 million [1] - The homes consist of 265 beds primarily serving higher acuity residents and are leased to an existing operator under long-term triple-net leases [1] - The investment was funded using cash on hand, with a stabilized contractual yield on the investment [1]

Financial Data and Key Metrics Changes - Adjusted funds from operations (AFFO) for Q1 2025 were $0.75 per share, and funds available for distribution (FAD) were $0.71 per share, reflecting revenue and EBITDA growth [6][11] - Revenue for Q1 2025 was $277 million, up from $243 million in Q1 2024, primarily due to new investments and operator restructurings [10] - Net income for Q1 2025 was $112 million, or $0.33 per share, compared to $69 million, or $0.27 per share, in Q1 2024 [10][11] - NAREIT FFO for Q1 was $184 million, or $0.62 per share, compared to $153 million, or $0.60 per share, in Q1 2024 [11] Business Line Data and Key Metrics Changes - The percentage of private pay and other revenue increased from 8% ten years ago to 39% today, with expectations for continued growth [9] - Maplewood's occupancy for its core portfolio reached 94% as of April 2025, with rent payments improving significantly [20] Market Data and Key Metrics Changes - The trailing twelve-month operator EBITDAR coverage for the core portfolio increased to 1.51x as of December 31, 2024, compared to 1.50x for the previous period [18] - Omega's investment activity in Q1 2025 included over $423 million in new real estate investments and $34 million in CapEx investments [22] Company Strategy and Development Direction - The company raised and narrowed its full-year adjusted FFO guidance to a range between $2.95 to $3.01 per share, assuming no change in revenue related to operators [14] - Omega is focusing on disciplined and sustainable investment decisions while serving a complex resident population across various asset types and markets [19] - The company continues to prioritize capital allocation towards accretive owned real estate deals that grow its balance sheet [26] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability of Genesis to continue paying rent, despite recent liquidity issues [7][35] - The company remains optimistic about the overall coverage and fundamentals improving, with no significant changes expected in the lending environment [29][63] - Management is closely monitoring potential Medicaid reforms and their implications for the business [29][81] Other Important Information - The company completed a $344 million investment for a portfolio of 45 care homes across the UK and Jersey, with an initial cash yield of 10% [24] - The federal judge ruled in favor of the industry regarding staffing mandates, which is expected to save the federal government $22 billion over ten years [28] Q&A Session Summary Question: Details on Genesis not paying rent and interest in March - Management indicated that Genesis has a weak balance sheet, and the shortfall was a one-time issue related to their ABL lender [34][36] Question: More details on the UK portfolio acquisition - The acquisition involved six operators and was completed quickly due to the company's strong platform in the UK [41][42] Question: Impact of immigration on labor availability and wage pressures - Management has not seen any significant impact from immigration on labor availability or wage pressures at this time [46] Question: Genesis operating fundamentals - Coverage metrics for Genesis have improved, with the portfolio consistently above 1.5 times [47] Question: Cap rates for yields on first quarter dispositions - Management indicated that the dispositions were both opportunistic and part of a cleanup of non-core assets [85]