According to a recent 13G filing with the US Securities and Exchange Commission, Parag Vora‘s HG Vora Capital Management has initiated a stake in Quality Care Properties Inc. (NYSE:QCP). The fund has acquired 5.0 million shares, which account for 5.3% of the company’s outstanding stock.
Quality Care Properties is self-managed real estate investment trust, that went public last quarter; more precisely, on November 1, 2016. Since the company started trading, its shares have lost 17.53%. Quality Care Properties is actually a spin-off of HCP, Inc. (NYSE:HCP), a company that invests in real estate primarily focusing on the US healthcare industry.
Since the company started trading after the end of the third quarter 2016, none of the funds from the Insider Monkey’s database disclosed long positions in Quality Care Properties Inc. (NYSE:QCP) in the last round of 13F filings.
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Ownership Summary Table
| Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
|---|---|---|---|---|---|---|
| HG Vora Special Opportunities Master Fund, Ltd | 0 | 5,000,000 | 0 | 5,000,000 | 5,000,000 | 5.3% |
| HG Vora Capital Management | 0 | 5,000,000 | 0 | 5,000,000 | 5,000,000 | 5.3% |
| Parag Vora | 0 | 5,000,000 | 0 | 5,000,000 | 5,000,000 | 5.3% |
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Page 1 of 8 – SEC Filing
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. )*
Quality Care Properties, Inc.
_____________________________________________________
(Name of Issuer)
Common Stock, par value $0.01 per share
_____________________________________________________
(Title of Class of Securities)
747545101
_____________________________________________________
(CUSIP Number)
December 22, 2016
___________________________________________________
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
| ☐ | Rule 13d-1(b) |
| ☒ | Rule 13d-1(c) |
| ☐ | Rule 13d-1(d) |
Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties to whom copies are to be sent.
* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934 (the “Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
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Page 2 of 8 – SEC Filing
CUSIP NO.: 747545101
| (1) | NAME OF REPORTING PERSON: HG Vora Special Opportunities Master Fund, Ltd. |
| (2) | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP |
| (a) | ☐ |
| (b) | ☐ |
| (3) | SEC USE ONLY |
| (4) | CITIZENSHIP OR PLACE OF ORGANIZATION: Cayman Islands |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
| (5) | SOLE VOTING POWER: 0 |
| (6) | SHARED VOTING POWER: 5,000,000 |
| (7) | SOLE DISPOSITIVE POWER: 0 |
| (8) | SHARED DISPOSITIVE POWER: 5,000,000 |
| (9) | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: 5,000,000 |
| (10) | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES ☐ |
| (11) | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9): 5.3% |
| (12) | TYPE OF REPORTING PERSON: OO (Cayman Islands exempted company) |
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Page 3 of 8 – SEC Filing
CUSIP NO.: 747545101
| (1) | NAME OF REPORTING PERSON: HG Vora Capital Management, LLC |
| (2) | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP |
| (a) | ☐ |
| (b) | ☐ |
| (3) | SEC USE ONLY |
| (4) | CITIZENSHIP OR PLACE OF ORGANIZATION: Delaware |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
| (5) | SOLE VOTING POWER: 0 |
| (6) | SHARED VOTING POWER: 5,000,000 |
| (7) | SOLE DISPOSITIVE POWER: 0 |
| (8) | SHARED DISPOSITIVE POWER: 5,000,000 |
| (9) | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: 5,000,000 |
| (10) | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES ☐ |
| (11) | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9): 5.3% |
| (12) | TYPE OF REPORTING PERSON: OO (Delaware limited liability company) |
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Page 4 of 8 – SEC Filing
CUSIP NO.: 747545101
| (1) | NAME OF REPORTING PERSON: Parag Vora |
| (2) | CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP |
| (a) | ☐ |
| (b) | ☐ |
| (3) | SEC USE ONLY |
| (4) | CITIZENSHIP OR PLACE OF ORGANIZATION: USA |
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
| (5) | SOLE VOTING POWER: 0 |
| (6) | SHARED VOTING POWER: 5,000,000 |
| (7) | SOLE DISPOSITIVE POWER: 0 |
| (8) | SHARED DISPOSITIVE POWER: 5,000,000 |
| (9) | AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON: 5,000,000 |
| (10) | CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES ☐ |
| (11) | PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9): 5.3% |
| (12) | TYPE OF REPORTING PERSON: IN |
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Page 5 of 8 – SEC Filing
Item 1. (a) Name of Issuer
Quality Care Properties, Inc. (the “Issuer”)
(b) Address of principal executive offices
7315 Wisconsin Avenue, Suite 250 West
Bethesda, Maryland 20814
Item 2. (a) Name of Person Filing
This statement is filed by:
(i) HG Vora Special Opportunities Master Fund, Ltd., a Cayman Islands exempted company (the “Fund”);
(ii) HG Vora Capital Management, LLC, a Delaware limited liability company (the “Investment Manager”); and
(iii) Parag Vora, an individual (“Mr. Vora”).
The foregoing persons hereinafter sometimes are collectively referred to as the “Reporting Persons”. Any disclosures herein with respect to persons other than the Reporting Persons are made on information and belief after making inquiry to the appropriate party. The Reporting Persons’ agreement in writing to file this statement on behalf of each of them is attached as Exhibit 1 hereto.
(b) Address of principal executive offices
The business office address of the Fund is 89 Nexus Way, Camana Bay, Grand Cayman KY1-9007, Cayman Islands, and the business office address of the Investment Manager and Mr. Vora is 330 Madison Avenue, 23rd Floor, New York, NY 10017.
(c) Citizenship
The Fund is a Cayman Islands exempted company, the Investment Manager is a Delaware limited liability company, and Mr. Vora is a United States citizen.
(d) Title of Class of Securities
Common Stock, $0.01 par value per share (the “Common Stock”).
(e) CUSIP Number
747545101
Item 3. Not applicable.
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Page 6 of 8 – SEC Filing
Item 4. Ownership.
A. HG Vora Special Opportunities Master Fund, Ltd.
(a) Amount beneficially owned:
As of January 3, 2017, directly owned: 5,000,000 shares of Common Stock.
(b) Percent of class:
5.3%. The percentages used herein and in the balance of this Item 4 are rounded to the nearest tenth and based on 93,594,234 shares of the Issuer’s Common Stock outstanding as of November 15, 2016, according to the Issuer’s Form 10-Q filed on November 21, 2016.
(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote: 0
(ii) Shared power to vote or to direct the vote: 5,000,000
(iii) Sole power to dispose or to direct the disposition of: 0
(iv) Shared power to dispose or to direct the disposition of: 5,000,000
B. HG Vora Capital Management, LLC
(a) Amount beneficially owned:
As of January 3, 2017, may be deemed to have beneficially owned: 5,000,000 shares of Common Stock.
(b) Percent of class:
5.3%.
(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote: 0
(ii) Shared power to vote or to direct the vote: 5,000,000
(iii) Sole power to dispose or to direct the disposition of: 0
(iv) Shared power to dispose or to direct the disposition of: 5,000,000
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Page 7 of 8 – SEC Filing
C. Parag Vora
(a) Amount beneficially owned:
As of January 3, 2017, may be deemed to have beneficially owned: 5,000,000 shares of Common Stock.
(b) Percent of class:
5.3%.
(c) Number of shares as to which the person has:
(i) Sole power to vote or to direct the vote: 0
(ii) Shared power to vote or to direct the vote: 5,000,000
(iii) Sole power to dispose or to direct the disposition of: 0
(iv) Shared power to dispose or to direct the disposition of: 5,000,000
Item 5. Ownership of Five Percent or Less of a Class.
If this statement is being filed to report the fact that as of the date hereof, the Reporting Persons have ceased to be the beneficial owner of more than five percent of the class of securities, check the following . ☐
Item 6. Ownership of More than Five Percent on Behalf of Another Person.
Not applicable.
Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company.
Not applicable.
Item 8. Identification and Classification of Members of the Group.
Not applicable.
Item 9. Notice of Dissolution of Group.
Not applicable.
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Page 8 of 8 – SEC Filing
Item 10. Certification.
Each of the Reporting Persons hereby makes the following certification:
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
January 3, 2017
| HG VORA SPECIAL OPPORTUNITIES MASTER FUND, LTD. | |
| By: | /s/ Parag Vora |
| Name: | Parag Vora |
| Title: | Director |
| HG VORA CAPITAL MANAGEMENT, LLC | |
| By: | /s/ Parag Vora |
| Name: | Parag Vora |
| Title: | Managing Member |
| PARAG VORA | |
| /s/ Parag Vora | |
| Parag Vora | |
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