Health Care REIT Announces $508M of First Quarter 2012 Acquisitions
Health Care REIT, Inc. (NYSE: HCN) today announced it has completed $508 million of acquisitions in 2012. These acquisitions are in addition to the company's previously announced transaction with Chartwell Seniors Housing REIT that is expected to close in the second quarter of 2012. In total, the transaction with Chartwell is $925.2 million including Health Care REIT's investment of $503.3 million. Currency references are in US dollars and are based upon an exchange rate of CAD to USD of 1:1 for the Chartwell transaction.
During the first quarter, the company expanded its relationship with Belmont Village by acquiring six additional high quality seniors housing communities for $210 million. These communities will be added to the existing operating partnership and will continue to be managed by Belmont. In February, the company placed $111 million of debt on the two previously announced Belmont communities.
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