Regent, a Portland-based owner, operator and developer of private-pay assisted living communities, purchased the California and Idaho properties from HCP for $25.4 million. The Eugene property was acquired from LTC for $8.5 million. Guaranty Federal Bank in Dallas, TX provided the bank financing. "Our plan is to continue, when appropriate, to acquire additional properties that are presently being leased from real estate investment trusts," says Mr. Bowen. "These acquisitions will add bottom-line cash flow and ensure long-term viability of Regent as a premier provider of assisted living in the western part of the United States."

This is a company that could use some cash flow on its bottom line. The most recent news release from the company, other than the acquisition announcement this week, was the company's less than stellar results for the third quarter, which ended Sept. 30. When the results were announced on Nov. 22 - revenue of $16.7 million and a net loss of $1.9 million from 3,002 beds in 30 communities – the company's share price was at $1.625, well above its 52-week low of 62.5 cents from late April and well below its 52-week high of $4.25 from early June. Today, shares of Regent were trading at 81.25 cents a share, off 28.75 cents from Wednesday, when the stock rose 6.2 cents to close at $1. The company is currently trading on the over-the-counter bulletin board market under the symbol RGNT.OB.

As of Sept. 30, the company had six new communities under construction that were to add 677 beds to the company's total by the end of this year. Company officials could not immediately be contacted for comment on the progress of the development, or on the company's effort to raise shareholder value.