TOLEDO, OH—Health Care REIT said Thursdayafternoon that its acquisition pipeline for the second half of theyear would total $1.7 billion, mainly in the seniors health andhousing segments. To that end, the Toledo, OH-basedREIT on Friday priced a stock offering that couldraise more than $1 billion.
HCN has priced the offering of 15.5 million common shares at$63.75, and will give the underwriters an option to purchase up to2,325,000 additional shares. That would yield up to $1.1 billion,which the REIT plans to use to repay debt and acquireproperties.
An SEC filing on Thursday did not specify a delivery date forthe shares. Goldman Sachs, RBC Capital Markets, BofAMerrill Lynch, Citigroup, Deutsche Bank Securities, J.P.Morgan and Morgan Stanley are acting asjoint book-running managers for the offering. This past June, HCBNcompleted an offering of similar size, selling 16.1 million sharesat $62.35 per share.
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
