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

This is a company that could use some cash flow on its bottomline. The most recent news release from the company, other than theacquisition announcement this week, was the company's less thanstellar results for the third quarter, which ended Sept. 30. Whenthe results were announced on Nov. 22 - revenue of $16.7 millionand 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 lowof 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 at81.25 cents a share, off 28.75 cents from Wednesday, when the stockrose 6.2 cents to close at $1. The company is currently trading onthe over-the-counter bulletin board market under the symbolRGNT.OB.

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