X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

NEWPORT BEACH, CA-Health Care Property Investors Inc. has closed a $112.75 million secured loan and a $12.25 million equity investment with subsidiaries of American Retirement Corp.

The company, a real estate investment trust specializing in health care properties, also announced $18 million of additional investments during the third quarter, bringing to $331 million the total of its year-to-date new investments.

The loan and equity investment were part of a previously announced transaction with American Retirement Corp. The $112.75 million loan will mature in five years and was made to a subsidiary of American Retirement that owns interests of nine of its large core retirement facilities, which have an occupancy level of 94%. Health Care Property Investors made the $12.25 million equity investment in return for a 9.8% ownership of certain subsidiaries of American Retirement.

The REIT’s new investments during the third quarter included a 61,100 sf medical office building in Denver that it bought for $10.4 million from the Boyer Co. The office building is adjacent to HealthOne and South Suburban Medical Centers.Other acquisitions included two 16-year-old nursing facilities totaling 187 beds that it acquired for $5.4 million, or $29,000 per bed, in Texas and Indiana.

Health Care Property Investors’ investment portfolio as of Sept. 30 consisted of 442 facilities in 42 states. These include 183 long-term care and 88 assisted living facilities, 85 medical office buildings, 35 physician group practice clinics, 21 acute-care hospitals, nine freestanding rehabilitation facilities, seven health-care laboratory and biotech research facilities, and 14 retirement living communities.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. Apartments 2020Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.