X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LONG BEACH, CA-Locally based healthcare REIT HCP has agreed to acquire substantially all of the assets of Toledo, OH-based post-acute services provider HCR ManorCare Inc. for $6.1 billion and has launched a 40-million-share stock issue that is expected to raise $1.28 billion to pay for part of the deal, which is expected to close in the first quarter next year. The deal to buy the 338 facilities from HCR ManorCare comes on the heels of HCP’s $860 million definitive agreement to acquire partner CNL Retirement Properies Inc.’s 65% interest in a joint venture that owns 25 senior housing assets.

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. Healthcare Real Estate 2020Event

Join the industry's top owners, investors, developers, brokers and financiers for the real estate healthcare 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.