Property Types Seniors Housing
HCP to Sell 4.5M Shares for $150M, Issue 12.5M Shares to Public
March 26, 2008
By: Barbra Murray, Contributing Editor

Healthcare REIT HCP Inc. has announced that it will sell 4.5 million shares of common stock to Goldman Sachs & Co. for $149.9 million in an offering it just priced at $33.32 per share and, in a separate move, will offer 12.5 million shares of common stock to the public.

HCP plans to use the proceeds from the sale of stock to Goldman Sachs and the issuance of additional stock to repay part of a $1 billion debt under the company's revolving credit facility which, when entered into on Aug. 1, 2007, had an initial capacity of $1.5 billion. Additionally, the issuance of the 12.5 million shares to index funds will be used to meet the anticipated needs of index funds to acquire HCP common stock when the company is added to the S&P 500 Index at end of the business day on March 28. Both offerings are on target to close simultaneously.

Headquartered in Long Beach, Calif., HCP invests primarily in real estate associated with the healthcare industry and is considered the largest REIT in its niche. As of the close of 2007 the company's portfolio consisted of 753 senior housing, life science, medical office, hospital and skilled nursing properties. HCP stock opened today at $32.81 today.

 
Recent Seniors Housing Headlines
Parkbridge Completes $32M Financing, Closes on Seniors Communities
Oct. 07, 2008
Parkbridge Lifestyle Communities Inc. has announced the completion of a $32 million financing of one of its properties. The financing generated net proceeds of $13.2 million after repayment of a pre-existing first mortgage loan and associated transaction costs. The net proceeds were used to repay a $9 million secured facility and to partially repay amounts drawn under the corporation's operating lines.
torrey pines HCP Completes Integration of $3B Slough Portfolio
Oct. 01, 2008
About six weeks after concluding its offering of 14.95 million shares of common stock, Long Beach-headquartered HCP Inc. has completed the integration of its $3 billion acquisition of Slough Estates USA Inc. that closed in August 2007. The Slough portfolio is primarily located in San Diego and San Francisco, two of the three largest life science clusters in the country.
Sunrise to Take its Innovative Independent Living Brand to Denver Area
Sept. 26, 2008
Sunrise Senior Living has revealed plans to open the Stratford at FlatIrons, an independent living community that will be located approximately 15 miles from Denver in Broomfield, Colo.
Omega Transfers Operations of 13 Facilities to Affiliates of Formation Capital; Genesis Healthcare to Manage
Sept. 09, 2008
Omega Healthcare Investors Inc. has announced that it completed the operational transfer of 13 skilled nursing facilities to affiliates of Formation Capital as part of its deal disclosed August 7.
 

 

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