BUSINESS BRIEF

Health Care REIT buys 
the rest of joint venture

9/4/2013

Health Care REIT Inc. announced Tuesday that it had completed a leasing agreement with Emeritus Senior Living that was announced on June 27.

The transaction involves 38 senior housing communities previously owned in an 80/20 joint venture between the Toledo real estate trust and Merrill Gardens. As part of the deal, Health Care REIT acquired Merrill Gardens’ 20 percent interest in the joint venture for $173 million.

Health Care REIT’s stock fell about 1 percent Tuesday to $60.84.