Toledo’s Health Care REIT Inc. said Tuesday it will offer 12 million shares of common stock to raise cash to repay some of its unsecured debt and also to purchase additional health care and seniors housing properties.
Bank of America Merrill Lynch, Goldman, Sachs & Co., J.P. Morgan, and Morgan Stanley will handle the offering for the real estate investment trust. A sale price for the shares under the offering has not been set.
Health Care REIT made the announcement after the market closed. Its shares dropped 8 cents to close at $64.43.