Saturday, Jul 02, 2016
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Stock Market

Health Care REIT completes stock sale

Heatlh Care REIT announced Monday that it had successfully completed a public offering of shares of common stock that raised about $1.7 billion. The Toledo-based company sold 29.9 million shares for $56 a share.

The company -- a real estate investment trust focuses on the areas of seniors housing and health care properties -- said it would use the net proceeds of the stock offering to repay advances under its unsecured lines of credit, to repay other debts, and for general corporate purposes, including investing in health care and seniors housing properties.

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