Health Care REIT Inc., a Toledo real estate investment trust, Monday said its offering of nearly 29 million shares produced $1.4 billion in gross proceeds, and the proceeds will help pay for its previously announced $2.4 billion acquisition of real estate assets of Genesis HealthCare Corp.
Its public offerings included $719 million in a type of preferred shares. If the Genesis deal falls through, the Toledo firm said, it will use proceeds from its stock offerings to invest in other health care and senior housing properties as well as to repay debt.
Guidelines: Please keep your comments smart and civil. Don't attack other readers personally, and keep your language decent. Comments that violate these standards, or our privacy statement or visitor's agreement, are subject to being removed and commenters are subject to being banned. To post comments, you must be a registered user on toledoblade.com. To find out more, please visit the FAQ.