Heath Care REIT gains $1.4B from offering

3/7/2011

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.