Health Care REIT plans 18 million-share offering

2/22/2012

Toledo-based Health Care REIT said Tuesday that it plans an 18 million-share stock offering to generate cash to repay advances taken on its lines of credits, other outstanding debts, and for other purposes.

Also, Health Care REIT said it had completed $508 million in acquisitions: six senior housing communities for $210 million and 11 medical office buildings for $298 million.

They are in addition to its recently announced $503.3 million investment in a $925.2 million partnership with Canadian firm Chartwell Seniors Housing to own and operate 42 senior housing and care communities in Canada.

The real estate investment trust, which invests in senior housing and health-care real estate, owns or has investments in 937 facilities in 46 states.