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This Week's Most Popular

HCP Acquires $720 Million Stake in Nursing Home Chain

Published Monday, August 31, 2009

Making a bold statement in a recessionary environment, real estate investment trust HCP has purchased a $720 million stake in the first mortgage of HCR ManorCare, one of the nation’s largest nursing home owners and operators. The debt was purchased at a discount of about $590 million, making it one of the biggest seniors housing deals so far this year. The seller of debt, which was not disclosed, financed 72% of the purchase price. HCP contributed $165 million in equity. Stock analysts anticipate HCP’s levered rate of return will range from 21% to ...

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