Summary Box: Health Care REIT in $2.4B deal

AP News
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Posted: Feb 28, 2011 6:09 PM
Summary Box: Health Care REIT in $2.4B deal

THE DEAL: Health Care REIT Inc. agreed to buy 147 skilled nursing and post-acute care properties owned by Genesis HealthCare Inc. in a deal worth $2.4 billion. The deal gives Health Care REIT post-acute and skilled nursing facilities in metropolitan areas across the Northeast and Mid-Atlantic regions.

THE FUNDS: The Toledo, Ohio, company will pay for the deal with a stock offering and a bridge loan.

TWO FOR ONE: Earlier Monday, Ventas Inc. agreed to buy Nationwide Health Properties Inc. for $5.8 billion in stock. That deal would make Ventas the biggest health care REIT in the U.S.