Health Care REIT, Toledo, Ohio, is planning to sell approximately 1.58 million shares of its common stock to certain clients of Cohen & Steers Capital Management.The real estate investment trust said it expects to generate net proceeds of approximately $48 million from the sale, which will be used to invest in additional health care properties. The REIT has also completed a sale of four million shares of 7.875% preferred stock, generating approximately $96.6 million in net proceeds. A portion of these proceeds will be used to redeem three million shares of the company's 8.875% preferred stock, the REIT said. Health Care REIT can be found on the Internet at http://www.hcreit.com.
Processing Content
