Health Care REIT to Buy Windrose

Health Care REIT Inc., Toledo, Ohio, and Windrose Medical Properties Trust, Indianapolis, have announced a merger agreement under which Health Care REIT will acquire Windrose for approximately $877 million.The total consideration includes the assumption of Windrose's outstanding debt, which stood at approximately $426 million as of June 30, the real estate investment trusts reported. George Chapman, chief executive officer of Health Care REIT, said the merger would result in an entity with a bigger tenant base and greater asset diversification. "We intend to capitalize on the additional opportunities presented in property management and development, while the increased diversification provided by this combination should provide a more secure revenue stream through different operating cycles, generating higher-quality dividends and incremental value for our shareholders," he said. The REITs can be found online at http://www.hcreit.com and http://www.windrosempt.com.