Health Care REIT Announces Q1 Investment Pipeline of $2.2B

by Jeff Shaw

TOLEDO, Ohio — Health Care REIT, Inc. (NYSE:HCN) has announced, based on investments closed thus far in the first quarter and potential investments with preliminary documentation, anticipates completing approximately $2.2 billion of investments in the first quarter of 2015.

HCN expects the aggregate investment amount to be comprised of approximately $1.1 billion of seniors housing operating investments, $664 million of triple-net investments and $460 million of loan investments of which the majority is with Genesis Healthcare. HCN expects the aggregate investments to be approximately 52 percent in the United States, 30 percent in the United Kingdom and 18 percent in Canada.

According to HCN, about 81 percent of these investments are expected to involve existing portfolio partners including Belmont Village, Benchmark Senior Living, Brandywine Senior Living, Cascade Living Group, Genesis Healthcare, Merrill Gardens, HCN’s Canadian partner Revera and HCN’s UK partners Avery Healthcare and Signature Senior Lifestyle.

The aggregate anticipated investment amount includes approximately $156 million of secured debt that HCN expects to assume at an average annual interest rate of 3.9 percent.

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