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Health Care REIT, Inc. Announces Gross Investments of $156.3 Million for Third Quarter 2009

Tue. October 13, 2009; Posted: 05:07 PM
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TOLEDO, Ohio, Oct 13, 2009 (BUSINESS WIRE) -- HCN | Quote | Chart | News | PowerRating -- Health Care REIT, Inc. (NYSE:HCN) announced today that it completed $156.3 million of gross investments during the third quarter of 2009. During the quarter, the company had dispositions of $30.1 million, resulting in net new investments of $126.2 million. For the nine months ended September 30, 2009, the company completed $507.7 million of gross investments, offset by $153.1 million of asset sales and loan payoffs, which generated $354.6 million of net new investments. The following is a summary of the company's investment activities (dollars in thousands):

                                            3Q09                       Year-To-Date 2009
                                            Properties   Amount        Properties   Amount
Construction in progress advances:
Development projects:
CCRC - entrance fee                         2            $   12,133    3            $   62,930
CCRC - rental                               1                1,908     1                2,813
Combination - entrance fee                  3                16,357    4                60,697
Combination - rental                        10               26,201    16               126,015
Freestanding dementia care                  2                2,366     3                6,949
Freestanding skilled nursing                0                0         1                5,559
Specialty care facilities                   3                30,816    3                82,671
Medical office buildings                    6                50,893    6                96,642
Total development projects                  27               140,674   37               444,276
Expansion projects:
CCRC - entrance fee                         3                467       3                2,297
Combination - entrance fee                  4                1,157     4                2,340
Total expansion projects                    7                1,624     7                4,637
Total CIP advances                          34               142,298   44               448,913
Capital improvements to existing properties                  4,176                      11,938
Loan advances                                                9,835                      46,882
Gross investments                                            156,309                    507,733
Property sales                                               28,128                     132,700
Loan payoffs                                                 2,000                      20,440
Gross dispositions                                           30,128                     153,140
Net investments                                          $   126,181                $   354,593

The company also announced that it will release its 2009 third quarter earnings results after the market closes on November 4, 2009. A conference call is scheduled for 10:00 a.m. Eastern Time on November 5, 2009 to discuss these results. The information to be discussed on the call will be contained in the company's earnings release, which will be available in the News & Events section of the company's website at www.hcreit.com.

The conference call will be accessible by telephone and through the Internet. Telephone access will be available by dialing 888-346-2469 or 706-758-4923 (international). For those unable to listen to the call live, a taped rebroadcast will be available beginning two hours after completion of the call through November 19, 2009. To access the rebroadcast, dial 800-642-1687 or 706-645-9291 (international). The conference ID number is 34821337. To participate in the webcast, log on to www.hcreit.com or www.earnings.com 15 minutes before the call to download the necessary software. Replays will be available for 90 days through the same websites.

Health Care REIT, Inc., an S&P 500 company with headquarters in Toledo, Ohio, is a real estate investment trust that invests across the full spectrum of senior housing and health care real estate. The company also provides an extensive array of property management and development services. As of September 30, 2009, the company's broadly diversified portfolio consisted of 608 properties in 39 states. More information is available on the Internet at www.hcreit.com.

This document may contain "forward-looking" statements as defined in the Private Securities Litigation Reform Act of 1995. When the company uses words such as "may," "will," "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions, it is making forward-looking statements. Forward-looking statements reflect current plans and expectations and are based on information currently available. They are not guarantees of future performance and involve risks and uncertainties. The company assumes no obligation to update or revise any forward-looking statements or to update the reasons why actual results could differ from those projected in any forward-looking statements.

SOURCE: Health Care REIT, Inc.

Health Care REIT, Inc. 
Scott Estes, 419-247-2800 
or 
Mike Crabtree, 419-247-2800
For full details on Health Care Reit Inc (HCN) click here. Health Care Reit Inc (HCN) has Short Term PowerRatings of 5. Details on Health Care Reit Inc (HCN) Short Term PowerRatings is available at This Link.

    


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