HCP (NYSE:HCP) announced that it has placed $259 million of secured debt on 21 of its senior housing assets. The assets are cross-collateralized and the debt has a 7-year term with a fixed interest rate of 5.83%. Fannie Mae purchased the secured debt provided by Grandbridge Real Estate Capital LLC. HCP, Inc., an S&P 500 company, is a real estate investment trust (REIT) that, together with its consolidated subsidiaries, invests primarily in real estate serving the healthcare industry in the United States. As of March 31, 2008, the Company’s portfolio of properties, excluding assets held for sale but including mortgage loans and properties owned by unconsolidated joint ventures, totaled 721 properties among the following segments: 269 senior housing, 105 life science, 269 medical office, 27 hospital and 51 skilled nursing. For more information, visit the Company’s website at www.hcpi.com.
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