HCP Places $319 Million of Secured Financing

HCP (NYSE:HCP) announced that it has placed $140 million of 5-year secured debt on four of its senior housing assets and $179 million of 8-year secured debt on 12 of its senior housing assets. The assets are cross-logo_hcpi collateralized and the debt has a weighted average interest rate of 6.39%. Fannie Mae purchased the secured debt.  This placement should show as a sign that the properties and the cash flow from those properties are strong enough to warrant financing in today’s difficult credit environment.  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 June 30, 2008, the Company’s portfolio of properties, excluding assets held for sale but including mortgage loans and properties owned by unconsolidated joint ventures, totaled 706 properties among the following segments: 267 senior housing, 107 life science, 256 medical office, 25 hospital and 51 skilled nursing. For more information, visit the Company’s website at www.hcpi.com.