Health Care REIT Closes $133 Million Loan & Announces Investments

Health Care REIT, Inc. (NYSE:HCN) announced this week that that it closed a $133 million first mortgage loan secured by 12 senior housing properties.  The portfolio of properties includes properties that have various levels of service at the properties.   KeyBank Capital Markets, Inc. originated the 10-year loan with a fixed interest rate of 6.10% and intends to sell it to Freddie Mac (NYSE:FRE).  The company also announced that it completed gross investments of $173 million in its facilities which include continuing care retirement communities, specialty care facilities and medical office buildings.


"This financing further strengthens our balance sheet and liquidity position. We are pleased to have worked with Freddie Mac and KeyBank to access additional capital at attractive terms given the current state of the economy," commented George L. Chapman, chairman, chief executive officer and president of Health Care REIT, Inc.