On June 1, 2009, Nationwide Health Properties, Inc. (the “Company”) entered into an amendment to the Contribution Agreement (the “Amendment”) between NHP and Pacific Medical Buildings LLC, (“Pac Med”), and certain of its affiliates, that provides NHP/PMB with a right of first offer with respect to four of the six properties that were eliminated from the previously executed Contribution Agreement (from February 2008), as well as the two properties that are currently in development. In addition, as a result of the elimination of the six properties from the Contribution Agreement, as amended by the Amendment, NHP/PMB became obligated to pay $2,959,586, of which $2,672,464 was payable to Pac Med. Under the Amendment, the portion of the Current Premium Adjustment payable to Pac Med was paid 50% in cash and 50% in common stock of the Company (valued at $29 per share).
For the full 8-K filing, click here.
