Health Care REIT Announces Gross Investments of $177.7 Million for Q2 2009

healthcare_reit Health Care REIT, Inc. (NYSE:HCN) announced that it completed $177.7 million of gross investments during the second quarter of 2009. During the quarter, the company had dispositions of $78.7 million, resulting in net new investments of $98.9 million. For the six months ended June 30, 2009, the company completed $351.4 million of gross investments, offset by $123.0 million of property sales and loan payoffs, which generated $228.4 million of net new investments. The following is a summary of the company’s gross investments (dollars in thousands):

Properties                       Amount
Development projects:
CCRC – entrance fee 3 22,789
CCRC – rental 1 422
Combination – entrance fee 4 22,636
Combination – rental 14 44,220
Freestanding dementia care 2 2,109
Freestanding skilled nursing 1 2,461
Specialty care facilities 3 29,645
Medical office buildings 5   19,444
Total development projects 33 143,726
Expansion projects:
CCRC – entrance fee 3 397
Combination – entrance fee 4   500
Total expansion projects 7   897
Total CIP advances 40 144,623

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For the full data sheet, click here.

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