Health Care REIT Expects Second Half 2014 Acquisition Pipeline Of $1.7 Bln

(RTTNews) - Health Care REIT Inc (HCN) said Thursday that, based on acquisitions closed thus far in the third quarter and potential acquisitions for which HCN has signed a letter of intent or other customary preliminary documentation, HCN anticipates acquiring about $1.7 billion of properties in the second half of 2014.

The aggregate anticipated acquisition amount includes the previously announced approximately $950 million HealthLease Properties REIT acquisition and $257 million Gracewell acquisition with Sunrise Senior Living and $535 million of expected future acquisitions.

HCN expects the aggregate acquisitions to include approximately $597 million of post-acute and long-term care properties, $468 million of seniors housing triple-net lease properties, $371 million of seniors housing operating properties and $306 million of medical office properties.

Demonstrating the success of HCN's relationship investing approach, approximately 71% of these acquisitions, excluding HealthLease, are expected to involve existing portfolio partners including Sunrise, Genesis HealthCare, Senior Resource Group and Avery Healthcare.