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Health Care REIT, Inc. Announces Gross Investments of $177.7 Million for Second Quarter 2009

07/09/2009

TOLEDO, Ohio--(BUSINESS WIRE)--Jul. 9, 2009-- Health Care REIT, Inc. (NYSE:HCN) announced today 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 investment activities (dollars in thousands):

 
        2Q09       Year-To-Date 2009
        Properties         Amount       Properties         Amount
Construction in progress advances:                                  
  Development projects:                                  
  CCRC - entrance fee     3         $ 22,789       3         $ 50,797
  CCRC - rental     1           422       1           905
  Combination - entrance fee     4           22,636       4           44,340
  Combination - rental     14           44,220       16           99,814
  Freestanding dementia care     2           2,109       3           4,583
  Freestanding skilled nursing     1           2,461       1           5,559
  Specialty care facilities     3           29,645       3           51,855
  Medical office buildings     5           19,444       5           45,749
  Total development projects     33           143,726       36           303,602
  Expansion projects:                                  
  CCRC - entrance fee     3           397       3           1,830
  Combination - entrance fee     4           500       4           1,183
  Total expansion projects     7           897       7           3,013
  Total CIP advances     40           144,623       43           306,615
                                     
Capital improvements to existing properties             2,224                   7,762
Loan advances                 30,812                   37,046
Gross investments                 177,659                   351,423
                                     
Property sales                 60,304                   104,572
Loan payoffs                 18,440                   18,440
Gross dispositions                 78,744                   123,012
                                     
Net investments               $ 98,915                 $ 228,411
 

The company also announced that it will release its 2009 second quarter earnings results after the market closes on August 5, 2009. A conference call is scheduled for 10:00 a.m. Eastern Time on August 6, 2009 to discuss these results. The information to be discussed on the call will be contained in the company's earnings release, which will be available in the News & Events section of the company’s website at www.hcreit.com.

The conference call will be accessible by telephone and through the Internet. Telephone access will be available by dialing 888-346-2469 or 706-758-4923 (international). For those unable to listen to the call live, a taped rebroadcast will be available beginning two hours after completion of the call through August 20, 2009. To access the rebroadcast, dial 800-642-1687 or 706-645-9291 (international). The conference ID number is 18931327. To participate in the webcast, log on to www.hcreit.com or www.earnings.com 15 minutes before the call to download the necessary software. Replays will be available for 90 days through the same websites.

Health Care REIT, Inc., an S&P 500 company with headquarters in Toledo, Ohio, is a real estate investment trust that invests across the full spectrum of senior housing and health care real estate. The company also provides an extensive array of property management and development services. As of June 30, 2009, the company’s broadly diversified portfolio consisted of 620 properties in 39 states. More information is available on the Internet at www.hcreit.com.

This document may contain "forward-looking" statements as defined in the Private Securities Litigation Reform Act of 1995. When the company uses words such as “may,” “will,” “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate” or similar expressions, it is making forward-looking statements. Forward-looking statements reflect current plans and expectations and are based on information currently available. They are not guarantees of future performance and involve risks and uncertainties. The company assumes no obligation to update or revise any forward-looking statements or to update the reasons why actual results could differ from those projected in any forward-looking statements.

Source: Health Care REIT, Inc.

Health Care REIT, Inc.
Scott Estes, 419-247-2800
Mike Crabtree, 419-247-2800