TOLEDO, Ohio, Apr 07, 2009 (BUSINESS WIRE) -- Health Care REIT, Inc. (NYSE:HCN) announced today that it closed a $133 million first mortgage loan secured by 12 senior housing properties with multiple levels of service. The 10-year debt has a fixed interest rate of 6.10%. KeyBank Capital Markets, Inc. originated the loan and intends to sell it to Freddie Mac (NYSE:FRE).
"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.
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 December 31, 2008, the company's broadly diversified portfolio consisted of 633 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, including those discussed in the company's reports filed from time to time with the Securities and Exchange Commission. 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.
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