TOLEDO, Ohio--(BW HealthWire)--Oct. 13, 1999--Health Care REIT, Inc. (NYSE: HCN) announced today that investment activity for the third quarter of 1999 totalled $41,540,000. For the nine months ended September 30, 1999, the company funded investments of $240,747,000.

The 1999 investment activity contributed to an 18 percent increase in total assets which totalled $1,261,859,000 at September 30, 1999, as compared with $1,073,000,000 at December 31, 1998.

Investment activity during the first nine months of 1999 included real property investments of $189,541,000, mortgage loans of $45,310,000 and equity related investments of $5,896,000. Facility-based investments, inclusive of construction advances, were comprised of $191,100,000 for 75 assisted living facilities, $25,427,000 for 10 nursing homes and $18,324,000 for 10 retirement centers. Aggregate funding was provided to 26 operators in 28 states.

Year-to-date, 43 construction projects completed the construction phase of the company's investment process. Thirty-two facilities were converted to permanent real property investments, with an aggregate investment of $183,611,000. Eleven facilities were converted to permanent mortgage loans with an aggregate investment balance of $62,006,000.

Health Care REIT, Inc., with headquarters in Toledo, Ohio, is a real estate investment trust, which invests in health care facilities, primarily nursing homes, assisted living facilities and retirement centers. At September 30, 1999, the company had investments in 239 health care facilities in 34 states and had total assets of approximately $1.3 billion.

For more information on Health Care REIT, Inc., via facsimile at no cost, dial 1-800-PRO-INFO and enter the company code -- HCN, or visit the company's website at www.hcreit.com.