HCP REIT Sells Nursing Centers, Prices $800M Offering

Law360, New York (November 6, 2013, 2:37 PM EST) -- Real estate investment trust Healthcare Property Investors Inc. has agreed to sell $83 million worth of nursing center properties to post-acute care provider Kindred Healthcare Inc., and in a separate deal priced $800 million of senior unsecured notes, HCP announced Tuesday.

Net proceeds from the offering of 4.25 percent senior unsecured notes due in 2023 are about $789 million, and will be used to pay $400 million of the REIT's 5.65 percent senior unsecured notes due on Dec. 15, according to HCP.

In the Kindred deal,...
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