Health Care REIT Buys Out $173M Stake In Senior Housing JV

Law360, New York (June 28, 2013, 12:15 PM EDT) -- Health Care REIT Inc. said Thursday that it will take over a senior housing joint venture for $173 million and has agreed to lease the properties to Emeritus Senior Living, in a deal that joins a series of recent acquisitions and joint venture buyouts by the health care facility owner. 

The Ohio-based REIT plans to buy Merrill Garden's 20 percent equity interest in their 2010 joint venture — of which the REIT already owns 80 percent — consisting of 38 seniors housing communities, the firm said....
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