Health Care REIT to Offer Shares

Yesterday, Health Care REIT announced their buyout acquisition of Sunrise Senior Living Inc. should raise the value of those properties some $1.3 billion dollars, up from $1.9 billion to a projected $3.2 billion.

The real estate investment trust announced late in August they would buy Sunrise for an estimated $1 billion at $14.50 per share. Since the buyout announcement, Health Care REIT Inc. and Sunrise have acquired majority interests in some 38 properties in the UK.

Health Care REIT also announced their planned offering of 22 million shares of common stock., with an option for buying up another 3.3 million. The sale monies are to be use to pay back back debt, according to the news. But shares fell 88 cents, or 1.5 percent, to $57.33 on the news.

The preliminary prospectus supplement and accompanying base prospectus can be obtained by contacting BofA Merrill Lynch, 222 Broadway, 7th Floor, New York, NY 10038, Attn: Prospectus Department