Health Care REIT, Toledo, Ohio, has completed a public offering of common stock at a total value of $1.1 billion.
The offering was valued at $53.50 per share.
Health Care REIT completes $1.1 billion stock offering
The real estate investment trust plans to use the money to repay debt and for general corporate purposes, which includes investing in healthcare and senior living real estate, according to a news release.
In March of last year, Health Care REIT agreed to pay $2.4 billion for the real estate assets of post-acute provider chain Genesis HealthCare, Kennett Square, Pa. The market for real estate in post-acute care is expected to continue to be strong.
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