HCP, Inc. is set to acquire $6.1 billion in real estate assets from HCR ManorCare, a Toledo-based rehabilitation and assisted living chain controlled by the Carlyle Group, the company announced Monday.
The real estate investment trust, which is based in Long Beach, Calif., will pick up 338 HCR facilities located mostly in Ohio, Pennsylvania, Florida, Illinois, and Michigan. It is one of the year’s biggest REIT deals and will involved $3.5 billion in cash, $852 million in HCP shares, and the assumption of $1.7 billion of HCR debt.
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