Business Services Industry
Health Care REIT Inc. announces purchase of 1,575,800 shares of common stock by Cohen & Steers Capital Management Inc
Business Wire, Sept 5, 1996
TOLEDO, Ohio--(BUSINESS WIRE)--Sept. 5, 1996--Health Care REIT Inc. (NYSE:HCN) announced it is filing a prospectus supplement for an offering of 1,587,800 shares of Common Stock with the Securities and Exchange Commission.
In connection with the offering of shares, 1,575,800 shares have been purchased by Cohen & Steers Capital Management Inc. for its clients.
"We are pleased to welcome Cohen & Steers as our largest institutional shareholders," stated George L. Chapman, president of Health Care REIT Inc. Chapman added, "The confidence displayed by Cohen & Steers marks a significant event for the company and advances its goal of achieving broader institutional market support."
The offering is being underwritten by Alex. Brown & Sons Inc. Proceeds derived from the offering will be used to invest in additional health care properties.
Health Care REIT Inc., with headquarters in Toledo, is a real estate investment trust which invests in health care facilities, primarily nursing homes, assisted living facilities, retirement centers and specialty care hospitals. The company has investments in 125 health care facilities in 28 states and has total assets of approximately $434 million.
CONTACT: Health Care REIT Inc., Toledo
Erin Ibele or Ed Lange, 419/247-2800
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