IRVINE, Calif., March 15, 2018 /PRNewswire/ -- HCP (NYSE:
HCP) today announced it has closed on the sale of its Tandem
mezzanine loan investment to Fundamental Advisors LP, a leading
alternative asset manager, for $112
million.
"We are pleased to close on the disposition of our last
mezzanine loan investment," said Scott
Brinker, HCP's Chief Investment Officer. "With this sale,
and the recently announced agreement to transition management on 24
HCP-owned senior housing communities from Brookdale to Atria, we're making excellent
progress executing on our key 2018 objectives."
HCP intends to use proceeds from the disposition to repay debt
and for general corporate purposes.
Forward Looking Statements
Statements in this release statement that are not historical
facts are "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. These
statements include HCP's expectations regarding execution on key
2018 objectives and the use of proceeds from the sale of its Tandem
mezzanine loan investment. These statements are made as of the date
hereof, are not guarantees of future events or performance, and are
subject to known and unknown risks, uncertainties, assumptions and
other factors—many of which are out of HCP's and its management's
control and difficult to forecast—that could cause actual results
to differ materially from those set forth in or implied by such
forward-looking statements. These risks and uncertainties include
those disclosed in HCP's Securities and Exchange Act Commission
filings. You should not place undue reliance on any forward-looking
statements. HCP assumes no, and hereby disclaims any, obligation to
update any of the foregoing or any other forward-looking statements
as a result of new information or new or future developments,
except as otherwise required by law.
About HCP
HCP, Inc. is a fully integrated real estate investment trust
(REIT) that invests primarily in real estate serving the healthcare
industry in the United States. HCP
owns a large-scale portfolio diversified across life science,
medical office and senior housing. Recognized as a global leader in
sustainability, HCP has been a publicly-traded company since 1985
and was the first healthcare REIT selected to the S&P 500
index. For more information regarding HCP, visit
www.hcpi.com.
Contact
Andrew Johns
Vice President – Finance and Investor Relations
(949) 407-0400
View original content with
multimedia:http://www.prnewswire.com/news-releases/hcp-closes-on-the-sale-of-its-tandem-mezzanine-loan-investment-300614778.html
SOURCE HCP