Health Care REIT (HCN) Tops Q2 FFO by 1c
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Canada Pension Plan Investment Board and HCN Form Joint Venture in Portfolio of Medical Office Buildings in Southern California
August 4, 2015 7:37 AM EDTTORONTO, ONTARIO and TOLEDO, OHIO -- (Marketwired) -- 08/04/15 -- Canada Pension Plan Investment Board (CPPIB) and Health Care REIT, Inc. (NYSE: HCN) (HCN) announced today that they have formed a 45%/55% joint venture to hold a portfolio of medical office buildings in Southern California. The joint venture will initially own a 50.5% interest in the portfolio and the seller, who contributed the portfolio in exchange for a mix of operating partnership units and cash, will retain a 49.5% ownership stake. It is expected that the joint venture's stake will increase to 100% if/when the seller converts their... More
