Health Care REIT, Inc. Announces Gross Investments of $702.5 Million for Third Quarter 2010

TOLEDO, Ohio--(BUSINESS WIRE)-- Health Care REIT, Inc. (NYSE:HCN) today announced investment results for the company’s third quarter ended September 30, 2010.

“We are pleased to announce $1.6 billion of gross investments to-date, positioning the company to exceed $2 billion of gross investments for the year,” commented George L. Chapman, chief executive officer of Health Care REIT. “We have completed our previously-announced $817 million partnership with Merrill Gardens. Our robust investment pipeline, which currently exceeds $5 billion, further demonstrates the success of our platform and relationship-based investment approach.”

3Q10 Year-to-date 2010
Properties     Amount Properties     Amount
Real property acquisitions:
Senior housing - operating(1) 25 $ 510,000 25 $ 510,000
Combination - rental 5 110,280 7 142,580
Freestanding assisted living - - 7 72,750
Freestanding dementia care - - 1 3,800
Medical office buildings -   -   19   213,430  
Total acquisitions 30 620,280 59 942,560
Construction in progress advances:
Development projects:
CCRC - entrance fee - - 1 11,685
Combination - entrance fee - - 1 5,447
Combination - rental 4 6,416 9 31,163
Freestanding dementia care 1 1,275 2 6,391
Hospitals 3 19,490 4 89,136
Medical office buildings 6 31,120   7 91,042  
Total development projects 14 58,301 24 234,864
Expansion projects:
CCRC - entrance fee 4 1,275 4 2,442
Combination - entrance fee 4 2,423 4 4,987
Hospitals 1   4,795   1   4,795  
Total expansion projects 9   8,493   9   12,224  
Total CIP advances 23 66,794 33 247,088
Investments in unconsolidated life sciences joint ventures - - 7 327,064
Capital improvements to existing properties 4,672 9,377
Loan advances   10,716     53,970  
Gross investments 702,462 1,580,059
Property sales (69,704 ) (115,633 )
Loan payoffs   (2,210 )   (3,809 )
Gross dispositions   (71,914 )   (119,442 )
Net investments $ 630,548   $ 1,460,617  

(1) Amount represents 100% of purchase price related to the acquisition of 25 additional properties in the partnership with Merrill Gardens LLC.

The company also announced that it will release its 2010 third quarter earnings results after the market closes on November 3, 2010. A conference call is scheduled for 10:00 a.m. Eastern Time on November 4, 2010 to discuss these results. The information to be discussed on the call will be contained in the company's earnings release, which will be available in the News section of the company’s website at

The conference call will be accessible by telephone and through the Internet. Telephone access will be available by dialing 888-346-2469 or 706-758-4923 (international). For those unable to listen to the call live, a taped rebroadcast will be available beginning two hours after completion of the call through November 18, 2010. To access the rebroadcast, dial 800-642-1687 or 706-645-9291 (international). The conference ID number is 16264752. To participate in the webcast, log on to or 15 minutes before the call to download the necessary software. Replays will be available for 90 days through the same websites.

Health Care REIT, Inc., an S&P 500 company with headquarters in Toledo, Ohio, is a real estate investment trust that invests across the full spectrum of senior housing and health care real estate. The company also provides an extensive array of property management and development services. As of September 30, 2010, the company’s broadly diversified portfolio consisted of 645 properties in 39 states. More information is available on the company’s website at

This document may contain “forward-looking” statements as defined in the Private Securities Litigation Reform Act of 1995. When the company uses words such as “may,” “will,” “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate” or similar expressions, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties. The company’s expected results may not be achieved, and actual results may differ materially from expectations. This may be a result of various factors, including, but not limited to, competition within the health care and senior housing industries; the failure of closings to occur as and when anticipated; and unanticipated difficulties and/or expenditures relating to future acquisitions. Additional factors are discussed in the company’s Annual Report on Form 10-K and in its other reports filed from time to time with the Securities and Exchange Commission. The company assumes no obligation to update or revise any forward-looking statements or to update the reasons why actual results could differ from those projected in any forward-looking statements.


Health Care REIT, Inc.
Scott Estes, 419-247-2800
Mike Crabtree, 419-247-2800

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