(Save the date: RealShare Medical Office buildings comes to the Four Seasons in Scottsdale, AZ November 7 -8 2012)
LONG BEACH, CA-HCP Inc. has priced an offering of $300 million of 3.15% senior unsecured notes due 2022. The offering size was increased in response to investor demand, according to the REIT.
The price to the investors was 98.88% of the principal amount of the notes for an effective yield of 3.28%. The net proceeds of the offering will be approximately $293.7 million, which will be used for general corporate purposes that may include the funding of future acquisitions or investments.
The offering is expected to close on July 23, 2012, subject to customary closing conditions.
Goldman, Sachs & Co., J.P. Morgan and Wells Fargo Securities acted as joint book-running managers for the offering.
HCP invests primarily in real estate serving the healthcare industry. The company's portfolio of assets is diversified among five distinct sectors: senior housing, post-acute/skilled nursing, life science, medical office and hospitals.
The firm plans to report its second quarter financing results on July 31.
In June, HCP agreed to sell 7.8 million shares of its common stock to Citigroup, as sole underwriter, in an underwritten public offering. HCP said it intended to use the net proceeds from that offering to “repay indebtedness,” including $250 million aggregate principal amount of its 6.45% Senior Notes at maturity on June 25, 2012, and to use the remaining net proceeds for general corporate purposes that may include the funding of future acquisitions or investments.
Also in June, the firm revealed that it was the lead investor in
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
