REIT Sells Nursing Homes

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Health Care Property Investors Inc. said Tuesday that it has sold 78 skilled-nursing facilities for about $444 million.


Sixty nine of the facilities were sold by the Long Beach real estate investment trust on Dec. 1 to an undisclosed buyer for $392 million.


The remaining nine properties will be taken over by their current tenants, the REIT said in a statement. Health Care Property operates a total of 800 facilities, including nursing homes, hospitals and other medical properties.


Shares in the company closed up 29 cents to $36.88 Tuesday.

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