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Blackstone venture to sell senior homes for $1.7 bln

Posted on 17 October 2012

A Blackstone Group LP (BX) fund and Emeritus Corp. (ESC) agreed to sell a group of senior housing properties to HCP Inc. (HCP) for $1.73 billion, the largest deal for a health-care real estate investment trust this year.
Blackstone Real Estate Partners VI bought the 133-property portfolio out of bankruptcy in 2010, HCP said in a statement today. The Long Beach, California-based company, the largest health-care REIT by market value, said the purchase will add 8 cents a share to its annual funds from operations………………………………………..Full Article: Source


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