TORONTO, ONTARIO and TOLEDO, OHIO–(Marketwired – Aug 4, 2015) – Canada Pension Plan Advance Board (CPPIB) and Bloom Affliction REIT, Inc. (HCN) (HCN) appear today that they accept formed a 45%/55% collective adventure to authority a portfolio of medical appointment barrio in Southern California. The collective adventure will initially own a 50.5% absorption in the portfolio and the seller, who contributed the portfolio in barter for a mix of operating affiliation units and cash, will absorb a 49.5% buying stake. It is accepted that the collective venture’s pale will access to 100% if/when the agent converts their operating affiliation units into HCN b or cash. The absolute portfolio is admired at US$449 million.
The portfolio comprises eight medical appointment barrio totalling 437,875 aboveboard feet, with the majority of assets amid aural the Golden Triangle commune of Beverly Hills, California, a arch medical appointment bazaar with adorable accumulation and appeal characteristics. The of the portfolio’s assets are amid in the San Diego and Los Angeles markets.
“This accretion marks our access into the bloom affliction absolute acreage sector, a growing and acute subsector aural the absolute acreage market. With an crumbling citizenry and accretion appeal for bloom care, we appearance the U.S. bloom affliction absolute acreage area as an adorable abiding investment,” said Peter Ballon, Managing Director, Head of Absolute Acreage Investments Americas. “We are admiring to be entering into a collective adventure with HCN, a well-aligned accomplice with a accurate clue almanac and amazing expertise. We attending advanced to accretion the accord with HCN through added affairs in the sector.”
“We’re aflame to be partnering with CPPIB, one of the best adult absolute acreage investors in the world, on their aboriginal bloom affliction absolute acreage investment. Our goals are well-aligned and we accept there are able advance opportunities for the partnership,” said Tom DeRosa, CEO of HCN. “CPPIB provides HCN with a stable, another basic antecedent to the accessible markets beyond all bread-and-er cycles. We accept congenital an unparalleled arrangement of relationships with arch bloom systems and chief affliction operators that accredit the change of bloom affliction commitment for an crumbling population.”
About Canada Pension Plan Advance Board
Canada Pension Plan Advance Board (CPPIB) is a able advance administration alignment that invests the funds not bare by the Canada Pension Plan (CPP) to pay accepted allowances on account of 18 actor contributors and beneficiaries. In adjustment to body a adapted portfolio of CPP assets, CPPIB invests in accessible equities, clandestine equities, absolute estate, basement and anchored assets instruments. Headquartered in Toronto, with offices in Hong Kong, London, Luxembourg, New York City and São Paulo, CPPIB is absolute and managed apart of the Canada Pension Plan and at arm’s breadth from governments. At March 31, 2015, the CPP Fund totalled $264.6 billion, of which $34.1 billion represented absolute acreage investments. For added advice about CPPIB, amuse appointment www.cppib.com.
About Bloom Affliction REIT, Inc.
HCN, an S&P 500 aggregation with address in Toledo, Ohio, is a absolute acreage advance assurance that invests beyond the abounding spectrum of seniors apartment and bloom affliction absolute estate. We additionally accommodate an all-encompassing arrangement of acreage administration and development services. As of June 30, 2015, our broadly adapted portfolio consisted of 1,411 backdrop in 46 states, the United Kingdom, and Canada. Added advice is accessible on the company’s website at www.hcreit.com.
Forward-Looking Statements for Bloom Affliction REIT, Inc.
This columnist absolution may accommodate “forward-looking” statements as authentic in the Clandestine Securities Litigation Reform Act of 1995. Back HCN uses words such as “may,” “will,” “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate” or agnate expressions that do not chronicle alone to absolute matters, it is authoritative advanced statements. Advanced statements are not guarantees of approaching achievement and absorb risks and uncertainties that may account the absolute after-effects to alter materially from HCN’s expectations discussed in the advanced statements. HCN’s accepted after-effects may not be achieved, and absolute after-effects may alter materially from expectations. This may be a aftereffect of assorted factors, including, but not bound to, the cachet of the economy; the cachet of basic markets, including availability and amount of capital; issues adverse the bloom affliction industry; antagonism aural the bloom affliction and seniors apartment industries; the abortion to accomplish new investments or acquisitions as and back anticipated; the cooperation of collective adventure partners; hasty difficulties and/or expenditures apropos to approaching investments or acquisitions; the adeptness of the collective adventure ally to abet and adeptness acceding on above decisions; and the abortion of the collective adventure to access its buying pale in the portfolio. Added factors are discussed in HCN’s Annual Report on Form 10-K and in its added letters filed from time to time with the Securities and Barter Commission. Finally, HCN undertakes no obligation to amend or alter about any advanced statements, whether because of new information, approaching contest or otherwise, or to amend the affidavit why absolute after-effects could alter from those projected in any advanced statements.
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