Health Care Property Investors Buys Several Facilities
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NEWPORT BEACH — Health Care Property Investors Inc. invested $120 million in six assisted-living facilities, one acute-care hospital and five medical-office buildings, in separate transactions.
Health Care said Monday it acquired the assisted-living facilities for $35 million in one transaction. Of these facilities, two are existing facilities and four will be constructed.
Health Care agreed to lend $35 million to build a 139,000-square-foot cardiac acute-care hospital in Austin, Texas. Medcath Inc. will operate the facility, which is expected to open in December 1998.
The latest increases bring the Newport Beach-based company’s investments so far this year to $225 million, up from $120 million for all of 1996.
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