Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers N > Headlines for Nationwide HealthProperties Inc. > News item |
S&P: Nationwide Health unchanged
Standard & Poor's said its ratings on Nationwide Health Properties Inc. (BBB-/stable) are currently unaffected by the company's announcement that it will acquire the remaining 21 of 28 medical office buildings from privately held Pacific Medical Buildings for $795 million.
The buildings are relatively new class A assets in West Coast markets, predominantly California and Washington, the agency said, adding that Nationwide Health acquired seven of the 28 properties in the portfolio in late-2007 for $120 million and will finance the remaining 21 with $283 million of attractively priced assumable debt, at least $175 million in partnership units, net proceeds from a previously announced $305 million portfolio sale and the balance from revolver draws.
According to S&P, Nationwide Health is staggering the property acquisitions over the next three years and has already secured financing for acquiring 16 properties in 2008.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.