HCP, Inc. (HCP) Will Spinoff HCR ManorCare into Publicly-Traded REIT
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HCP To Spin Off HCR ManorCare Portfolio Into Independent, Publicly-Traded REIT
May 9, 2016 6:00 AM EDTIRVINE, Calif., May 9, 2016 /PRNewswire/ --Â HCP (NYSE: HCP) today announced that the Company's Board of Directors has unanimously approved a plan to spin off its HCR ManorCare ("HCRMC") portfolio of skilled nursing ("SNF") and assisted living assets, as well as other skilled nursing assets, into an independent, publicly-traded REIT ("SpinCo"). Â
The spin-off transaction will enable HCP to improve its portfolio quality and increase its focus on core growth businesses Senior Housing, Life Science and Medical Office that consist of a diversified group of leading operators and tenants primarily within the private-pay... More
