Profile: Health Care REIT Inc (HCN)
24 Apr 2015
Health Care REIT, Inc., incorporated on April 4, 1985, is a real estate investment trust (REIT). The Company’s portfolio has range of seniors housing and healthcare real estate, including seniors housing communities, skilled nursing/post-acute facilities, medical office buildings, inpatient and outpatient medical centers and life science facilities. The Company operates in three segments: seniors housing triple-net, seniors housing operating and medical facilities. Its properties consists of land, building, improvements and related rights. The Company’s hospitals and seniors housing triple-net properties are leased to operators under long-term operating leases. Its medical office building portfolio is primarily self-managed and consists principally of multi-tenant properties leased to health care providers.
Seniors Housing Triple-Net
The Company’s seniors housing triple-net properties include independent living facilities, continuing care retirement communities, Alzheimer’s/dementia facilities, skilled nursing/post-acute facilities, Care Homes with Nursing (United Kingdom) and Care Homes (United Kingdom). Its properties are primarily leased to operators under long-term, triple-net master leases. Its properties include stand-alone facilities that provide one level of service, combination facilities that provide multiple levels of service, and communities or campuses that provide a range of services. Independent living facilities are age-restricted, multifamily properties with central dining facilities that provide residents access to meals and other services, such as housekeeping, linen service, transportation and social and recreational activities. Continuing care retirement communities include a combination of detached homes, an independent living facility, an assisted living facility and/or a skilled nursing facility on one campus. Skilled nursing/post-acute facilities are licensed daily rate or rental properties where the majority of individuals require around the clock nursing and/or medical care. Care Homes are rental properties that provide essentially the same services as United States assisted living facilities. Care homes with nursing facilities are licensed daily rate or rental properties where the majority of individuals require around the clock nursing and/or medical care.
Seniors Housing Operating
The Company has relationships with nine operators to own and operate 279 facilities (plus 44 facilities in unconsolidated facilities). In each instance, its partner provides management services to the properties pursuant to an incentive-based management contract.
The Company’s medical facilities include medical office buildings, hospitals and life science facilities. The medical office building portfolio consists of health care related buildings that include physician offices, ambulatory surgery centers, diagnostic facilities, outpatient services and/or labs. The Company’s hospitals include acute care hospitals, inpatient rehabilitation hospitals, and long-term acute care hospitals. Acute care hospitals provide a range of inpatient and outpatient services, including, but not limited to, surgery, rehabilitation, therapy and clinical laboratories. Inpatient rehabilitation hospitals provide inpatient services for patients with intensive rehabilitation needs. Long-term acute care hospitals provide inpatient services for patients with complex medical conditions that require more intensive care, monitoring or emergency support than is available in skilled nursing facilities. The life science portfolio consists of laboratory and office facilities designed and constructed for use by biotechnology and pharmaceutical companies.
Health Care REIT Inc
4500 Dorr St
TOLEDO OH 43615-4040