Monmouth Real Estate Investment is offering 7 million shares of common stock this week and giving
underwriters a 30-day option to purchase up to 1.05 million additional shares. The public equity REIT will use the proceeds to repay revolving credit facility debts and for purchases and expansions of existing properties.
Health Care REIT plans to offer 18 million shares in a stock sale. It will use the proceeds to repay debt and to invest in acquisitions of health care and senior housing properties. The REIT has completed $508 million in acquisitions so far in 2012. The offering will increase Health Care REIT's outstanding shares by 9.4%.
CommonWealth REIT and Health Care REIT reported they would be selling common shares. CommonWealth REIT plans to sell 5 million common shares to pay down its debt and buy back Series B preferred shares. Health Care REIT expects to offer 7 million shares, with the intention of using the proceeds for acquisitions and debt repayment.
Health Care REIT agreed to acquire a 90% stake in 29 senior centers from Sunrise Senior Living, a unit of Arcapita, for $643.5 million. Under the terms of the deal, Sunrise Senior will continue to operate the portfolio.