TOLEDO, Ohio--(BUSINESS WIRE)--

Health Care REIT, Inc. (HCN) announced today the completion of the final phase of the Sunrise Senior Living, Inc. property portfolio acquisition. The aggregate $4.3 billion investment includes 120 wholly-owned properties and 5 properties owned in joint ventures with third parties. Health Care REIT expects the portfolio to generate an unlevered NOI yield exceeding 6.5% in the second half of 2013 with long-term growth of 4% to 5% per year on average.

The portfolio includes approximately 10,000 units located in affluent, infill markets. Approximately 90% of the properties are Sunrises well-regarded mansion prototype. The average age of the portfolio is eight years, which is well below the industry average. The properties generate average monthly rental rates that are nearly 100% higher than the industry average. The portfolio is located primarily in markets with high concentrations of age and income-qualified elderly including London, Southern California, Chicago, Philadelphia, Boston, Washington D.C., and Montreal.

The Sunrise transaction epitomizes our strategy to partner with the leading operators to own premier-quality real estate in affluent, infill markets, said George L. Chapman, Chairman and CEO of Health Care REIT. Our teams execution on the joint venture buyouts exceeded all expectations with respect to timing and economics.

Sunrise Property Count Reconciliation:

8/22/12

5/7/13

7/1/13

105

54

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Health Care REIT, Inc. Completes Investment with Sunrise Senior Living