Deal closed.Health Care Property Investors Inc. said that it has closed its purchase of a Florida Florida, state, United States Florida (flôr`ĭdə, flŏr`–), state in the extreme SE United States. A long, low peninsula between the Atlantic Ocean (E) and the Gulf of Mexico (W), Florida is bordered by Georgia and health care real estate investment trust in a $5.3 billion deal. The deal now makes the Long Beach-based company into the nation's largest public REIT REIT See: Real Estate Investment Trust REIT See real estate investment trust (REIT). specializing in health care properties. With its acquisition of Orlando-based CNL CNL CityNightLine (German Rail) CNL Cancel CNL Clinical Nurse Leader Cnl Colonel CNL Center for Naval Leadership CNL Compensated Neutron Log (oil industry) Retirement Properties Inc., Health Care Property's portfolio now has 807 properties in 44 states. In the merger, each share of CNL Retirement common stock was converted into the right to receive a cash payment of $11.12 and 0.09 of a share of Health Care Property common stock. The company assumed or refinanced approximately ap·prox·i·mate adj. 1. Almost exact or correct: the approximate time of the accident. 2. $1.7 billion of CNL's debt. |
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