Deal closed.

Health Care Property Investors Inc. said that it has closed its purchase of a Florida 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 specializing in health care properties. With its acquisition of Orlando-based CNL 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 $1.7 billion of CNL's debt.