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HEALTH AND REHABILITATION PROPERTIES TRUST ANNOUNCES SALE OF 1,350,000 SHARES BY EXERCISE OF UNDERWRITERS' OVERALLOTMENT OPTION

 NEWTON, Mass., Feb. 16 /PRNewswire/ -- On Jan. 22, 1993, Health and Rehabilitation Properties Trust (NYSE: HRP) announced the public sale of 9,000,000 Common Shares at a price of $12.75 pershare through a syndicate of underwriters managed by Merrill Lynch & Co., World Financial Center, New York, N.Y. 10281, Donaldson, Lufkin & Jenrette Securities Corporation, 140 Broadway, New York, N.Y. 10005, and Smith Barney, Harris Upham & Co., Incorporated, 1345 Avenue of the Americas, New York, N.Y. 10105.
 In connection with this recent sale of 9 million shares, HRP granted these underwriters an option to acquire additional shares to cover over-allotments. Today, HRP announced that these underwriters have exercised that option to purchase 1,350,000 additional shares. The sale price of these shares will be $12.75/share. The net proceeds to be received by HRP after the allowance for the underwriters discount of 70 cents/share and an adjustment reflecting the dividend of 32 cents/share will be $15,835,000.
 HRP is a real estate investment trust which invests in health care related real estate headquartered in Newton, Mass. At this time HRP has investments of approximately $367 million in 61 properties located in 15 states operated by 17 separate tenants or mortgagors.
 A registration statement, including a Prospectus, relating to these securities has been filed with the Securities and Exchange Commission and has been declared effective. This communication shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state in which such offer, solicitation or sales would be unlawful prior to registration or qualification under the securities laws of any such state. Copies of the prospectus may be obtained from the offices of the managing underwriters named above.
 -0- 2/16/93
 /CONTACT: Mark J. Finkelstein, president or David J. Hegarty, treasurer, 617-332-3990, both of HRPT/
 (HRP)


CO: Health and Rehabilitation Properties Trust ST: Massachusetts IN: SU: OFR

CH -- NE010 -- 6849 02/16/93 11:18 EST
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Publication:PR Newswire
Date:Feb 16, 1993
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