Health Care REIT completes acquisition with Chartwell Seniors Housing REIT

Health Care REIT, Inc. (NYSE:HCN) announced today that it has completed the acquisition with Chartwell Seniors Housing REIT (TSX:CSH.UN) of 42 seniors housing and care communities in attractive Canadian markets, which was previously announced on February 15, 2012. Thirty-nine of the properties are owned 50% each by the company and Chartwell. The company wholly owns the remaining three properties. Chartwell will manage the communities under an incentive-based management contract. The portfolio, comprised primarily of independent living residences, closed on May 1^st. Based on the USD to CAD exchange rate of .9879 on April 30^th, the purchase price was USD $936.5 million. The company's share of the purchase price was USD $509.5 million.

“It establishes the company's presence in Canada's largest and most attractive markets with a portfolio of high-quality private pay facilities.”

"This investment with Canada's leading seniors housing operator expands Health Care REIT's successful U.S. investment strategy into Canada," said George L. Chapman, Chairman, Chief Executive Officer and President of Health Care REIT. "It establishes the company's presence in Canada's largest and most attractive markets with a portfolio of high-quality private pay facilities."