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HCP Closes $1.472 Billion Equity Offering

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^{Published in Business and Finance on Monday, December 20th 2010 at 13:15 GMT by Market Wire}  

LONG BEACH, Calif.--([ BUSINESS WIRE ])--HCP (NYSE:HCP) announced that it has successfully completed its $1.472 billion public offering of 46 million shares of common stock at a price per share of $32.00, which includes 6 million shares sold to the underwriters upon exercise of their option to purchase additional shares. HCP anticipates that the net proceeds of this offering will be used, together with future debt offerings, cash on hand, and the reinvestment of proceeds from the repayment of HCP's existing HCR ManorCare debt investments, to finance the previously announced $6.1 billion acquisition of substantially all of the post-acute, skilled nursing and assisted living facilities of HCR ManorCare. Additional details related to this offering, including HCPa™s use of proceeds, may be found in the prospectus supplement filed with the SEC on December 16, 2010.

About HCP

HCP, Inc., an S&P 500 company, is a real estate investment trust (REIT) that, together with its consolidated subsidiaries, invests primarily in real estate serving the healthcare industry in the United States. As of September 30, 2010, HCPa™s portfolio of investments, including properties owned by its unconsolidated joint ventures, consisted of: (i) interests in 670 properties among the following segments: 250 senior housing, 102 life science, 252 medical office, 45 skilled nursing and 21 hospital; and (ii) $2.0 billion of mezzanine and other secured loans.