Health Care Property Investors Inc. said Monday that it has acquired 11 long-term-care facilities and has entered into commitments to purchase nine others for a total of $63 million.
The Costa Mesa real estate investment trust, which specializes in health care facilities, said the properties were acquired from U.S. Care Corp. of Marion, Ind., and Care Inns of Memphis.
With these purchases, Health Care Property Investors will own 70 properties valued at more than $266 million.
Kenneth B. Roath, president, said continued acquisitions of long-term-care facilities will continue to be the company's "primary area of expansion."
In the second quarter, the company reported net income of $3.4 million and revenue of $6.4 million.