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INDUSTRY NOTES

Health Care Property Buys 3 Nursing Homes

September 10, 1987

Health Care Property Investors Inc. said it has acquired three nursing homes with a total of 436 beds for $20 million from Genesis Health Ventures Inc. of Kennett Square, Pa.

HCPI has leased the properties back to Genesis under a long-term contract, which is similar to agreements HCPI has with other companies that operate its hospitals and health-care facilities. The Costa Mesa-based real estate investment trust now has 99 properties with 12,300 beds in 27 states.

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