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Real Estate Investment Trust HCPI
LONG BEACH, Calif.–HCP announced that the United States District Court for the Eastern District of Virginia granted cross motions for summary judgment dismissing all claims and counterclaims in a case between HCP and Sunrise Senior Living Management, Inc. HCP sought, among other things, termination of Sunrise as manager of four HCP-owned properties.
HCP will evaluate the decision and determine if an appeal is appropriate when the Court issues its written opinion. Claims against Sunrise regarding 60 additional properties remain pending in a separate suit in Delaware.
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 March 31, 2010, HCP’s portfolio of investments, including properties owned by its unconsolidated joint ventures, consisted of: (i) interests in 677 properties among the following segments: 257 senior housing, 100 life science, 251 medical office, 21 hospital and 48 skilled nursing; and (ii) $1.9 billion of mezzanine and other secured loans. For more information, visit the Company’s website at www.hcpi.com.
Source: HCP, Inc.
This is a blog post for Real Estate Professionals, Investors, Landlord, Property Manager, and Property Management Companies. Court Dismisses Claims in Virginia Sunrise Litigation is brought to you by SimplifyEm Pay Rent Online and Property Management SoftwareYou might also want to read:
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