Longtime CEO who led significant growth is succeeded by board member
By John B. Mugford
While Health Care REIT Inc. (NYSE: HCN) has been a big owner of real estate for four decades, it has bulked up its portfolio in the past five years like never before.
Steering the way has been CEO George L. Chapman, the firm’s leader for 18 years.
“During the last five years, we have grown our platform by $20 billion of high-quality investments, while at the same time disposing of $2 billion of non-core assets,” Mr. Chapman told analysts during a February earnings conference call with financial analysts.
As the result of a steady acquisitions program as well as the closing of a number of headline-grabbing, blockbuster senior housing deals, the company has grown its portfolio to $25 billion of properties in the United States, Canada and the United Kingdom.
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