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HCP to Spin Off HCR ManorCare Into Publicly Traded REIT

As reported in The Wall Street Journal, Reuters and other media outlets, Paul, Weiss client HCP announced that its board of directors has unanimously approved a plan to spin off its HCR ManorCare portfolio of skilled nursing and assisted living assets into an independent, publicly traded REIT. Following the completion of the spin-off, HCP's diversified portfolio is expected to consist of more than 860 properties, generating annual portfolio income of approximately $1.4 billion.

The Paul, Weiss team included corporate partners Robert Schumer and Ariel Deckelbaum and counsel Nathan Sawyer; employee benefits partner Lawrence Witdorchic and counsel Reuven Falik; tax partner Scott Sontag; real estate partners Harris Freidus and Salvatore Gogliormella; litigation partner Daniel Kramer; and bankruptcy partner Jeffrey Saferstein and counsel Diane Meyers.

May 9, 2016

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