HCP Closes $441 Million Equity Offering

LONG BEACH, CA. August 10, 2009 - HCP (NYSE:HCP) announced that it has successfully completed its $441 million public offering of 17.8 million shares of common stock at a price per share of $24.75, which includes 2.3 million shares sold to the underwriters upon exercise of their option to purchase additional shares. HCP will use the proceeds to repay all borrowings under HCP's revolving credit facility, including borrowings for the recently announced participation in first mortgage debt of HCR ManorCare, with the remainder to be used for general corporate purposes.

Source: Company website