What was the total value of Health Care REIT's real estate investments at the end of 2007?

At December 31, 2007, Health Care REIT, Inc. had $5,020,026,000 in real estate investments across 638 properties located in 38 states.

What were the most significant strategic transactions completed by the company in 2007?

The most significant transactions in 2007 included the acquisition of 17 medical office buildings and the property management company Paramount Real Estate Services from affiliates of Rendina Companies. Additionally, the company completed a public offering of common stock and issued $400 million in convertible senior unsecured notes.

How did the company's revenue change in 2007 compared to 2006?

Total revenues increased by 55% from $313.4 million in 2006 to $486.0 million in 2007. This growth was primarily driven by an increase in rental income, fueled by new property acquisitions and the full year impact of the Windrose merger.

What is the company's approach to managing its portfolio and mitigating risks?

Health Care REIT, Inc. diversifies its portfolio by property type, operator/tenant, and geographic location. The company actively monitors its investments through monthly financial statement reviews, periodic creditworthiness assessments, property inspections, and covenant compliance checks. Investments are typically credit-enhanced by guaranties and/or letters of credit, and leases are often structured as master leases, with loans generally cross-defaulted and cross-collateralized to mitigate payment risk.

WELL 10-K FY2007 Annual Report — Revenue, Net Income, EPS

Summary

Health Care REIT, Inc. (now Welltower Inc.) reported a robust year of growth and strategic acquisitions ending December 31, 2007. The company's portfolio expanded significantly, reaching $5.02 billion across 638 properties in 38 states. Key transactions included the merger with Windrose Medical Properties Trust and the acquisition of 17 medical office buildings from Rendina Companies, enhancing its diversified healthcare real estate portfolio. Financially, the company demonstrated strong performance, with revenues increasing significantly year-over-year, driven by rental and interest income. The company maintained a conservative leverage profile, with a debt-to-book capitalization ratio of 53% and an interest coverage ratio of 2.91x. Health Care REIT also actively managed its capital structure by issuing new debt and equity, including a $400 million convertible senior unsecured notes offering, to support its investment strategy and operational needs. The company also continued its commitment to shareholder returns by increasing its quarterly dividend.

Key Highlights

1Portfolio grew to $5.02 billion across 638 properties in 38 states by year-end 2007.
2Completed the merger with Windrose Medical Properties Trust in December 2006 and the Rendina/Paramount acquisition in May 2007, expanding its medical office building and property management segments.
3Reported a 55% year-over-year increase in total revenues, reaching $486 million, primarily driven by rental income from new acquisitions.
4Maintained a debt-to-book capitalization ratio of 53% and an interest coverage ratio of 2.91x.
5Successfully raised capital through a $400 million convertible senior unsecured notes offering and common stock issuances to fund growth.
6Increased quarterly dividend to $0.66 per share, marking the 147th consecutive dividend payment.
7The company's investments were diversified across property types, including skilled nursing facilities (32%), medical office buildings (25%), assisted living facilities (21%), and independent living/CCRCs (15%).

WELLTOWER INC. Annual Report, Year Ended Dec 31, 2007

Summary

Key Highlights

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