Health Care Property REIT Plan Gets OK

Health Care Property Investors Inc. said its proposed acquisition of American Health Properties Inc. for about $700 million in stock has been approved by stockholders of both companies.

The acquisition, which is expected to be completed later this week, would create the largest real estate investment trust focused solely on health care properties.

The combined company will have about $325 million in annual revenue from more than 700 health care tenants and operators. Newport Beach-based Health Care Property Investors will own interests in 424 health care properties in 43 states after the deal is completed.