Nationwide Reports First Quarter Results

Apr 18, 2001, 01:00 ET from Nationwide Health Properties, Inc.

    NEWPORT BEACH, Calif., April 18 /PRNewswire/ -- Nationwide Health
 Properties, Inc. (NYSE:   NHP) announced today results of its operations for the
 first quarter of 2001.
     Funds from operations (FFO), the most important measurement of a REIT's
 financial performance was $.51 per diluted share.  The treatment required by
 the Securities and Exchange Commission's Staff Accounting Bulletin number 101
 (SAB 101) reduced additional rent and FFO approximately $666,000, or $.02 per
 share, below what the Company would have historically reported.  This
 additional rent will be recognized during future quarters of 2001.  FFO per
 diluted share for the first quarter of 2000 was $.53 after reducing additional
 rent approximately $395,000, or $.01 per share for the effect of SAB 101.
     Total FFO was $23,739,000 compared to $24,445,000 in 2000.  Revenues for
 the period were $41,679,000 versus $42,421,000 and diluted net income
 available to common stockholders was $13,248,000, or $.29 per share compared
 to $15,619,000, or $.34 per share in the first quarter of 2000.  Included in
 net income for the first quarter of 2000 was a gain on the sale of four
 skilled nursing facilities of $1,016,000, or $.02 per share.
     "Earnings for the quarter were in line with management's and consensus
 expectations exclusive of the SAB 101 adjustment," said R. Bruce Andrews,
 President and Chief Executive Officer.  "The decline from the prior year
 period is primarily the result of approximately $35 million in sales of assets
 to enhance the Company's liquidity."
 
     Nationwide Health Properties, Inc. is a real estate investment trust that
 invests in health care facilities.  The Company has investments in
 324 facilities in 37 states.
 
     Certain matters discussed within this press release may constitute
 "forward-looking statements" within the meaning of the federal securities
 laws.  Although the Company believes the statements are based on reasonable
 assumptions, it can give no assurance that its expectations will be attained.
 Actual results and the timing of certain events could differ materially from
 those projected in or contemplated by the forward-looking statements due to
 risks and uncertainties set forth under the captions "Risk Factors" and
 "Statement Regarding Forward Looking Disclosure" in the Company's annual
 report on Form 10-K for the year ended December 31, 2000.
 
 
                        NATIONWIDE HEALTH PROPERTIES, INC.
                             STATEMENTS OF OPERATIONS
                                  MARCH 31, 2001
                      (IN THOUSANDS EXCEPT PER SHARE AMOUNTS)
 
                                                     Three Months Ended
                                                          March 31,
                                                   2001              2000
                                                         (unaudited)
     Revenues:
        Base rent                                 $32,605           $32,269
        Interest and other income                   5,321             6,335
        Additional rent and additional
         interest                                   3,753 (1)         3,817 (2)
                                                   41,679            42,421
 
     Expenses:
        Interest & amortization of
         deferred financing costs                  14,302            14,560
        Depreciation and non-cash charges          10,491             9,842
        General and administrative                  1,719             1,497
                                                   26,512            25,899
 
     Net income before gain on sale of
      facilities                                   15,167            16,522
     Gain on sale of facilities                        --             1,016
     Net income                                    15,167            17,538
     Preferred stock dividends                     (1,919)           (1,919)
     Net income available to common
      stockholders                                $13,248           $15,619
 
     Depreciation and non-cash charges             10,491             9,842
     Gain on sale of facilities                        --            (1,016)
     Funds From Operations ("FFO")
      available to common stockholders            $23,739           $24,445
 
 
     Per share amounts:
 
     Basic/diluted earnings from
      continuing operations
      available to common stockholders              $0.29             $0.32
 
     Basic/diluted net income available to
      common stockholders                           $0.29             $0.34
 
     Basic/diluted FFO                              $0.51             $0.53
 
     Weighted average shares outstanding           46,235            46,224
 
 
     (1) - This amount reflects a reduction of approximately $666,000 related
           to SAB 101.
     (2) - This amount reflects a reduction of $395,000 related to SAB 101.
 
 
                        NATIONWIDE HEALTH PROPERTIES, INC.
                                   BALANCE SHEETS
 
                                  (IN THOUSANDS)
 
                                                 March 31,        December 31,
     ASSETS                                        2001              2000
                                                (unaudited)
 
     Investments in real estate:
        Real estate properties
           Land                                    $141,437          $142,721
           Buildings and improvements             1,175,300         1,182,410
           Construction in progress                   8,683             8,478
 
                                                  1,325,420         1,333,609
            Less accumulated depreciation          (192,380)         (186,206)
 
                                                  1,133,040         1,147,403
        Mortgage loans receivable, net              185,938           185,623
 
                                                  1,318,978         1,333,026
     Cash and cash equivalents                        9,205             6,149
     Receivables                                      8,137             7,607
     Other assets                                    35,688            34,225
 
                                                 $1,372,008        $1,381,007
 
     LIABILITIES AND STOCKHOLDERS' EQUITY
 
     Bank borrowings                                $74,000           $79,000
     Senior notes due 2001-2038                     622,900           627,900
     Notes and bonds payable                         62,651            62,857
     Accounts payable and accrued
      liabilities                                    57,690            47,778
 
     Stockholders' equity:
        Preferred stock                             100,000           100,000
        Common stock                                  4,624             4,623
        Capital in excess of par value              556,772           556,658
        Cumulative net income                       590,786           575,619
        Cumulative dividends                       (697,415)         (673,428)
 
           Total stockholders' equity               554,767           563,472
 
                                                 $1,372,008        $1,381,007
 
        STATISTICS
 
        Book value per common share                   $9.83            $10.03
        Common shares outstanding                    46,241            46,226
 
 
                         NATIONWIDE HEALTH PROPERTIES, INC.
                          SUPPLEMENTAL ANALYST INFORMATION
                                   MARCH 31, 2001
 
      PORTFOLIO COMPOSITION
 
          EQUITY OWNERSHIP                                 88%
          MORTGAGE LOANS RECEIVABLE                        12%
                                                          100%
 
          ASSISTED LIVING FACILITIES                       44%
          SKILLED NURSING FACILITIES                       41%
          CONTINUING CARE RETIREMENT COMMUNITIES           13%
          OTHER                                             2%
                                                          100%
 
      OWNED FACILITIES
 
                                   FACILITIES         INVESTMENT
 
          ASSISTED LIVING FACILITIES   121    $638,455,000   $67,376 PER UNIT
          SKILLED NURSING FACILITIES   144    $501,712,000   $30,462 PER BED
          CONTINUING CARE RETIREMENT
           COMMUNITIES                   9    $152,428,000   $63,751 PER BED/
                                                                         UNIT
          REHABILITATION HOSPITALS       2     $16,826,000  $145,052 PER BED
 
 
      MORTGAGE LOANS RECEIVABLE
 
                                    FACILITIES         INVESTMENT
 
          SKILLED NURSING FACILITIES    36    $117,941,000   $25,723 PER BED
          ASSISTED LIVING FACILITIES     7     $22,536,000   $39,125 PER UNIT
          CONTINUING CARE RETIREMENT
           COMMUNITIES                   4     $40,763,000   $38,132 PER BED/
                                                                         UNIT
 
      INVESTMENT BY OPERATOR
                                     NUMBER                  PERCENT    PERCENT
                                       OF      INVESTMENT      OF         OF
                                   FACILITIES    AMOUNT    INVESTMENT  REVENUES
 
          ALTERRA HEALTHCARE
           CORPORATION*                 54     $192,686,000      13%       12%
          AMERICAN RETIREMENT
           CORPORATION*                 12      136,808,000       9%        8%
          BEVERLY ENTERPRISES, INC.*    32      102,746,000       7%        9%
          ARV ASSISTED LIVING, INC.*    16      102,518,000       7%        9%
          LIBERTY HEALTHCARE            17       83,583,000       6%        5%
          LAUREATE GROUP                 4       69,702,000       5%        4%
          EPOCH SENIOR LIVING, INC.      8       69,684,000       5%        5%
          MARINER POST-ACUTE NETWORK*   21       67,851,000       5%        6%
          SENIOR SERVICES OF AMERICA    10       66,953,000       4%        4%
          LIFE CARE CENTERS OF AMERICA,
           INC.                          7       54,048,000       4%        3%
          NATIONAL ASSISTED LIVING LP    8       51,836,000       3%        3%
          SUN HEALTHCARE GROUP, INC.*   15       50,349,000       3%        4%
          INTEGRATED HEALTH SERVICES*   11       45,808,000       3%        3%
          AMERICAN HEALTH CENTERS       12       41,559,000       3%        3%
          NEW MILLENNIUM CARE            3       31,772,000       2%        2%
          AMERICAN SENIOR LIVING         6       27,886,000       2%        2%
          THE NEWTON GROUP, LLC          2       19,971,000       1%        1%
          HARBORSIDE HEALTHCARE
           CORPORATION*                  4       19,592,000       1%        1%
          HEALTHSOUTH CORP.*             2       16,826,000       1%        1%
          HEALTHPRIME                    7       16,011,000       1%        1%
          OTHER - PUBLIC COMPANIES       9       22,602,000       1%        1%
          OTHER                         64      210,884,000      14%       13%
                                       324   $1,501,675,000     100%      100%
          * PUBLIC COMPANY
 
 
     SAME STORE
     ADDITIONAL RENT/
     ADDITIONAL INTEREST     1ST           2ND            3RD        4TH
                             QTR           QTR            QTR        QTR
     1997                 $2,913,000   $2,961,000    $3,244,000   $3,179,000
     1998                 $3,352,000   $3,762,000    $3,751,000   $3,558,000
     1999                 $3,931,000   $3,698,000    $4,107,000   $4,128,000
     2000 (1)             $3,817,000   $4,469,000    $4,377,000   $4,547,000
     2001 (2)             $3,741,000
 
     (1) - The additional rent for 2000 has been adjusted for SAB 101 as
           follows:  1st quarter was reduced by $395,000, 2nd quarter was
           increased by $253,000, 3rd quarter was increased by $166,000 and 4th
           quarter was reduced by $24,000.
 
     (2) - The additional rent for 2001 has been adjusted for SAB 101 as
           follows: 1st quarter was reduced by $666,000.
 
 
     TOTAL RENT COVERAGE
         ASSISTED LIVING FACILITIES                      1.72
         SKILLED NURSING FACILITIES                      1.52
         CONTINUING CARE RETIREMENT COMMUNITIES          1.70
         REHABILITATION HOSPITALS                        3.20
 
     OCCUPANCY
         ASSISTED LIVING FACILITIES                       91%
         SKILLED NURSING FACILITIES                       87%
         CONTINUING CARE RETIREMENT COMMUNITIES           92%
         REHABILITATION HOSPITALS                         70%
 
     PERCENT PRIVATE PAY AND MEDICARE
         ASSISTED LIVING FACILITIES                      100%
         SKILLED NURSING FACILITIES                       29%
         REHABILITATION HOSPITALS                         94%
 
     SECURITY DEPOSITS
         BANK LETTERS OF CREDIT                   $24,391,000
         CASH DEPOSITS                            $20,668,000
         DISCOUNTS ON MORTGAGE LOANS               $1,620,000
 
     CURRENT CAPITALIZATION
         REVOLVING BANK LINE OF CREDIT            $74,000,000             5%
         SENIOR DEBT                             $685,551,000            45%
         EQUITY (UNDEPRECIATED BOOK BASIS)       $747,147,000            50%
 
     LONG-TERM DEBT MATURITIES
 
     YEAR                        AMOUNT
 
     Q2 2001                          $--
     Q3 2001                   40,150,000
     Q4 2001                   18,000,000
     Q1 2002                   15,000,000
     Q2 2002                   10,000,000
     Q3 2002                   25,000,000
     Q4 2002                           --
     2003                      66,000,000
     2004                      67,750,000
     2005                      18,000,000
     2006                      63,500,000
     2007                      85,000,000
     2008                      25,000,000
     2009                      50,000,000
     THEREAFTER               139,500,000
                             $622,900,000
 
 
     LEASE EXPIRATIONS
                                MINIMUM               NUMBER OF
     YEAR                         RENT                FACILITIES
 
     2001                      $2,441,000                  5
     2002                       2,980,000                  5
     2003                         481,000                  1
     2004                       5,329,000                 21
     2005                      10,997,000                 22
     2006                      13,032,000                 32
     2007                       8,580,000                 12
     2008                       1,953,000                  5
     2009                      18,460,000                 47
     2010                      18,550,000                 47
     THEREAFTER                48,824,000                 77
                             $131,627,000                274
 
 
     MORTGAGE LOAN RECEIVABLE PRINCIPAL PAYMENTS
 
                               PRINCIPAL                NUMBER
     YEAR                       PAYMENTS            OF FACILITIES
 
     2001                      $7,274,000                  2
     2002                       2,780,000                 --
     2003                       7,366,000                  3
     2004                       7,287,000                 --
     2005                       6,141,000                  5
     2006                      11,744,000                  4
     2007                      14,054,000                  3
     2008                       9,530,000                  3
     2009                      26,878,000                  4
     2010                       2,855,000                 --
     THEREAFTER                95,095,000                 23
                             $191,004,000                 47
 
 
 

SOURCE Nationwide Health Properties, Inc.
    NEWPORT BEACH, Calif., April 18 /PRNewswire/ -- Nationwide Health
 Properties, Inc. (NYSE:   NHP) announced today results of its operations for the
 first quarter of 2001.
     Funds from operations (FFO), the most important measurement of a REIT's
 financial performance was $.51 per diluted share.  The treatment required by
 the Securities and Exchange Commission's Staff Accounting Bulletin number 101
 (SAB 101) reduced additional rent and FFO approximately $666,000, or $.02 per
 share, below what the Company would have historically reported.  This
 additional rent will be recognized during future quarters of 2001.  FFO per
 diluted share for the first quarter of 2000 was $.53 after reducing additional
 rent approximately $395,000, or $.01 per share for the effect of SAB 101.
     Total FFO was $23,739,000 compared to $24,445,000 in 2000.  Revenues for
 the period were $41,679,000 versus $42,421,000 and diluted net income
 available to common stockholders was $13,248,000, or $.29 per share compared
 to $15,619,000, or $.34 per share in the first quarter of 2000.  Included in
 net income for the first quarter of 2000 was a gain on the sale of four
 skilled nursing facilities of $1,016,000, or $.02 per share.
     "Earnings for the quarter were in line with management's and consensus
 expectations exclusive of the SAB 101 adjustment," said R. Bruce Andrews,
 President and Chief Executive Officer.  "The decline from the prior year
 period is primarily the result of approximately $35 million in sales of assets
 to enhance the Company's liquidity."
 
     Nationwide Health Properties, Inc. is a real estate investment trust that
 invests in health care facilities.  The Company has investments in
 324 facilities in 37 states.
 
     Certain matters discussed within this press release may constitute
 "forward-looking statements" within the meaning of the federal securities
 laws.  Although the Company believes the statements are based on reasonable
 assumptions, it can give no assurance that its expectations will be attained.
 Actual results and the timing of certain events could differ materially from
 those projected in or contemplated by the forward-looking statements due to
 risks and uncertainties set forth under the captions "Risk Factors" and
 "Statement Regarding Forward Looking Disclosure" in the Company's annual
 report on Form 10-K for the year ended December 31, 2000.
 
 
                        NATIONWIDE HEALTH PROPERTIES, INC.
                             STATEMENTS OF OPERATIONS
                                  MARCH 31, 2001
                      (IN THOUSANDS EXCEPT PER SHARE AMOUNTS)
 
                                                     Three Months Ended
                                                          March 31,
                                                   2001              2000
                                                         (unaudited)
     Revenues:
        Base rent                                 $32,605           $32,269
        Interest and other income                   5,321             6,335
        Additional rent and additional
         interest                                   3,753 (1)         3,817 (2)
                                                   41,679            42,421
 
     Expenses:
        Interest & amortization of
         deferred financing costs                  14,302            14,560
        Depreciation and non-cash charges          10,491             9,842
        General and administrative                  1,719             1,497
                                                   26,512            25,899
 
     Net income before gain on sale of
      facilities                                   15,167            16,522
     Gain on sale of facilities                        --             1,016
     Net income                                    15,167            17,538
     Preferred stock dividends                     (1,919)           (1,919)
     Net income available to common
      stockholders                                $13,248           $15,619
 
     Depreciation and non-cash charges             10,491             9,842
     Gain on sale of facilities                        --            (1,016)
     Funds From Operations ("FFO")
      available to common stockholders            $23,739           $24,445
 
 
     Per share amounts:
 
     Basic/diluted earnings from
      continuing operations
      available to common stockholders              $0.29             $0.32
 
     Basic/diluted net income available to
      common stockholders                           $0.29             $0.34
 
     Basic/diluted FFO                              $0.51             $0.53
 
     Weighted average shares outstanding           46,235            46,224
 
 
     (1) - This amount reflects a reduction of approximately $666,000 related
           to SAB 101.
     (2) - This amount reflects a reduction of $395,000 related to SAB 101.
 
 
                        NATIONWIDE HEALTH PROPERTIES, INC.
                                   BALANCE SHEETS
 
                                  (IN THOUSANDS)
 
                                                 March 31,        December 31,
     ASSETS                                        2001              2000
                                                (unaudited)
 
     Investments in real estate:
        Real estate properties
           Land                                    $141,437          $142,721
           Buildings and improvements             1,175,300         1,182,410
           Construction in progress                   8,683             8,478
 
                                                  1,325,420         1,333,609
            Less accumulated depreciation          (192,380)         (186,206)
 
                                                  1,133,040         1,147,403
        Mortgage loans receivable, net              185,938           185,623
 
                                                  1,318,978         1,333,026
     Cash and cash equivalents                        9,205             6,149
     Receivables                                      8,137             7,607
     Other assets                                    35,688            34,225
 
                                                 $1,372,008        $1,381,007
 
     LIABILITIES AND STOCKHOLDERS' EQUITY
 
     Bank borrowings                                $74,000           $79,000
     Senior notes due 2001-2038                     622,900           627,900
     Notes and bonds payable                         62,651            62,857
     Accounts payable and accrued
      liabilities                                    57,690            47,778
 
     Stockholders' equity:
        Preferred stock                             100,000           100,000
        Common stock                                  4,624             4,623
        Capital in excess of par value              556,772           556,658
        Cumulative net income                       590,786           575,619
        Cumulative dividends                       (697,415)         (673,428)
 
           Total stockholders' equity               554,767           563,472
 
                                                 $1,372,008        $1,381,007
 
        STATISTICS
 
        Book value per common share                   $9.83            $10.03
        Common shares outstanding                    46,241            46,226
 
 
                         NATIONWIDE HEALTH PROPERTIES, INC.
                          SUPPLEMENTAL ANALYST INFORMATION
                                   MARCH 31, 2001
 
      PORTFOLIO COMPOSITION
 
          EQUITY OWNERSHIP                                 88%
          MORTGAGE LOANS RECEIVABLE                        12%
                                                          100%
 
          ASSISTED LIVING FACILITIES                       44%
          SKILLED NURSING FACILITIES                       41%
          CONTINUING CARE RETIREMENT COMMUNITIES           13%
          OTHER                                             2%
                                                          100%
 
      OWNED FACILITIES
 
                                   FACILITIES         INVESTMENT
 
          ASSISTED LIVING FACILITIES   121    $638,455,000   $67,376 PER UNIT
          SKILLED NURSING FACILITIES   144    $501,712,000   $30,462 PER BED
          CONTINUING CARE RETIREMENT
           COMMUNITIES                   9    $152,428,000   $63,751 PER BED/
                                                                         UNIT
          REHABILITATION HOSPITALS       2     $16,826,000  $145,052 PER BED
 
 
      MORTGAGE LOANS RECEIVABLE
 
                                    FACILITIES         INVESTMENT
 
          SKILLED NURSING FACILITIES    36    $117,941,000   $25,723 PER BED
          ASSISTED LIVING FACILITIES     7     $22,536,000   $39,125 PER UNIT
          CONTINUING CARE RETIREMENT
           COMMUNITIES                   4     $40,763,000   $38,132 PER BED/
                                                                         UNIT
 
      INVESTMENT BY OPERATOR
                                     NUMBER                  PERCENT    PERCENT
                                       OF      INVESTMENT      OF         OF
                                   FACILITIES    AMOUNT    INVESTMENT  REVENUES
 
          ALTERRA HEALTHCARE
           CORPORATION*                 54     $192,686,000      13%       12%
          AMERICAN RETIREMENT
           CORPORATION*                 12      136,808,000       9%        8%
          BEVERLY ENTERPRISES, INC.*    32      102,746,000       7%        9%
          ARV ASSISTED LIVING, INC.*    16      102,518,000       7%        9%
          LIBERTY HEALTHCARE            17       83,583,000       6%        5%
          LAUREATE GROUP                 4       69,702,000       5%        4%
          EPOCH SENIOR LIVING, INC.      8       69,684,000       5%        5%
          MARINER POST-ACUTE NETWORK*   21       67,851,000       5%        6%
          SENIOR SERVICES OF AMERICA    10       66,953,000       4%        4%
          LIFE CARE CENTERS OF AMERICA,
           INC.                          7       54,048,000       4%        3%
          NATIONAL ASSISTED LIVING LP    8       51,836,000       3%        3%
          SUN HEALTHCARE GROUP, INC.*   15       50,349,000       3%        4%
          INTEGRATED HEALTH SERVICES*   11       45,808,000       3%        3%
          AMERICAN HEALTH CENTERS       12       41,559,000       3%        3%
          NEW MILLENNIUM CARE            3       31,772,000       2%        2%
          AMERICAN SENIOR LIVING         6       27,886,000       2%        2%
          THE NEWTON GROUP, LLC          2       19,971,000       1%        1%
          HARBORSIDE HEALTHCARE
           CORPORATION*                  4       19,592,000       1%        1%
          HEALTHSOUTH CORP.*             2       16,826,000       1%        1%
          HEALTHPRIME                    7       16,011,000       1%        1%
          OTHER - PUBLIC COMPANIES       9       22,602,000       1%        1%
          OTHER                         64      210,884,000      14%       13%
                                       324   $1,501,675,000     100%      100%
          * PUBLIC COMPANY
 
 
     SAME STORE
     ADDITIONAL RENT/
     ADDITIONAL INTEREST     1ST           2ND            3RD        4TH
                             QTR           QTR            QTR        QTR
     1997                 $2,913,000   $2,961,000    $3,244,000   $3,179,000
     1998                 $3,352,000   $3,762,000    $3,751,000   $3,558,000
     1999                 $3,931,000   $3,698,000    $4,107,000   $4,128,000
     2000 (1)             $3,817,000   $4,469,000    $4,377,000   $4,547,000
     2001 (2)             $3,741,000
 
     (1) - The additional rent for 2000 has been adjusted for SAB 101 as
           follows:  1st quarter was reduced by $395,000, 2nd quarter was
           increased by $253,000, 3rd quarter was increased by $166,000 and 4th
           quarter was reduced by $24,000.
 
     (2) - The additional rent for 2001 has been adjusted for SAB 101 as
           follows: 1st quarter was reduced by $666,000.
 
 
     TOTAL RENT COVERAGE
         ASSISTED LIVING FACILITIES                      1.72
         SKILLED NURSING FACILITIES                      1.52
         CONTINUING CARE RETIREMENT COMMUNITIES          1.70
         REHABILITATION HOSPITALS                        3.20
 
     OCCUPANCY
         ASSISTED LIVING FACILITIES                       91%
         SKILLED NURSING FACILITIES                       87%
         CONTINUING CARE RETIREMENT COMMUNITIES           92%
         REHABILITATION HOSPITALS                         70%
 
     PERCENT PRIVATE PAY AND MEDICARE
         ASSISTED LIVING FACILITIES                      100%
         SKILLED NURSING FACILITIES                       29%
         REHABILITATION HOSPITALS                         94%
 
     SECURITY DEPOSITS
         BANK LETTERS OF CREDIT                   $24,391,000
         CASH DEPOSITS                            $20,668,000
         DISCOUNTS ON MORTGAGE LOANS               $1,620,000
 
     CURRENT CAPITALIZATION
         REVOLVING BANK LINE OF CREDIT            $74,000,000             5%
         SENIOR DEBT                             $685,551,000            45%
         EQUITY (UNDEPRECIATED BOOK BASIS)       $747,147,000            50%
 
     LONG-TERM DEBT MATURITIES
 
     YEAR                        AMOUNT
 
     Q2 2001                          $--
     Q3 2001                   40,150,000
     Q4 2001                   18,000,000
     Q1 2002                   15,000,000
     Q2 2002                   10,000,000
     Q3 2002                   25,000,000
     Q4 2002                           --
     2003                      66,000,000
     2004                      67,750,000
     2005                      18,000,000
     2006                      63,500,000
     2007                      85,000,000
     2008                      25,000,000
     2009                      50,000,000
     THEREAFTER               139,500,000
                             $622,900,000
 
 
     LEASE EXPIRATIONS
                                MINIMUM               NUMBER OF
     YEAR                         RENT                FACILITIES
 
     2001                      $2,441,000                  5
     2002                       2,980,000                  5
     2003                         481,000                  1
     2004                       5,329,000                 21
     2005                      10,997,000                 22
     2006                      13,032,000                 32
     2007                       8,580,000                 12
     2008                       1,953,000                  5
     2009                      18,460,000                 47
     2010                      18,550,000                 47
     THEREAFTER                48,824,000                 77
                             $131,627,000                274
 
 
     MORTGAGE LOAN RECEIVABLE PRINCIPAL PAYMENTS
 
                               PRINCIPAL                NUMBER
     YEAR                       PAYMENTS            OF FACILITIES
 
     2001                      $7,274,000                  2
     2002                       2,780,000                 --
     2003                       7,366,000                  3
     2004                       7,287,000                 --
     2005                       6,141,000                  5
     2006                      11,744,000                  4
     2007                      14,054,000                  3
     2008                       9,530,000                  3
     2009                      26,878,000                  4
     2010                       2,855,000                 --
     THEREAFTER                95,095,000                 23
                             $191,004,000                 47
 
 
 SOURCE  Nationwide Health Properties, Inc.