CHEVY CHASE, Md., July 15 /PRNewswire-FirstCall/ -- CapitalSource Inc.
(NYSE: CSE) announced today that it intends for its wholly owned subsidiary,
CapitalSource Healthcare REIT, to file a registration statement on Form S-11
with the Securities and Exchange Commission within the next 30 days for the
initial public offering of CapitalSource Healthcare REIT's common shares. The
initial public offering of common shares in CapitalSource Healthcare REIT is
expected to raise at least $300 million for CapitalSource.
CapitalSource Healthcare REIT is a carve-out of CapitalSource's healthcare
net lease segment and will be managed by CapitalSource. Following the IPO,
CapitalSource will continue to own the majority of CapitalSource Healthcare
REIT.
CapitalSource Healthcare REIT will invest in income producing
healthcare-related facilities, principally long-term skilled nursing
facilities, through triple-net lease structures. James J. Pieczynski will
serve as President and Chief Executive Officer of CapitalSource Healthcare
REIT. Mr. Pieczynski has served as the Co-President of the Healthcare and
Specialty Finance Business at CapitalSource since January 2006. Prior to
assuming his current role he held several other positions at the Company
relating to healthcare real estate. Prior to joining CapitalSource in 2001,
Mr. Pieczynski was employed by LTC Properties, a publicly traded healthcare
REIT, where he held a variety of positions, including President, Chief
Financial Officer and Chief Strategic Planning Officer.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any securities.
About CapitalSource
CapitalSource (NYSE: CSE) is a leading commercial lending, investment and
asset management business focused on the middle market. CapitalSource manages
an asset portfolio, which as of March 31, 2008 was approximately $19.85
billion. Headquartered in Chevy Chase, Maryland, the Company had 535 employees
as of March 31, 2008 in offices across the U.S. and in Europe. For more
information, visit http://www.capitalsource.com .
Forward Looking Statements
This release contains 'forward-looking statements' within the meaning of
the Private Securities Litigation Reform Act of 1995. All statements contained
in this release that are not clearly historical in nature are forward-looking,
and the words 'intends,' 'will,' 'expects,' 'plans,' and similar expressions
are generally intended to identify forward-looking statements. These
forward-looking statements include, but are not limited to our plan to
commence an initial public offering of common shares in CapitalSource
Healthcare REIT. All forward-looking statements included in this news release
are based on information available at the time of the release. We are under no
obligation to (and expressly disclaim any such obligation to) update or alter
our forward-looking statements, whether as a result of new information, future
events or otherwise.
SOURCE CapitalSource Inc.
