HCP to Spin Off HCR ManorCare Portfolio

Skadden is representing HCP, Inc. in the spin-off of its HCR ManorCare portfolio of skilled nursing and assisted living assets (a portfolio valued at approximately $5.1 billion by HCP), as well as other skilled nursing assets, into an independent, publicly traded REIT. HCP is an S&P 500 company with total assets of over $21 billion.