Health Care REIT Inc., (HCN - Analyst Report) a real estate investment trust (REIT), has recently been accredited with a LEED (Leadership in Energy and Environmental Design) Silver certificate in recognition of its continued commitment for innovative, sustainable building design principles and energy management solutions as an integral part of its corporate strategy.
Health Care REIT received the award for the Tallahassee Memorial Cancer Center in Florida. Housed in a 50,000 square foot two-story building on a nearly five-acre site, the facility is owned by Health Care REIT and operated by Tallahassee Memorial HealthCare.
Established by the U.S. Green Building Council, LEED is an internationally recognized third-party green building certification system, which ensures that a building is designed and built for environment-compatibility, providing a healthy work environment and reducing operating costs. The projects are judged on six parameters, including Sustainable Sites, Water Efficiency, Energy & Atmosphere, Materials & Resources, Indoor Environmental Quality, and Innovation in Design.
The number of points earned by a project determines the level of LEED Certification it receives, which is currently available in four progressive levels – Certified: 26 - 32 points; Silver: 33 - 38 points; Gold: 39 - 51 points; and Platinum: 52 - 69 points.
The LEED Silver certification for the Florida facility is based on a number of green design and construction features, including nearly 50% reduction in potable water for landscaping; 40% water savings using low-flow fixtures; utilization of construction materials with over 25% recycled content; and about 20% cost savings on overall energy.
The LEED accreditation for the project demonstrates Health Care REIT’s industry-leading capabilities and adds significant value in its quest to provide a healing and supportive environment for cancer patients and their families.
Health Care REIT Inc. invests across the full spectrum of senior housing and health care real estate properties. Headquartered in Toledo, Ohio, the company also provides an extensive array of property management and development services.
Founded in 1970, the company was the first REIT to invest exclusively in healthcare facilities. Health Care REIT provides senior housing operators and health care systems with a single source for facility planning, design and turn-key development, property management, and monetization or expansion of existing real estate.
We maintain our Neutral rating on Health Care REIT. The company currently has a Zacks #3 Rank, which translates into a short-term ‘Hold’ recommendation and indicates that the stock is expected to perform in line with the overall U.S. equity market for the next 1–3 months. We also have a Neutral recommendation and a Zacks #3 Rank for HCP Inc. (HCP - Analyst Report), a competitor of Health Care REIT.