June 5, 2017 / 10:51 AM / 2 months ago

BRIEF-Quality Care Properties provides update on HCR ManorCare agreement

June 5 (Reuters) - Quality Care Properties Inc

* Quality care properties - on june 2, co received $15 million from hcr manorcare rather than full $32 million in rent required to be paid on june 1 under terms of forbearance agreement

* Quality care properties - hcr manorcare informed co amount of rent paid corresponds to amount it believed to be appropriate to pay at this time - sec filing

* Quality care properties - has not yet had opportunity to form its own view with respect to recent financial information provided by hcr manorcare

* Quality care properties inc - continues to be in discussions with hcr manorcare about its lease default and a potential out-of-court restructuring

* Quality care properties inc - believes that an out-of-court restructuring will require a substantial reduction in hcr manorcare's liabilities

* Quality care properties - as part of discussions, co is considering all alternatives, including full equity ownership of hcr manorcare

* Quality care properties - if equity ownership of hcr manorcare is completed, it is likely to result in co no longer retaining its reit status

* Quality care properties - if equity ownership of hcr manorcare is completed, co expects to restructure hcr manorcare's operations to create a sustainable business model Source text for Eikon: Further company coverage:

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