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Dr. Jeffrey Rush and Richard Gilchrist Join NHP Board of Directors

2008-08-04 15:39:00

Dr. Jeffrey Rush and Richard Gilchrist Join NHP Board of Directors

    NEWPORT BEACH, Calif., Aug. 4 /EMWNews/ -- Nationwide

Health Properties, Inc. (NYSE: NHP) announced today the appointment of Dr.

Jeffrey L. Rush and Richard I. Gilchrist to its Board of Directors. "Jeff

and Rick are remarkably accomplished leaders who bring valuable experience

to NHP," said Charles D. Miller, NHP's Chairman of the Board. "We look

forward to their contributions and their commitment to helping NHP maintain

its reputation for delivering excellent shareholder value."

    Dr. Jeffrey Rush is a 20-year veteran of medical office building

acquisition and development. He is the Chairman of Pacific Medical

Buildings LLC, a developer, owner and manager of medical office buildings

in the western United States. Dr. Rush was a practicing board-certified

radiologist for 25 years. He served as Chairman of Radiology at Alvarado

Hospital, San Diego, California, founder of Mobile MRI Inc., and a member

of the Physicians Advisory Board of National Medical Enterprises. He is

currently active in numerous medically-related, bio-tech, pharmaceutical,

and real estate ventures. "In addition to his wealth of medical and real

estate experience, Jeff brings to our Board preeminent credibility in the

medical office sector which will be invaluable to NHP as we grow our

medical office building portfolio," said Douglas M. Pasquale, NHP's

President and CEO.

    Richard Gilchrist serves as President of The Irvine Company's

Investment Properties Group. Mr. Gilchrist has served as chief executive

and founder of several major public and private REITs and real estate

operating companies with investments throughout the United States. In his

current role, Mr. Gilchrist guides all aspects of The Irvine Company's

office, retail, resort and apartment properties in Southern California and

Silicon Valley, including development, marketing and management. The Irvine

Company is a 140-year old privately held company known throughout the world

as a best-of-class master planner and long-term owner, investor and

operator of a large and diversified real estate portfolio. Prior to joining

The Irvine Company, Mr. Gilchrist served as President and Co-Chief

Executive of Maguire Properties, Inc. in Los Angeles. At Maguire

Properties, he oversaw significant growth in the company's portfolio, both

through acquisitions and development, and spearheaded the REIT's successful

initial public offering in 2003. Before joining Maguire Properties, Mr.

Gilchrist served as President and Chief Executive of the privately held

REIT, Commonwealth Atlantic Properties, where he managed the planning and

entitlement of an 11 million square foot mixed-use project. "We are

extremely fortunate to have one of the real estate industry's most

versatile and highly regarded executives join our Board. Rick brings to NHP

invaluable experience in all aspects of real estate and REIT activities,"

commented Douglas M. Pasquale.

    The appointments are effective August 1, 2008. Nationwide Health

Properties was assisted in its Director search by Korn/Ferry International.

In addition to Dr. Rush and Mr. Gilchrist, NHP's other directors include:

Charles D. Miller (Chairman), Douglas M. Pasquale (President & CEO), R.

Bruce Andrews, David R. Banks, William K. Doyle, Robert D. Paulson, Keith

P. Russell, and Jack D. Samuelson.

    Nationwide Health Properties, Inc. is a real estate investment trust

that invests in senior housing facilities, long-term care facilities and

medical office buildings. The Company has investments in 562 facilities in

43 states. For more information on Nationwide Health Properties, Inc.,

visit our website at


    Certain information contained in this release includes forward-looking

statements. Forward-looking statements include statements regarding our

expectations, beliefs, intentions, plans, objectives, goals, strategies,

future events or performance and underlying assumptions and other

statements which are not statements of historical facts. These statements

may be identified, without limitation, by the use of forward-looking

terminology such as "may," "will," "anticipates," "expects," "believes,"

"intends," "should" or comparable terms or the negative thereof. These

forward-looking statements involve risks and uncertainties that could cause

actual results to differ materially from those described in the statements.

Risks and uncertainties associated with our business include (without

limitation) the following: deterioration in the operating results or

financial condition, including bankruptcies, of our tenants; non-payment or

late payment of rent by our tenants; our reliance on two tenants for a

significant percentage of our revenue; occupancy levels at certain

facilities; our level of indebtedness; changes in the ratings of our debt

securities; access to the capital markets and the cost of capital;

government regulations, including changes in the reimbursement levels under

the Medicare and Medicaid programs; the general distress of the healthcare

industry; increasing competition in our business sector; the effect of

economic and market conditions and changes in interest rates; the amount

and yield of any additional investments; risks associated with

acquisitions, including our ability to identify and complete favorable

transactions, delays or failures in obtaining third party consents or

approvals, the failure to achieve perceived benefits, unexpected costs or

liabilities and potential litigation; the ability of our tenants to repay

straight-line rent or loans in future periods; the ability of our tenants

to obtain and maintain adequate liability and other insurance; our ability

to attract new tenants for certain facilities; our ability to sell certain

facilities for their book value; our ability to retain key personnel;

potential liability under environmental laws; the possibility that we could

be required to repurchase some of our senior notes; the rights and

influence of holders of our outstanding preferred stock; changes in or

inadvertent violations of tax laws and regulations and other factors that

can affect real estate investment trusts and our status as a real estate

investment trust; and other factors discussed from time to time in our news

releases, public statements and/or filings with the Securities and Exchange

Commission, especially the "Risk Factors" sections of our Annual and

Quarterly Reports on Forms 10-K and 10-Q. Forward-looking information is

provided by us pursuant to the safe harbor established under the Private

Securities Litigation Reform Act of 1995 and should be evaluated in the

context of these factors. We disclaim any intent or obligation to update

these forward-looking statements.

    CONTACT: Abdo Khoury

Chief Financial & Portfolio Officer (949) 718-4400

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Blake Masterson

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