Exhibit 99.1

Contact:

Abdo H. Khoury

Chief Financial and Portfolio Officer

(949) 718-4400

NHP REPORTS 2008 FOURTH QUARTER AND FULL YEAR RESULTS

• 2008 Investments of $591 Million Yield Growth in Revenue, Recurring Diluted FFO and FAD Per Share

• Balance Sheet Remains Strong With Modest Capital Commitments Through Mid-2011

NEWPORT BEACH, CA – February 18, 2009 – Nationwide Health Properties, Inc. (NYSE: NHP) today announced results of operations for the fourth quarter and the year ended December 31, 2008. Contemporaneously with this press release, the Company has filed its Annual Report on Form 10-K for the fiscal year ended December 31, 2008 with the Securities and Exchange Commission.

“In 2008, we continued our track record of growth, diversification and balance sheet strength, delivering a strong performance against commonly-used metrics,” commented Douglas M. Pasquale, NHP’s President and Chief Executive Officer. “Our disciplined approach to acquisitions and balance sheet management has resulted in conservative leverage, an excellent fixed charge coverage and ample liquidity. Given the strength of our balance sheet and modest capital commitments, we believe we have positioned ourselves well to capitalize on strategic opportunities as they arise. Our total shareholder return, diluted FAD dividend payout ratio and coverage remain among the strongest in the entire REIT universe,” Mr. Pasquale added.

FOURTH QUARTER 2008 RESULTS OF OPERATIONS

The following table presents selected financial information for the fourth quarter and the year ended December 31, 2008, as compared to the same periods of 2007:

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SELECTED FINANCIAL DATA

($ in thousands, except per share amounts)

	Three Months Ended December 31,
	2008		2007		$ Change			% Change
Revenue	$	96,470	$	83,616	$	12,854		15.4	%
Income from Continuing Operations	$	31,462	$	38,509	$	(7,047	)	-18.3	%
Net Income	$	33,416	$	53,236	$	(19,820	)	-37.2	%
Income Available to Common Stockholders Per Diluted Share	$	0.31	$	0.54	$	(0.23	)	-42.6	%
Diluted FFO	$	64,002	$	54,989	$	9,013		16.4	%
Recurring Diluted FFO	$	59,361	$	53,322	$	6,039		11.3	%
Diluted FFO Per Share	$	0.60	$	0.56	$	0.04		7.1	%
Recurring Diluted FFO Per Share	$	0.56	$	0.54	$	0.02		3.7	%
Diluted FAD	$	58,554	$	53,914	$	4,640		8.6	%
Recurring Diluted FAD	$	58,554	$	52,247	$	6,307		12.1	%
Diluted FAD Per Share	$	0.55	$	0.55	$	—		0.0	%
Recurring Diluted FAD Per Share	$	0.55	$	0.53	$	0.02		3.8	%

	Year Ended December 31,
	2008		2007		$ Change			% Change
Revenue	$	370,665	$	306,269	$	64,396		21.0	%
Income from Continuing Operations	$	108,140	$	132,633	$	(24,493	)	-18.5	%
Net Income	$	268,138	$	224,458	$	43,680		19.5	%
Income Available to Common Stockholders Per Diluted Share	$	2.64	$	2.32	$	0.32		13.8	%
Diluted FFO	$	236,514	$	203,203	$	33,311		16.4	%
Recurring Diluted FFO	$	231,873	$	199,571	$	32,302		16.2	%
Diluted FFO Per Share	$	2.29	$	2.12	$	0.17		8.0	%
Recurring Diluted FFO Per Share	$	2.24	$	2.08	$	0.16		7.7	%
Diluted FAD	$	226,327	$	205,019	$	21,308		10.4	%
Recurring Diluted FAD	$	226,327	$	201,387	$	24,940		12.4	%
Diluted FAD Per Share	$	2.19	$	2.14	$	0.05		2.3	%
Recurring Diluted FAD Per Share	$	2.19	$	2.10	$	0.09		4.3	%

NON-GAAP FINANCIAL MEASURES

Diluted Funds From Operations (“FFO”) and Diluted Funds Available for Distribution (“FAD”) are non-GAAP measures that we believe are important to understanding our operations. We believe diluted FFO is an important supplemental measure of operating performance because it excludes the effects of depreciation and amortization and gains (losses) from sales of facilities (both of which are based on historical costs and which may be of limited relevance in evaluating current performance). We believe diluted FAD is an important supplemental measure of operating performance because, like diluted FFO, it excludes the effects of depreciation and amortization and gains (losses) from sales of facilities (both of which are based on historical costs and which may be of limited relevance in evaluating current performance). It also excludes straight-lined rent and other non-cash items that have become more significant for us and our competitors over the last several years. We believe that net income is the most directly comparable GAAP measure to diluted FFO and diluted FAD. Reconciliations between net income and diluted FFO and net income and diluted FAD are included in the accompanying financial data. For guidance, we have also included in the accompanying financial data reconciliations between net income per share and diluted FFO and diluted FAD per share. We have also included recurring diluted FFO and recurring diluted FAD amounts which exclude the recognition of revenue related to cash received from a tenant related to previously reserved rental revenue, interest income and late charges in 2007 and excludes the recognition of a gain on debt extinguishment in 2008.

INCOME FROM CONTINUING OPERATIONS

In 2007, we sold properties to our unconsolidated joint venture with a state pension fund investor. Under generally accepted accounting principles (“GAAP”), we were required to recognize a gain on this sale and because we have a continuing involvement in these properties through an unconsolidated joint venture, we were required to include this gain on sale in income from continuing operations. As a result, our income from continuing operations for the three months and year ended December 31, 2007, is substantially greater than the three months and year ended December 31, 2008.

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FOURTH QUARTER 2008 INVESTMENT ACTIVITY

The following table summarizes our 2008 investment activity:

INVESTMENT ACTIVITY 2008

($ in thousands)

Investment	Q1 Total			Q2 Total			Q3 Total			Q4 Owned (1)			Year to Date Total
Senior Housing
Number of Facilities		14			1			—			3			18
Purchase Price (2)	$	52,000		$	20,000		$	—		$	26,000		$	98,000
Initial Yield		8.1	%		8.3	%					8.4	%		8.2	%
Long-Term Care
Number of Facilities		—			7			5			1			13
Purchase Price (2)	$	—		$	32,000		$	32,000		$	22,000		$	86,000
Initial Yield					9.4	%		9.7	%		9.7	%		9.6	%
Medical Office
Number of Facilities		1			8			15			2			26
Purchase Price (3)	$	2,000		$	198,000		$	110,000		$	49,000		$	359,000
Initial Yield		7.4	%		6.0	%		7.2	%		6.0	%		6.3	%
Investments in Existing Portfolio
Investment	$	6,000		$	9,000		$	13,000		$	20,000		$	48,000
Initial Yield		8.7	%		8.0	%		8.3	%		7.8	%		8.1	%
Total
Number of Facilities		15			16			20			6			57
Purchase Price	$	60,000		$	259,000		$	155,000		$	117,000		$	591,000
Initial Yield		8.1	%		6.6	%		7.8	%		7.5	%		7.3	%

(1) There were no loans placed in the fourth quarter.

(2) The Q4 total includes the exercise for $8.0 million (Senior Housing) and $13.0 million (Long-Term Care) of purchase options by one of our JVs in which we hold a 25% interest.

(3) The Q3 total has been adjusted to reflect $19.0 million invested in two MOBs by a JV in which we hold a 44.95% interest.

Pacific Medical Buildings LLC (“PMB”) Update – During 2008, we directly or indirectly acquired or otherwise invested in 12 medical office buildings previously owned by affiliates of PMB. The gross investment was $266.2 million, including the assumption of $132.4 million of mortgage financing and the issuance of 1,829,562 limited partnership units with a value of $58.4 million. Additionally, in September 2008, we made a $47.5 million mortgage loan, which is secured by a medical office building, to a PMB affiliate which has the right to extend the loan until August 2009.

2008 FINANCING TRANSACTIONS

During the fourth quarter of 2008, we issued 2.4 million shares of our common stock through our controlled equity offering program at an average price of $29.29 per share, resulting in net proceeds of approximately $69.0 million. For the year ended December 31, 2008, we issued 5.0 million shares of our common stock through our controlled equity offering program at an average price of $32.24 per share resulting in net proceeds of approximately $158.1 million.

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During the fourth quarter of 2008, we converted 314,716 shares of series B cumulative convertible preferred stock into 1.4 million shares of common stock.

During the fourth quarter of 2008, we retired $49.7 million of medium term notes with a weighted average interest rate of 7.15% for $44.6 million, resulting in a $4.6 million gain on extinguishment of debt net of deferred financing costs.

2009 GUIDANCE

Our diluted FFO guidance per share range is from $2.20 to $2.25 and our diluted FAD guidance per share range is from $2.18 to $2.23. Our guidance excludes any acquisitions, investments, impairments or capital transactions occurring in 2009. Current guidance also assumes no material changes to the Hearthstone lease nor the recognition of any supplemental rent previously or prospectively deferred. Beginning in 2009, certain costs associated with acquisitions which were previously capitalized are now required to be expensed. While our guidance does not assume any acquisitions, we will incur certain costs that will be expensed for any acquisitions we may make and those costs could be material.

CONFERENCE CALL INFORMATION

We have scheduled a conference call and webcast on Thursday, February 19, 2009 at 8:30 a.m. Pacific time (11:30 a.m. Eastern time) in order to present our performance and operating results for the quarter and year ended December 31, 2008. The conference call is accessible by dialing 877-356-5705 and referencing conference ID number 83294465 or by logging on to our website at http://www.nhp-reit.com. The international dial-in number is 973-200-3389. The earnings release and any additional financial information that may be discussed on the conference call will also be available at the same location on our website. A digitized replay of the conference call will be available from 10:30 a.m. Pacific time (1:30 p.m. Eastern time) that day until 9:00 p.m. Pacific time (Midnight Eastern time) on Thursday, March 19, 2009. Callers can access the replay by dialing 800-642-1687 or 706-645-9291 and entering conference ID number 83294465. Webcast replays will also be available on our website for at least 12 months following the conference call. Our supplemental information package for the quarter and year ended December 31, 2008 is available on our website, free of charge, at http://www.nhp-reit.com by selecting “Investor Relations” followed by “Financial Information” and will be included in our Current Report on Form 8-K filed February 18, 2009 with the SEC also containing this release. Shareholders may receive free of charge a complete set of our audited financial statements upon request.

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ABOUT NATIONWIDE HEALTH PROPERTIES, INC.

Nationwide Health Properties, Inc. is a real estate investment trust that invests in senior housing facilities, long-term care facilities and medical office buildings. We have investments in 582 facilities in 43 states. For more information on Nationwide Health Properties, Inc., visit our website at http://www.nhp-reit.com.

FORWARD LOOKING STATEMENTS

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.

***Financial Tables to Follow***

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NATIONWIDE HEALTH PROPERTIES, INC.

CONSOLIDATED STATEMENTS OF OPERATIONS

(In thousands, except per share data)

	Three Months Ended December 31,						Year Ended December 31,
	2008			2007			2008			2007
Revenue:
Triple net lease rent	$	72,691		$	70,651		$	285,398		$	268,346
Medical office building operating rent		17,229			6,928			60,287			16,061
		89,920			77,579			345,685			284,407
Interest and other income		6,550			6,037			24,980			21,862
		96,470			83,616			370,665			306,269
Expenses:
Interest and amortization of deferred financing costs		25,492			25,435			101,045			97,639
Depreciation and amortization		30,898			26,110			117,473			91,187
General and administrative		6,513			6,937			26,051			24,429
Medical office building operating expenses		7,849			3,512			26,631			8,596
		70,752			61,994			271,200			221,851
Income before minority interests, unconsolidated joint ventures and discontinued operations		25,718			21,622			99,465			84,418
Minority interests		24			73			131			212
Income from unconsolidated joint ventures		1,079			717			3,903			1,958
Gain on extinguishment of debt, net		4,641			—			4,641			—
Gain on sale of facilities to unconsolidated joint venture		—			16,097			—			46,045
Income from continuing operations		31,462			38,509			108,140			132,633
Discontinued operations
Gain on sale of facilities, net		1,552			10,783			154,995			72,069
Income from discontinued operations		402			3,944			5,003			19,756
		1,954			14,727			159,998			91,825
Net income		33,416			53,236			268,138			224,458
Preferred stock dividends		(1,452	)		(2,062	)		(7,637	)		(13,434	)
Income available to common stockholders	$	31,964		$	51,174		$	260,501		$	211,024
Basic earnings per share (EPS):
Income from continuing operations excluding gains	$	0.25		$	0.22		$	0.98		$	0.81
Gains in income from continuing operations		0.05			0.17			0.05			0.51
Income from continuing operations		0.30			0.39			1.03			1.32
Discontinued operations		0.02			0.16			1.65			1.01
Income available to common stockholders	$	0.32		$	0.55		$	2.68		$	2.33
Diluted EPS:
Income from continuing operations excluding gains	$	0.25		$	0.22		$	0.97		$	0.80
Gain in income from continuing operations		0.04			0.17			0.05			0.51
Income from continuing operations		0.29			0.39			1.02			1.31
Discontinued operations		0.02			0.15			1.62			1.01
Income available to common stockholders	$	0.31		$	0.54		$	2.64		$	2.32
Weighted average shares outstanding for EPS:
Basic		100,353			93,399			97,246			90,625
Diluted		102,455			93,990			98,855			91,129

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NATIONWIDE HEALTH PROPERTIES, INC.

RECONCILIATIONS OF NET INCOME TO NON-GAAP FINANCIAL MEASURES

(In thousands, except per share data)

Reconciliation of Net Income to Diluted FFO and Recurring Diluted FFO

	Three Months Ended December 31,						Year Ended December 31,
	2008			2007			2008			2007
Net income	$	33,416		$	53,236		$	268,138		$	224,458
Preferred stock dividends		(1,452	)		(2,062	)		(7,637	)		(13,434	)
Real estate related depreciation and amortization		30,837			27,965			118,603			100,340
Depreciation in income from unconsolidated joint ventures		1,301			668			4,768			1,703
Gains on sale of facilities, net		(1,552	)		(26,880	)		(154,995	)		(118,114	)
FFO available to common stockholders		62,550			52,927			228,877			194,953
Series B preferred dividends		1,452			2,062			7,637			8,250
Diluted FFO		64,002			54,989			236,514			203,203
Gain on extinguishment of debt, net		(4,641	)		—			(4,641	)		—
Non-recurring settlement of tenant obligations		—			(1,667	)		—			(3,632	)
Recurring diluted FFO	$	59,361		$	53,322		$	231,873		$	199,571
Weighted average shares outstanding for diluted FFO:
Diluted weighted average shares outstanding		102,455			93,990			98,855			91,129
Series B preferred stock conversion		3,896			4,717			4,526			4,707
Fully diluted weighted average shares outstanding		106,351			98,707			103,381			95,836
Diluted FFO per share	$	0.60		$	0.56		$	2.29		$	2.12
Recurring diluted FFO per share	$	0.56		$	0.54		$	2.24		$	2.08
Dividends declared per common share	$	0.44		$	0.41		$	1.76		$	1.64
Recurring diluted FFO payout ratio		79	%		76	%		79	%		79	%
Recurring diluted FFO coverage		1.27			1.32			1.27			1.27

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NATIONWIDE HEALTH PROPERTIES, INC.

RECONCILIATIONS OF NET INCOME TO NON-GAAP FINANCIAL MEASURES

(In thousands, except per share data)

Reconciliation of Net Income to Diluted FAD and Recurring Diluted FAD

	Three Months Ended December 31,						Year Ended December 31,
	2008			2007			2008			2007
Net income	$	33,416		$	53,236		$	268,138		$	224,458
Preferred stock dividends		(1,452	)		(2,062	)		(7,637	)		(13,434	)
Real estate related depreciation and amortization		30,837			27,965			118,603			100,340
Gains on sale of facilities, net		(1,552	)		(26,880	)		(154,995	)		(118,114	)
Gain on extinguishment of debt, net		(4,641	)		—			(4,641	)		—
Straight-lined rent		(2,388	)		(1,735	)		(10,263	)		(2,886	)
Amortization of intangible assets and liabilities		(148	)		(74	)		(559	)		(96	)
Non-cash stock-based compensation expense		1,528			1,247			5,800			4,733
Deferred finance cost amortization		908			737			3,173			2,803
Lease commissions and tenant and capital improvements		(716	)		(1,260	)		(3,715	)		(2,758	)
Unconsolidated joint ventures:
Real estate related depreciation and amortization		1,301			668			4,768			1,703
Straight-lined rent		(12	)		—			(66	)		—
Deferred finance cost amortization		21			10			84			20
FAD available to common stockholders		57,102			51,852			218,690			196,769
Series B preferred dividends		1,452			2,062			7,637			8,250
Diluted FAD		58,554			53,914			226,327			205,019
Non-recurring settlement of delinquent tenant obligations		—			(1,667	)		—			(3,632	)
Recurring diluted FAD	$	58,554		$	52,247		$	226,327		$	201,387
Weighted average shares outstanding for diluted FAD:
Weighted average shares outstanding		102,455			93,990			98,855			91,129
Series B preferred stock conversion		3,896			4,717			4,526			4,707
Fully diluted weighted average shares outstanding		106,351			98,707			103,381			95,836
Diluted FAD per share	$	0.55		$	0.55		$	2.19		$	2.14
Recurring FAD diluted per share	$	0.55		$	0.53		$	2.19		$	2.10
Dividends declared per common share	$	0.44		$	0.41		$	1.76		$	1.64
Recurring diluted FAD payout ratio		80	%		77	%		80	%		78	%
Recurring diluted FAD coverage		1.25			1.29			1.24			1.28

Reconciliation of 2009 Net Income Guidance to 2009 Diluted FFO and Diluted FAD Guidance on a Per Share Basis

	Low			High
Net income	$	1.07		$	1.12
Real estate related depreciation and amortization		1.14			1.14
Dilution from convertible preferred stock		(0.01	)		(0.01	)
Diluted FFO guidance		2.20			2.25
Straight-lined rent		(0.06	)		(0.06	)
Amortization of intangible assets and liabilities		(0.01	)		(0.01	)
Non-cash stock-based compensation expense		0.07			0.07
Deferred finance cost amortization		0.03			0.03
Lease commissions and tenant and capital improvements		(0.05	)		(0.05	)
Diluted FAD guidance	$	2.18		$	2.23

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NATIONWIDE HEALTH PROPERTIES, INC.

CONSOLIDATED BALANCE SHEETS

(In thousands)

	December 31, 2008			December 31, 2007
Assets
Real estate related investments:
Land	$	320,394		$	301,100
Buildings and improvements		3,079,819			2,896,876
		3,400,213			3,197,976
Less accumulated depreciation		(490,112	)		(410,865	)
Net real estate		2,910,101			2,787,111
Mortgage loans receivable, net		112,399			121,694
Mortgage loan receivable from related party		47,500			—
Investment in unconsolidated joint ventures		54,299			52,637
Net real estate related investments		3,124,299			2,961,442
Cash and cash equivalents		82,250			19,407
Receivables, net		6,066			3,808
Assets held for sale		4,542			—
Intangible assets		109,434			58,481
Other assets		131,534			101,215
Total assets	$	3,458,125		$	3,144,353
Liabilities and Stockholders' Equity
Unsecured senior credit facility	$	—		$	41,000
Senior notes due 2009 - 2038		1,056,233			1,166,500
Notes and bonds payable		435,199			340,150
Accounts payable and accrued liabilities		144,566			107,844
Total liabilities		1,635,998			1,655,494
Minority interests		61,460			6,166
Stockholders' equity:
Series B convertible preferred stock		74,918			106,445
Common stock		10,228			9,481
Capital in excess of par value		1,786,193			1,565,249
Cumulative net income		1,556,889			1,288,751
Accumulated other comprehensive income		1,846			2,561
Cumulative dividends		(1,669,407	)		(1,489,794	)
Total stockholders' equity		1,760,667			1,482,693
Total liabilities and stockholders' equity	$	3,458,125		$	3,144,353

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