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                                                                    EXHIBIT 23.1

                   CONSENT OF INDEPENDENT PUBLIC ACCOUNTANTS

     As independent public accountants, we hereby consent to the incorporation
by reference in this registration statement of our report dated January 19, 1999
included in Health Care Property Investors, Inc.'s Form 10-K for the year ended
December 31, 1998 and to all references to our Firm included in this
registration statement.

                                              /s/ ARTHUR ANDERSEN LLP

ORANGE COUNTY, CALIFORNIA
SEPTEMBER 27, 1999